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

    4923 Douglas Corrigan Way Salt Lake City, UT 84116-2841

    • Hotels
    • 85,016 SF
    • 2.95 lot acres
    OFF-MARKET
    Last Sale
    Nov 15, 2021
    Value Estimations
    $1,595,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US86-0690366
    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

    • Homewood Suites by Hilton Salt Lake City Airport / Hotel & Motel / Vacation Rental

    Property Details for 4923 Douglas Corrigan Way

    Year built
    2016
    Lot size
    2.95 lot acres
    Property size
    85,016 SF
    Zone code
    M-1
    Property type
    Hotels
    Property subtype
    Motels
    APN
    07-36-477-009
    APU
    736477009

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,350,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,836,000
      Market price range: $1.39M - $2.61M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $2,010,000
      Current 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
    -112.01
    Latitude
    40.7713
    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
    $107,098
    $886,700
    $9,946,600
    $10,833,300
    -
    $886,700
    $9,946,600
    $10,833,300

    Comparable in this City

    • Value Estimation
      $1,370,000
      42,021 SF

      2084 Wn Temple

      HOTEL/MOTEL • 42,021 SF
      2084 Wn Temple, Salt Lake City, UT 84116
      View Details
    • Value Estimation
      $790,000
      30,458 SF

      315 Admiral Byrd Rd

      HOTEL/MOTEL • 30,458 SF
      315 Admiral Byrd Rd, Salt Lake City, UT 84116-3717
      View Details
    • Value Estimation
      $1,730,000
      97,202 SF

      2177 Wn Temple

      HOTEL/MOTEL • 97,202 SF
      2177 Wn Temple, Salt Lake City, UT 84116-2912
      View Details
    • Value Estimation
      $1,390,000
      71,422 SF

      5001 Wiley Post Way

      HOTEL/MOTEL • 71,422 SF
      5001 Wiley Post Way, Salt Lake City, UT 84116-2850
      View Details
    • Value Estimation
      $1,560,000
      68,928 SF

      4883 Douglas Corrigan Way

      HOTEL/MOTEL • 68,928 SF
      4883 Douglas Corrigan Way, Salt Lake City, UT 84116-2817
      View Details
    • Value Estimation
      $2,975,000
      85,299 SF

      4843 Douglas Corrigan Way

      HOTEL/MOTEL • 85,299 SF
      4843 Douglas Corrigan Way, Salt Lake City, UT 84116-2817
      View Details

    Similar Nearby for Sale

    • $3,200,000
      83,635 SF

      Airport-Adjacent Development Land

      Prime 1.92-acre lot, hotel project approved.
      280 Apollo Rd, Salt Lake City, UT 84116
      View Details
    • $3,950,000
      2 SF

      M-1 Zoned Development Land

      2.57 acres near Salt Lake City International Airport.
      238 North West Ct West, Salt Lake City, UT 84116
      View Details
    • $4,500,000
      0.19 Acres

      Salt Lake City Commercial Land

      Commercial land for sale in Salt Lake City, Utah.
      1 N 900 W, Salt Lake City, UT 84116
      View Details
    • $2,499,000
      0.50 Acres

      Commercial Property with Secure Yard

      9000 SF commercial building with showroom, shop, and warehouse.
      1621 N Beck St, Salt Lake City, UT 84116
      View Details
    • Contact for pricing
      21.00 Acres

      8000 N St

      Land • 21.00 Acres
      8000 N St, Salt Lake City, UT 84116
      View Details
    • Contact for pricing
      61,700 SF

      Industrial Facility with Highway Access

      61,700 SF industrial facility with easy highway access.
      1125 W 2300 N, Salt Lake City, UT 84116
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      202,400 SF

      Under Construction Warehouse/Office/Showroom Space

      Under construction showroom/office/warehouse space, estimated completion Q3 2026.
      3008 North West Ct West, Salt Lake City, UT 84116
      View Details
    • Contact for pricing
      187,415 SF

      Airport Commerce Center: Build-to-Suit

      187,415 SF Distribution Center, SLC
      2090 1830, Salt Lake City, UT 84116
      View Details
    • Contact for pricing
      1 SF

      Salt Lake City Ghost Kitchen

      Turnkey Commercial Kitchen, 250 sq ft.
      23 900, Salt Lake City, UT 84116
      View Details
    • Contact for pricing
      3,593 SF

      Conveniently Located Office Space Available

      Office space with easy access to transportation and amenities.
      176 N 2200 W, Salt Lake City, UT 84116
      View Details
    • Contact for pricing
      86,691 SF

      Salt Lake City Warehouse Space

      Available warehouse space with dock and grade-level loading doors.
      350 John Glenn Rd, Salt Lake City, UT 84116
      View Details
    • Contact for pricing
      285,149 SF

      I-80 Logistics Center Warehouse Space

      Large Salt Lake warehouse space available.
      354 John Glenn Rd, Salt Lake City, UT 84116
      View Details

    Property Visit Statistics

    • Visits by month
      4.9k
    • Visitors by month
      2.0k
    • Avg Time on site
      465 min
    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.
    4923 Douglas Corrigan Way
    Salt Lake City, UT 84116-2841
    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.