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

    4190 Highland Dr Salt Lake City, UT 84124-2600

    • Investment properties
    • 34,908 SF
    • 1.00 lot acres
    OFF-MARKET
    Last Sale
    May 01, 2024
    Value Estimations
    $1,735,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US86-0421368
    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

    • Kepco / Construction Company / General Contractor
    • Michael R Bingham, DDS / Dental Office
    • O'Banion Katy L / Physician / Medical Clinic
    • Salt Lake Lair / Art Studio / Service Establishment
    • The Therapy Studio / Counselor

    Property Details for 4190 Highland Dr

    Year built
    1987
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.00 lot acres
    Property size
    34,908 SF
    Zone code
    R-M
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    22-04-205-008
    APU
    2204205008

    Description

    This exceptional Millcreek, Utah office building, located at 4190 S Highland Dr, 84124, presents a fantastic leasing opportunity. The two-story, Class C building, constructed in 1986, offers a total of 22,679 square feet of versatile space, ideal for traditional office or medical office uses. The property features four suites, with a minimum divisible space of 530 square feet and a maximum contiguous space of 1,472 square feet, providing flexibility for various business needs. Ample parking is available with 78 spaces. The building is equipped with elevators for convenient access to all floors. Currently, multiple tenancies are available. This property boasts an all-inclusive full-service annual lease rate of $19.95 per square foot, a significant advantage, as this includes common area maintenance fees that are $3.00 per square foot less than the submarket average. The building's prime location in Millcreek offers easy access to major transportation routes and local amenities. This is an excellent opportunity to secure high-quality office space at a competitive price point in a desirable Utah location. Don't miss out on this chance to establish your business in this well-maintained and conveniently located building.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Salt Lake City
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.843
    Latitude
    40.6805
    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
    $24,106
    $1,132,900
    $916,200
    $2,049,100
    -
    $1,132,900
    $916,200
    $2,049,100

    Comparable in this City

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    • Value Estimation by Request
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    • Value Estimation
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      4381 Highland Dr

      STORE/OFFICE (MIXED USE) • 4,577 SF
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    • Value Estimation by Request
      2,199 SF

      4471 Highland Dr

      STORE/OFFICE (MIXED USE) • 2,199 SF
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    • Value Estimation by Request
      1,124 SF

      1345 3900th S Ste, Unit 102

      STORE/OFFICE (MIXED USE) • 1,124 SF
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    • Value Estimation by Request
      862 SF

      1345 3900th S Ste, Unit 216

      STORE/OFFICE (MIXED USE) • 862 SF
      1345 3900th S Ste, Salt Lake City, UT 84124-4415
      View Details

    Similar Nearby for Sale

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    • $800,000
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      Office Properties & Spaces • 0.35 Acres
      1565 3900, Millcreek, UT 84124
      View Details

    Similar Nearby for Lease

    • New
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      Millcreek Office Space Available

      Office space for rent in Millcreek, Utah.
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      View Details
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      Office Space with Mountain Views

      Office suites available with convenient access and shared kitchen.
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      Retail Space in Established Center

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      Benchmark Plaza Executive Suites

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    • $2,250 /Mo
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      Holladay Retail Space For Lease

      Retail space in Holladay with high visibility and on-site parking.
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      View Details
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    Salt Lake City, UT 84124-2600
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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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