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

    2231 Murray Holladay Rd, Unit 2245 Salt Lake City, UT 84117-6997

    • Strip malls
    • 13,097 SF
    • 0.77 lot acres
    OFF-MARKET
    Value Estimations
    $620,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US86-0313801
    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

    • Utah Industrial Management, Inc. / Property Management Company
    • MagicalHosts / Travel Agency
    • Integral Consulting Inc. / Environmental Consultant
    • Smith Brubaker & Haacke / Construction Company / General Contractor

    Property Details for 2231 Murray Holladay Rd

    Year built
    1985
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.77 lot acres
    Property size
    13,097 SF
    Zone code
    HV
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    22-03-380-017
    APU
    2203380017

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $590,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $652,000
      Market price range: $501k - $847k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $630,000
      Current use
      RETAIL STORES
      $780,000
      Change: +24% Conversion: Easy
      WAREHOUSE, STORAGE
      $730,000
      Change: +17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Salt Lake City
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.827
    Latitude
    40.668
    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
    $26,000
    $806,800
    $1,715,300
    $2,522,100
    -
    $806,800
    $1,715,300
    $2,522,100

    Comparable in this City

    • Value Estimation
      $1,095,000
      32,904 SF

      4700 900th E

      SHOPPING CENTER, STRIP CENTER • 32,904 SF
      4700 900th E, Salt Lake City, UT 84117-4959
      View Details
    • Value Estimation
      $935,000
      28,036 SF

      4700 900th E

      SHOPPING CENTER, STRIP CENTER • 28,036 SF
      4700 900th E, Salt Lake City, UT 84117-4959
      View Details
    • Value Estimation
      $1,435,000
      25,038 SF

      4640 2300th E

      SHOPPING CENTER, STRIP CENTER • 25,038 SF
      4640 2300th E, Salt Lake City, UT 84117
      View Details
    • Value Estimation
      $1,170,000
      20,460 SF

      4667 2300th E

      SHOPPING CENTER, STRIP CENTER • 20,460 SF
      4667 2300th E, Salt Lake City, UT 84117-4589
      View Details
    • Value Estimation
      $2,965,000
      100,086 SF

      5498 900th E

      SHOPPING CENTER, STRIP CENTER • 100,086 SF
      5498 900th E, Salt Lake City, UT 84117-7204
      View Details
    • Value Estimation by Request
      8,601 SF

      4683 900th E

      SHOPPING CENTER, STRIP CENTER • 8,601 SF
      4683 900th E, Salt Lake City, UT 84117-4887
      View Details

    Similar Nearby for Sale

    • $4,200,000
      8,081 SF

      Holladay Retail Center Investment

      Prime Holladay storefront, high visibility.
      4900 Highland Dr, Holladay, UT 84117
      View Details
    • $4,200,000
      8,081 SF

      Two-Story Building with Drive-Thru Lanes

      Two-story building with three drive-thru lanes and one ATM lane.
      4900 S Highland Dr, Salt Lake City, UT 84117
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    • Contact for pricing
      9,124 SF

      Highland Drive Office Space For Sale

      Office spaces for sale near St. Marks Hospital.
      4568-4578 So. Highland Dr, Salt Lake City, UT 84117
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    • $379,900
      2,106 SF

      Holladay Condo with Mountain Views

      Charming 3-bed, 3-bath condo in a secluded Holladay community.
      4543 S Tanglewood Dr E, Salt Lake City, UT 84117
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    • $649,900
      0.33 Acres

      Prime Commercial Lot in Murray

      High visibility commercial lot with direct access to I-15.
      4584 S Commerce Dr W, Murray, UT 84117
      View Details
    • $689,000

      Murray/Holladay Condo with Basement

      Main-level condo in gated community with unfinished basement.
      1369 E Farm Hill Dr, Murray, UT 84117
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,304 SF

      Retail Space in Established Area

      Retail spaces available in high-traffic, high-income Salt Lake City.
      1785 E Murray Holladay Rd, Salt Lake City, UT 84117
      View Details
    • Contact for pricing
      3,957 SF

      Retail Space on Murray Holladay

      Retail space with high visibility and traffic count.
      1919-1975 E Murray Holladay Rd, Salt Lake City, UT 84117
      View Details
    • Contact for pricing
      20,000 SF

      The Royce on 9th: Prime Retail Opportunity

      Salt Lake City retail space, multiple tenants, build-to-suit available.
      4670 South Brg, Salt Lake City, UT 84117
      View Details
    • Contact for pricing
      3,545 SF

      Retail Space with Drive-Thru Potential

      Retail property with drive-thru opportunity and high traffic exposure.
      5508-5572 Van Winkle Expy, Salt Lake City, UT 84117
      View Details
    • Contact for pricing
      81,918 SF

      Prime Murray Retail Space

      Large Salt Lake City storefront available
      5600 South Brg, Salt Lake City, UT 84117
      View Details
    • $23 SF/Yr
      9,950 SF

      Millcreek Creative Office Space

      Ground-level suite, high traffic area.
      4698 Highland Dr, Millcreek, UT 84117
      View Details
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    Salt Lake City, UT 84117-6997
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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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