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

    488 Winchester St Murray, UT 84107

    • Investment properties
    • 56,114 SF
    • 2.30 lot acres
    For Lease
    View listing
    $23 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US86-1493203
    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

    • Western Front Wealth Advisors / Financial Advisor
    • Harding Brothers Plumbing LLC / Plumbing Service / Building Supply
    • Resultzz / Telecommunications Service / Data Center
    • The Loan Chef / Loan Service / Bank
    • Cambria Capital LLC / Financial Advisor

    Property Details for 488 Winchester St

    Year built
    1988
    Construction
    CONCRETE
    Lot size
    2.30 lot acres
    Property size
    56,114 SF
    Zone code
    C-2
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    22-19-256-029
    APU
    2219256029

    Description

    This exceptional four-story, Class B office building, totaling 54,441 square feet, is located at 488 E. Winchester St, Murray, UT 84107. Built in 1989 and renovated in 2012, the property offers multiple tenancy options with a minimum divisible space of 2,000 square feet and currently has 7,053 square feet of vacant space available. The building features two elevators, 9-foot ceilings, and ample parking (3.5 spaces per 1,000 square feet). Its prime location along the I-215 corridor provides easy access to I-15, placing it ideally within the mid-valley region. Many suites boast stunning views of the Wasatch and Oquirrh Mountains. The property's proximity to Fashion Place Mall, various dining and retail options, a UTA bus route, and a nearby Trax station adds significant appeal. On-site professional management ensures efficient building operations. This is a must-see property for businesses seeking a well-maintained, conveniently located office space in Murray, Utah.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $4,490,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Salt Lake City
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.877
    Latitude
    40.6314
    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
    $73,013
    $2,028,800
    $6,501,700
    $8,530,500
    -
    $2,028,800
    $6,501,700
    $8,530,500

    Comparable in this City

    • Value Estimation
      $2,435,000
      19,125 SF

      5681 Commerce Dr

      STORE/OFFICE (MIXED USE) • 19,125 SF
      5681 Commerce Dr, Salt Lake City, UT 84107-5905
      View Details
    • Value Estimation
      $535,000
      3,584 SF

      5881 Commerce Dr

      STORE/OFFICE (MIXED USE) • 3,584 SF
      5881 Commerce Dr, Salt Lake City, UT 84107
      View Details
    • Value Estimation
      $1,215,000
      32,475 SF

      64 Winchester St

      STORE/OFFICE (MIXED USE) • 32,475 SF
      64 Winchester St, Salt Lake City, UT 84107-7202
      View Details
    • Value Estimation
      $1,695,000
      62,955 SF

      746 Winchester St

      STORE/OFFICE (MIXED USE) • 62,955 SF
      746 Winchester St, Salt Lake City, UT 84107-8512
      View Details
    • Value Estimation
      $1,410,000
      27,000 SF

      480 Winchester St

      STORE/OFFICE (MIXED USE) • 27,000 SF
      480 Winchester St, Salt Lake City, UT 84107-7588
      View Details
    • Value Estimation
      $2,625,000
      21,816 SF

      737 Winchester St

      STORE/OFFICE (MIXED USE) • 21,816 SF
      737 Winchester St, Salt Lake City, UT 84107-7564
      View Details

    Similar Nearby for Sale

    • $799,000
      4,643 SF

      Salt Lake City Office Condo Investment

      High-yield office condo with strong tenant.
      746 E Winchester St, Suite 210, Murray, UT 84107
      View Details
    • New
      $3,800,000
      0.87 Acres

      Millcreek Development Opportunity

      9,500 SF commercial property with potential for 113 units.
      4244 S State St, Millcreek, UT 84107
      View Details
    • $349,900
      0.23 Acres

      Residential Land in Murray, Utah

      Level flag lot in quiet East Murray neighborhood.
      4913 S Naylor Ln, Murray, UT 84107
      View Details
    • $449,000
      4,476 SF

      Murray Office Space For Sale

      4,476 SF office space in Murray with high traffic.
      284 E 4500 S, Salt Lake City, UT 84107
      View Details
    • $725,000
      0.28 Acres

      Office Building in Murray, Utah

      Office building for sale in Murray, Utah.
      184 E 5900 S, Murray, UT 84107
      View Details
    • $3,500,000

      Two-Story Office Building with Lease

      Two-story office building with long-term lease and future development potential.
      4252 S 700 E, Salt Lake City, UT 84107
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      10,000 SF

      Prime Murray Flex Space Available

      10,000 SF Flex Space - Ideal Location
      135 6100, Murray, UT 84107
      View Details
    • $23 SF/Yr
      54,441 SF

      Commerce Park III Office Space

      Murray, UT Office Suites Available
      488 Winchester St, Murray, UT 84107
      View Details
    • $0.99 SF/Yr
      7,746 SF

      Industrial Space with Billboard Signage

      7,746 SF industrial space with 1,800 SF office available.
      4876 South Commerce Dr, Murray, UT 84107
      View Details
    • Contact for pricing
      243,057 SF

      Industrial Property with Trailer Stalls

      Industrial property featuring trailer stalls and additional storage yard.
      4209 W Central Ave, Salt Lake City, UT 84107
      View Details
    • $15 SF/Yr
      1,850 SF

      Updated Office Suites Near I-15

      Main floor office suites with updated features and convenient access.
      740 E 3900 S, Salt Lake City, UT 84107
      View Details
    • $16 SF/Yr
      4,620 SF

      Updated Office Space For Rent

      Updated office space in ideal location with abundant amenities.
      5286-5288 Commerce Dr, Murray, UT 84107
      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.
    488 Winchester St
    Murray, UT 84107
    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.