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    1639 Bear Lake Blvd Garden City, UT 84028
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    1639 Bear Lake Blvd, Garden City, UT 84028

    View on Map
    • Mobile home & RV parks
    • 105.35 lot acres
    Off-Market
    Property ID
    US86-0632754
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mobile home & RV parks

    Property Details for 1639 Bear Lake Blvd

    Lot size
    105.35 lot acres
    Property type
    Mobile home & RV parks
    Property subtype
    Campgrounds

    Description

    This exceptional 105.35-acre parcel in Garden City, Utah, presents a fully engineered and approved 495-space RV park development. Located on Bear Lake, a major summer recreation destination, this property boasts city water and sewer, making it ready for immediate development. The site's convenient location near Bear Lake State Park, which saw over 569,903 visitors and a million visitor nights in 2023, ensures high demand. With approximately 3.7 million people residing within 150 miles, the potential for strong occupancy is significant. The scarcity of privately-owned land for development in this area further enhances the investment value. The gently sloping terrain towards the lake offers picturesque views and easy access to recreational opportunities. This development opportunity is ideally situated to capitalize on the growing tourism in the region, benefiting from the proximity to the vibrant Salt Lake City metropolitan area and its thriving economy. The property's zoning permits both recreational and single-family residential uses, offering flexibility for future expansion or diversification. This is a rare chance to acquire a fully permitted and ready-to-build RV park in a high-demand location. Don't miss this chance to invest in a thriving tourism market. The property is zoned for Recreational/Single Family Residential use.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Garden City
    County
    Rich
    State
    Utah
    Longitude
    -111.3926599
    Latitude
    41.9163395

    Comparable in this City

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      RV Lot in Sweetwater Park

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      Sweetwater RV Lot For Sale

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      RV Lot Near Bear Lake

      RV lot with full hookups and amenities near Bear Lake.
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      Bear Lake Waterfront View Property

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      Mixed-Use Flex Buildings For Sale

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      Luxury Condos Near Bear Lake

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    Similar Nearby for Sale

    • $149,000
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      RV Lot in Sweetwater Park

      RV lot with full utilities and park amenities.
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    • $175,000
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      Sweetwater RV Lot For Sale

      RV lot with full hookups and access to public beach.
      3075 S Spoke Way, Garden City, UT 84028
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    • $149,000
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      RV Lot Near Bear Lake

      RV lot with full hookups and amenities near Bear Lake.
      3095 S Monarch Dr, Garden City, UT 84028
      View Details
    • Contact for pricing

      Bear Lake Waterfront View Property

      0.76-acre property with lake views, close to recreation and amenities.
      49-569 Crestview Cir, Garden City, UT 84028
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    • $1,099,000
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      Mixed-Use Flex Buildings For Sale

      New commercial flex buildings with office, apartment, and shop space.
      70 N 395 W, Garden City, UT 84028
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    • $9,120,000
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      Luxury Condos Near Bear Lake

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      35 E 150 S, Garden City, UT 84028
      View Details

    Similar Nearby for Lease

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      Flex Units in Garden City

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      8,000 SF

      Garden City Warehouse Space Available

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      Restaurant Space on Bear Lake Blvd

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      Garden City Flex Units

      New flex units in the heart of Garden City, UT.
      70 N 395 W, Garden City, UT 84028
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    Garden City, UT 84028
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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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