Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2386 Heritage Way Salt Lake City, UT 84109-1808

    • Investment properties
    • 15,841 SF
    • 0.83 lot acres
    OFF-MARKET
    Value Estimations
    $640,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US86-0459565
    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

    • American Research Bureau / Genealogist

    Property Details for 2386 Heritage Way

    Year built
    1967
    Construction
    WOOD FRAME
    Lot size
    0.83 lot acres
    Property size
    15,841 SF
    Zone code
    R-M/ZC
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    16-27-201-004
    APU
    1627201004

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $510,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $774,000
      Market price range: $584k - $1.81M

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

    Location Insight

    • Map
    • Local Demand
    City
    Salt Lake City
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.822
    Latitude
    40.7109
    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
    $21,133
    $700,800
    $1,095,600
    $1,796,400
    -
    $700,800
    $1,095,600
    $1,796,400

    Comparable in this City

    • Value Estimation
      $920,000
      8,672 SF

      2190 Mott Dr

      STORE/OFFICE (MIXED USE) • 8,672 SF
      2190 Mott Dr, Salt Lake City, UT 84109-2625
      View Details
    • Value Estimation
      $885,000
      30,999 SF

      2545 Parleys Way

      STORE/OFFICE (MIXED USE) • 30,999 SF
      2545 Parleys Way, Salt Lake City, UT 84109-1254
      View Details
    • Value Estimation by Request
      4,812 SF

      2870 3300th S

      STORE/OFFICE (MIXED USE) • 4,812 SF
      2870 3300th S, Salt Lake City, UT 84109-2821
      View Details
    • Value Estimation
      $500,000
      11,346 SF

      2348 Parleys Way

      STORE/OFFICE (MIXED USE) • 11,346 SF
      2348 Parleys Way, Salt Lake City, UT 84109-1233
      View Details
    • Value Estimation by Request
      4,080 SF

      2715 3300th S

      STORE/OFFICE (MIXED USE) • 4,080 SF
      2715 3300th S, Salt Lake City, UT 84109-2835
      View Details
    • Value Estimation by Request
      2,796 SF

      2361 3300th S

      STORE/OFFICE (MIXED USE) • 2,796 SF
      2361 3300th S, Salt Lake City, UT 84109-2723
      View Details

    Similar Nearby for Sale

    • $725,000
      0.33 Acres

      Arcadia Heights Buildable Lot

      Buildable lot in Arcadia Heights with panoramic views.
      2253 S Lakeline Cir, Salt Lake City, UT 84109
      View Details
    • $950,000
      1.03 Acres

      Residential Land in Gated Community

      Land in exclusive gated community with panoramic lake and city views.
      2438 S Cannon Pt Dr, Salt Lake City, UT 84109
      View Details
    • $2,750,000
      11,000 SF

      Prime Millcreek Retail Showroom

      11,000 SF Storefront, $2.75M
      2827 2300, Millcreek, UT 84109
      View Details
    • $3,950,000
      14,887 SF

      Office Building Near Wasatch Mountains

      Office building near downtown with mountain views and easy access.
      2505 East Pl South, Salt Lake City, UT 84109
      View Details
    • $769,000
      3,066 SF

      Millcreek Duplex: Investment Opportunity

      Well-maintained Millcreek duplex with strong rental income potential.
      2905 S 2000 E, Salt Lake City, UT 84109
      View Details
    • Contact for pricing
      3,362 SF

      Salt Lake City Storefront Retail Space

      Prime Retail Location, 3,362 SF
      2945 3300, Salt Lake City, UT 84109
      View Details

    Similar Nearby for Lease

    • $26 SF/Yr
      5,734 SF

      Salt Lake City Office Building

      Class A Office, 5,734 sq ft, 12 parking spaces
      2115 Dallin St, Salt Lake City, UT 84109
      View Details
    • $19 SF/Yr
      21,390 SF

      Eastside Office Space with Views

      Office suites available with freeway access and valley views.
      2319 South Foothill Blvd, Salt Lake City, UT 84109
      View Details
    • Contact for pricing
      30,436 SF

      Canyon Rim Retail Center Investment

      High-traffic Millcreek retail space available.
      3171-3285 South Brg, Salt Lake City, UT 84109
      View Details
    • $30 SF/Yr
      7,500 SF

      Office or Retail Sublease Opportunity

      Sublease opportunity suitable for office or retail use with signage.
      2210 South East Pl East, Salt Lake City, UT 84109
      View Details
    • $18 SF/Yr
      6,688 SF

      Upper Sugarhouse Office Sublease Opportunity

      Office space in Upper Sugarhouse with freeway access.
      2455 E Parleys Way, Salt Lake City, UT 84109
      View Details
    • $20 SF/Yr
      22,349 SF

      Lefavi Financial Center: Creative Offices

      Salt Lake City Creative Office Suites
      2319 Foothill Dr, Salt Lake City, UT 84109
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2386 Heritage Way
    Salt Lake City, UT 84109-1808
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.