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

    2645 Parleys Way Salt Lake City, UT 84109-1636

    • Strip malls
    • 16,482 SF
    • 1.33 lot acres
    OFF-MARKET
    Value Estimations
    $870,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US86-0276077
    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

    • Active Life Chiropractic: Holmes Matthew T DC / Alternative Medicine Practice
    • JTB Nail and spa # 2 / Nail Salon
    • Daniel Mangiapani / Physician
    • Anthony Musci / Physician
    • Sylvan Learning of Salt Lake City / Tutoring Service

    Property Details for 2645 Parleys Way

    Year built
    1988
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.33 lot acres
    Property size
    16,482 SF
    Zone code
    CB
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    16-22-278-013
    APU
    1622278013

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $910,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $827,000
      Market price range: $630k - $1.07M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $790,000
      Current use
      COMMERCIAL (GENERAL)
      $1,345,000
      Change: +70% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,315,000
      Change: +66% Conversion: Difficult
      RETAIL STORES
      $1,165,000
      Change: +47% Conversion: Easy
      WAREHOUSE, STORAGE
      $920,000
      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
    -111.816
    Latitude
    40.7206
    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
    $31,626
    $2,828,200
    $370,900
    $3,199,100
    -
    $2,828,200
    $370,900
    $3,199,100

    Comparable in this City

    • Value Estimation
      $525,000
      12,572 SF

      2005 2700th S, Unit 6

      SHOPPING CENTER, STRIP CENTER • 12,572 SF
      2005 2700th S, Salt Lake City, UT 84109-1700
      View Details
    • Value Estimation by Request
      7,200 SF

      2343 3300th S

      SHOPPING CENTER, STRIP CENTER • 7,200 SF
      2343 3300th S, Salt Lake City, UT 84109-2762
      View Details
    • Value Estimation by Request
      8,960 SF

      3275 2300th E

      SHOPPING CENTER, STRIP CENTER • 8,960 SF
      3275 2300th E, Salt Lake City, UT 84109-2732
      View Details
    • Value Estimation
      $965,000
      30,739 SF

      2005 2700th S

      SHOPPING CENTER, STRIP CENTER • 30,739 SF
      2005 2700th S, Salt Lake City, UT 84109-1700
      View Details
    • Value Estimation by Request
      8,096 SF

      3081 3300th S

      SHOPPING CENTER, STRIP CENTER • 8,096 SF
      3081 3300th S, Salt Lake City, UT 84109-2165
      View Details
    • Value Estimation by Request
      8,096 SF

      3083 3300th S

      SHOPPING CENTER, STRIP CENTER • 8,096 SF
      3083 3300th S, Salt Lake City, UT 84109-2140
      View Details

    Similar Nearby for Sale

    • $800,000
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      Salt Lake City Retail Building

      Retail building for sale with redevelopment potential.
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    • $2,750,000
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      Prime Millcreek Retail Showroom

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      3,362 SF

      Salt Lake City Storefront Retail Space

      Prime Retail Location, 3,362 SF
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      View Details
    • $1,300,000
      0.30 Acres

      Prime Millcreek Retail Opportunity

      Established Montessori School, High Growth Potential
      2806 3300, Millcreek, UT 84109
      View Details
    • $950,000
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      Residential Land in Gated Community

      Land in exclusive gated community with panoramic lake and city views.
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    • $725,000
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      Arcadia Heights Buildable Lot

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    Similar Nearby for Lease

    • 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
    • Contact for pricing
      917 SF

      Retail Space For Rent

      Retail space available for lease with high traffic counts.
      3225-3285 E 3300 S, Salt Lake City, UT 84109
      View Details
    • Contact for pricing
      20,000 SF

      East Bench Retail Space Available

      20,000 SF retail space with excellent visibility and parking.
      2330 E 3300 S, 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
    • $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
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    2645 Parleys Way
    Salt Lake City, UT 84109-1636
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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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