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    244 W 300 N Salt Lake City, UT 84103
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    Property profile & analytics

    244 W 300 N, Salt Lake City, UT 84103

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    • Investment properties
    • 20,930 SF
    • 1.06 lot acres
    For Lease
    $15 SF/Yr
    View Listing →
    Creative Office Space Available For Lease
    $15 SF/Yr

    Creative Office Space Available

    Turn-key creative office space with natural light available for rent.

    244 W 300 N, Salt Lake City, UT 84103
    View Listing
    Property ID
    US86-0295564
    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
    $1,030,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Movement Design Lab / Gym & Fitness Center
    • En Route Movement / Gym & Fitness Center
    • TRK Connection / Consultant
    • Rhodes Physical Therapy / Physician
    • Temporary Labor / Employment Agency

    Property Details for 244 W 300 N

    Year built
    1920
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.06 lot acres
    Zone code
    RMF35
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    08-36-402-007
    APU
    836402007

    Description

    This exceptional Salt Lake City property, the Marmalade/Mill Building, offers a unique blend of creative office and flex space, ideal for a variety of businesses. Located at 244 W 300 N, 84103, this building boasts a total of 21,350 square feet, with multiple tenancy options available. Five spaces are currently available, ranging from a minimum of 112 square feet to a maximum contiguous space of 4,613 square feet. The building's design incorporates a dynamic layout featuring a bullpen floor plan, complemented by private single offices and individual meeting rooms, fostering both collaboration and focused work environments. The open collaborative spaces encourage teamwork and innovation. This turnkey creative office space is ready for immediate occupancy. A ground-level unit ensures ample natural light, creating a bright and inviting atmosphere. The property's classification as both Office and Industrial, with subtypes including Creative Office, Flex, and Storage, provides exceptional versatility to suit diverse business needs. Its central Salt Lake City location offers easy access to amenities and transportation. This is an unparalleled opportunity to secure prime commercial space in a thriving urban setting.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $920,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,142,000
      Market price range: $1.14M - $2.72M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $1,665,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Salt Lake City
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.898
    Latitude
    40.7765
    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
    $30,557
    $1,112,500
    $1,978,400
    $3,090,900
    -
    $1,112,500
    $1,978,400
    $3,090,900

    Comparable in this City

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      355 300th W

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      365 800th N

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      50,160 SF

      76 Temple St

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    • Value Estimation
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      14,288 SF

      474 900th N

      STORE/OFFICE (MIXED USE)
      474 900th N, Salt Lake City, UT 84103-1425
      View Details
    • Value Estimation
      $2,705,000
      71,413 SF

      336 400th W

      STORE/OFFICE (MIXED USE)
      336 400th W, Salt Lake City, UT 84103-1228
      View Details

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      Salt Lake City Flex Space

      10395 SF flex space available for lease June 1, 2024.
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      Salt Lake City Office Space

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      Office Space Near City Creek

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      Bright Office Space with Parking

      Contemporary office space with natural light and convenient freeway access.
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      Downtown Office Building For Sale

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      Creative Space with Scenic Views

      Creative office space near amenities and transportation.
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      View Details
    View Listing
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    Salt Lake City, UT 84103
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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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    244 W 300 N, Salt Lake City, UT, 84103
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