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    Property profile & analytics

    1996 E 6400 S Murray, UT 84121

    • Investment properties
    • 22,103 SF
    • 1.36 lot acres
    For Lease
    View listing
    Last Sale
    Oct 08, 2020
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US86-0453771
    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

    • Investment properties

    Property Details for 1996 E 6400 S

    Year built
    2000
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.36 lot acres
    Property size
    22,103 SF
    Zone code
    CE
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    22-21-279-004
    APU
    2221279004

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,342,000
      Market price range: $968k - $3.81M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,650,000
      Current use
      RESTAURANT
      $2,395,000
      Change: -10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Murray
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.835
    Latitude
    40.6342
    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
    $43,151
    $1,288,100
    $2,882,700
    $4,170,800
    -
    $1,288,100
    $2,882,700
    $4,170,800

    Comparable in this City

    • Value Estimation by Request
      270,537 SF

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      View Details
    • Value Estimation by Request
      5,820 SF

      5804 900th E

      STORE/OFFICE (MIXED USE) • 5,820 SF
      5804 900th E, Murray, UT 84121-1644
      View Details
    • Value Estimation
      $740,000
      22,134 SF

      2469 Ft Un Blvd

      STORE/OFFICE (MIXED USE) • 22,134 SF
      2469 Ft Un Blvd, Salt Lake City, UT 84121-3343
      View Details
    • Value Estimation
      $1,100,000
      21,720 SF

      930 6600th S

      STORE/OFFICE (MIXED USE) • 21,720 SF
      930 6600th S, Murray, UT 84121-2445
      View Details
    • Value Estimation
      $22,050,000
      114,700 SF

      2890 Cottonwood Pkwy

      STORE/OFFICE (MIXED USE) • 114,700 SF
      2890 Cottonwood Pkwy, Salt Lake City, UT 84121-7035
      View Details
    • Value Estimation
      $845,000
      25,245 SF

      5882 900th E

      STORE/OFFICE (MIXED USE) • 25,245 SF
      5882 900th E, Murray, UT 84121-1683
      View Details

    Similar Nearby for Sale

    • $750,000
      3,192 SF

      Cottonwood Heights Duplex with Garages

      Duplex in Cottonwood Heights with garages. Remodeled unit.
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    • $500,000
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      Cottonwood Heights Office Space Available

      Office condo in Cottonwood Heights with freeway access and parking.
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      4,510 SF

      Salt Lake City Office Space

      Office space with convenient access to amenities and major routes.
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    • $2,200,000
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      Residential Land in Gated Community

      Homesite in a private, guarded mountain community.
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    Similar Nearby for Lease

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      Prime Murray Office Suites: Flexible Lease Terms Available
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      Holladay Retail/Medical Space Available

      Retail or medical space in desirable Holladay location.
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      Office Space Near I-215

      Office space with easy access to I-215 freeway.
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      Newly Built Out Office Space

      750 SF office space with remodeled common area.
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    • Contact for pricing

      Prominent Office Building For Lease

      Strategically located office building with freeway access and mountain views.
      1996 E 6400 S, Murray, UT 84121
      View Details
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    1996 E 6400 S
    Murray, UT 84121
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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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