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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    15051 Academy Pkwy Herriman, UT 84096

    • Strip malls
    • 4,350 SF
    • 1.04 lot acres
    OFF-MARKET
    Last Sale
    Apr 19, 2024
    Value Estimations
    $660,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US86-0044179
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Strip malls

    Property Details for 15051 Academy Pkwy

    Lot size
    1.04 lot acres
    Property size
    4,350 SF
    Zone code
    C-2
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    33-17-202-148
    APU
    3317202148

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $595,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $645,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Herriman
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.975
    Latitude
    40.4776
    CBSA code
    41620
    CBSA name
    SALT LAKE CITY, UT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $17,371
    $838,100
    $2,155,400
    $2,993,500
    -
    $838,100
    $2,155,400
    $2,993,500

    Comparable in this City

    • Value Estimation
      $765,000
      20,064 SF

      12447 Xing Dr

      SHOPPING CENTER, STRIP CENTER • 20,064 SF
      12447 Xing Dr, Riverton, UT 84096-7010
      View Details
    • Value Estimation by Request
      5,220 SF

      5174 13400th S

      SHOPPING CENTER, STRIP CENTER • 5,220 SF
      5174 13400th S, Herriman, UT 84096-6502
      View Details
    • Value Estimation by Request
      6,161 SF

      5502 13400th S

      SHOPPING CENTER, STRIP CENTER • 6,161 SF
      5502 13400th S, Herriman, UT 84096-6911
      View Details
    • Value Estimation by Request
      4,400 SF

      3492 Maradona Dr

      SHOPPING CENTER, STRIP CENTER • 4,400 SF
      3492 Maradona Dr, Herriman, UT 84096
      View Details
    • Value Estimation by Request
      8,680 SF

      13356 Rosecrest Rd

      SHOPPING CENTER, STRIP CENTER • 8,680 SF
      13356 Rosecrest Rd, Herriman, UT 84096
      View Details
    • Value Estimation by Request
      7,204 SF

      4016 12600th S

      SHOPPING CENTER, STRIP CENTER • 7,204 SF
      4016 12600th S, Riverton, UT 84096
      View Details

    Similar Nearby for Sale

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      72,309 SF

      Retail Space in Herriman Project

      Retail space available within a 375-acre mixed-use development.
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      1,200 SF

      Anthem Center: Herriman Retail Pads

      High-growth Herriman, UT retail spaces available. Build-to-suit options.
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      Herriman Retail Investment Opportunity

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    • New
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      1.39 Acres

      Herriman Retail Development Opportunity

      Prime commercial land for retail, medical, or restaurant development.
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      Riverton Retail Frontage Investment

      High-visibility, versatile commercial lot
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      1.39 Acres

      Teton Center: Herriman Executive Office

      Prime Herriman office/retail land, ground lease or sale.
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    Similar Nearby for Lease

    • $125,000
      60,548 SF

      Herriman Office/Retail Land Opportunity

      Prime 1.39-acre parcel, build-to-suit options.
      11918 Mustang Trail Way, Herriman, UT 84096
      View Details
    • $30 SF/Yr
      28,500 SF

      Oquirrh Gateway Office Space

      Herriman, UT: Modern Office Suites Available
      12480 5600, Herriman, UT 84096
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    • Contact for pricing
      160,000 SF

      Herriman Retail Center - For Lease

      Large Retail Space, High Visibility, Utah
      4874 12600, Herriman, UT 84096
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    • Contact for pricing
      1,383 SF

      Herriman Retail Space For Rent

      Retail space available in Smith’s anchored development in Herriman, Utah.
      5506-5560 W 13400 S, Herriman, UT 84096
      View Details
    • Contact for pricing
      140,699 SF

      Herriman Commercial Space For Rent

      Commercial space available in rapidly growing Herriman, Utah.
      12488 S Rosecrest Rd W, Herriman, UT 84096
      View Details
    • $156,876
      2,424 SF

      Herriman Fast Food Sublease Opportunity

      2,424 SF Fast Food Sublease in Herriman, UT
      5402 13400, Herriman, UT 84096
      View Details
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    Herriman, UT 84096
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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