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    Property profile & analytics

    344 13800 Draper, UT 84020

    • Investment properties
    • 176,803 SF
    • 0.85 lot acres
    For Lease
    View listing
    $28 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US86-0226190
    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

    • Galen College of Nursing - Salt Lake City / Nursing School
    • Sadler, Gibb & Associates, LLC / Certified Public Accountant
    • Sutherland Title / Title Company

    Property Details for 344 13800

    Year built
    2019
    Lot size
    0.85 lot acres
    Property size
    176,803 SF
    Zone code
    DC
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    33-01-177-011
    APU
    3301177011

    Description

    Irvine Office Park offers exceptional executive office space in Salt Lake County. This Class A property boasts three buildings totaling 176,803 square feet, constructed in 2020, and situated on a 15.18-acre lot. The modern design features expansive floor-to-ceiling glass, creating bright and inviting workspaces. Two elevators service the six-story buildings. Suites range from 5,102 to 21,322 contiguous square feet, with a total of 26,424 square feet currently vacant and available for multiple tenants. The property offers a generous tenant improvement allowance and amenities including an onsite fitness center with showers and lockers, a dedicated walking/jogging trail, and 30 electric vehicle charging stations. Enjoy unmatched visibility and prominence on Bangerter Highway, with over 45,745 cars passing daily. The location provides easy freeway and arterial access, along with proximity to restaurants, hotels, and other services. Fiber optic connectivity and infrastructure for redundant power ensure reliable operations. A 5:1,000 parking ratio and crown signage opportunities further enhance this prime location. Mass transit access is also planned with a nearby Frontrunner station. The property features a progressive, contemporary design.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $16,975,000
      Market price range: $6.66M - $27.1M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $18,595,000
      Current use
      RESTAURANT
      $19,475,000
      Change: +5% Conversion: Difficult
      MEDICAL BUILDING
      $16,885,000
      Change: -9% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Draper
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.902
    Latitude
    40.5033
    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
    $367,909
    $4,261,600
    $34,110,200
    $38,371,800
    -
    $4,261,600
    $34,110,200
    $38,371,800

    Comparable in this City

    • Value Estimation
      $2,970,000
      52,700 SF

      11734 Election Rd

      STORE/OFFICE (MIXED USE) • 52,700 SF
      11734 Election Rd, Draper, UT 84020-6802
      View Details
    • Value Estimation
      $3,595,000
      74,562 SF

      11850 Election Rd

      STORE/OFFICE (MIXED USE) • 74,562 SF
      11850 Election Rd, Draper, UT 84020-6814
      View Details
    • Value Estimation
      $24,805,000
      131,905 SF

      13855 Minuteman Dr

      STORE/OFFICE (MIXED USE) • 131,905 SF
      13855 Minuteman Dr, Draper, UT 84020
      View Details
    • Value Estimation
      $760,000
      20,872 SF

      837 Pioneer Rd

      STORE/OFFICE (MIXED USE) • 20,872 SF
      837 Pioneer Rd, Draper, UT 84020
      View Details
    • Value Estimation
      $3,260,000
      26,594 SF

      12764 Pony Expy Rd

      STORE/OFFICE (MIXED USE) • 26,594 SF
      12764 Pony Expy Rd, Draper, UT 84020-8347
      View Details
    • Value Estimation
      $1,445,000
      21,876 SF

      134 13100th S

      STORE/OFFICE (MIXED USE) • 21,876 SF
      134 13100th S, Draper, UT 84020-9224
      View Details

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    Similar Nearby for Lease

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      View Details
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    344 13800
    Draper, UT 84020
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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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