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

    4233 Highland Dr Holladay, UT 84124

    • Retail space
    • 5,797 SF
    • 0.16 lot acres
    For Lease
    View listing
    Last Sale
    Apr 22, 2025
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US86-0161857
    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

    • Retail space

    Property Details for 4233 Highland Dr

    Year built
    1950
    Construction
    WOOD FRAME
    Lot size
    0.16 lot acres
    Property size
    5,797 SF
    Zone code
    C-2
    Property type
    Retail space
    APN
    22-04-207-007
    APU
    2204207007

    Description

    This exceptional 4,600 square foot free-standing commercial building, situated on Highland Drive in Salt Lake County, presents a remarkable opportunity for a discerning restaurateur or retailer. Built in 1950, this single-story structure boasts excellent access and visibility, ensuring high foot traffic and brand recognition. Currently vacant, the entire 4,600 square feet is available for lease, offering a blank canvas for your vision. The property's second-generation restaurant configuration provides a solid foundation for immediate occupancy, minimizing upfront build-out costs. Ample parking is available, enhancing customer convenience. Furthermore, there's potential to develop outdoor patio space, adding significant value and appeal. This location offers a unique blend of established infrastructure and high-growth potential, making it an ideal investment for a business seeking a prominent presence in a thriving area. Contact us to discuss lease rates and explore the possibilities of this exceptional property. The property is a single-tenancy 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
    -111.842
    Latitude
    40.6796
    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
    $5,716
    $192,900
    $349,500
    $542,400
    -
    $192,900
    $349,500
    $542,400

    Comparable in this City

    • Value Estimation by Request
      0.11 Acres

      912 Gdn Dr

      RETAIL STORES (PERSONAL SERVICES) • 0.11 Acres
      912 Gdn Dr, Salt Lake City, UT 84124-2404
      View Details
    • Value Estimation by Request
      0.20 Acres

      924 3900th S

      RETAIL STORES (PERSONAL SERVICES) • 0.20 Acres
      924 3900th S, Salt Lake City, UT 84124-1109
      View Details
    • Value Estimation by Request
      0.12 Acres

      3909 Highland Dr

      RETAIL STORES (PERSONAL SERVICES) • 0.12 Acres
      3909 Highland Dr, Salt Lake City, UT 84124-1614
      View Details
    • Value Estimation by Request
      0.10 Acres

      4006 Highland Dr

      RETAIL STORES (PERSONAL SERVICES) • 0.10 Acres
      4006 Highland Dr, Salt Lake City, UT 84124-1617
      View Details
    • Value Estimation
      $505,000
      4,480 SF

      4346 900th E

      RETAIL STORES (PERSONAL SERVICES) • 4,480 SF
      4346 900th E, Salt Lake City, UT 84124-2408
      View Details
    • Value Estimation by Request
      1,912 SF

      1586 3900th S

      RETAIL STORES (PERSONAL SERVICES) • 1,912 SF
      1586 3900th S, Salt Lake City, UT 84124-1502
      View Details

    Similar Nearby for Sale

    • $16,890,000
      43,985 SF

      New 32-Unit Millcreek Complex

      New 32-unit complex in Millcreek, near Salt Lake City.
      4350 S 900 E, Millcreek, UT 84124
      View Details
    • $395,000
      1,050 SF

      Luxury Condo in Millcreek

      High-rise condo with elevator access in a gated community.
      3944 S 900 E, Salt Lake City, UT 84124
      View Details
    • $800,000
      0.35 Acres

      1565 3900, Millcreek, UT 84124

      Office Properties & Spaces • 0.35 Acres
      1565 3900, Millcreek, UT 84124
      View Details
    • $2,350,000
      18.66 Acres

      18.66 Acres in Salt Lake

      An 18.66-acre gated estate opportunity in Salt Lake City.
      4695 S Thousand Oaks Dr, Salt Lake City, UT 84124
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      1,160 SF

      Retail Space in Established Center

      Retail and creative office space in Salt Lake City, UT.
      3939-3983 S Wasatch Blvd, Salt Lake City, UT 84124
      View Details
    • $2,250 /Mo
      3,520 SF

      Holladay Retail Space For Lease

      Retail space in Holladay with high visibility and on-site parking.
      6065 S Highland Dr, Holladay, UT 84124
      View Details
    • Contact for pricing
      4,600 SF

      Highland Drive Restaurant Space

      Prime Retail/Restaurant, 4600 SF, High Visibility
      4233 Highland Dr, Holladay, UT 84124
      View Details
    • $23 SF/Yr
      45,010 SF

      Benchmark Plaza Executive Suites

      Salt Lake City Office Space Available
      4525 Wasatch Blvd, Salt Lake City, UT 84124
      View Details
    • $23 SF/Yr
      1,057 SF

      Office Space with Mountain Views

      Office suites available with convenient access and shared kitchen.
      4505 S Wasatch Blvd, Salt Lake City, UT 84124
      View Details
    • Contact for pricing
      4,434 SF

      Salt Lake City Flex Unit

      Flex unit available for lease in Salt Lake City.
      1868 W 1040 S, Salt Lake City, UT 84124
      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.
    4233 Highland Dr
    Holladay, UT 84124
    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.