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    5518 High Market Dr West Valley City, UT 84120
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    Property profile & analytics

    5518 High Market Dr, West Valley City, UT 84120

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    • Outlet malls
    • 137,820 SF
    • 9.95 lot acres
    For Lease
    $3,695,000
    View Listing →
    Target Anchored Pad Available For Lease
    $3,695,000

    Target Anchored Pad Available

    Commercial space with drive-thru potential and easy access.

    5518 High Market Dr, West Valley City, UT 84120
    View Listing
    Property ID
    US86-0704731
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Outlet malls

    Property Details for 5518 High Market Dr

    Year built
    2012
    Lot size
    9.95 lot acres
    Zone code
    M
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    14-24-352-005
    APU
    1424352005

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 5, 2013 — Target Corp Suburban Land Reserve INC Quit Claim Deed · related $5.5M · Wfb NA

    Description

    This exceptional commercial property, located at 5518 High Market Dr, West Valley City, UT 84120, presents a unique investment opportunity. The site encompasses between one and two acres of land zoned for retail use, offering significant development potential. The property boasts a highly desirable location with easy access from 5600 W, ensuring excellent visibility and convenient access for customers. A key feature is the availability of a target-anchored pad site, ideal for a variety of retail businesses seeking high-traffic exposure. While drive-thru potential exists, it's important to note that this location is not within West Valley City's overlay zone for such establishments. The single-tenancy nature of the property provides flexibility for developers and investors. This Salt Lake County property is situated at latitude 40.71292486585276 and longitude -112.02091906058773. Contact us today to discuss pricing and explore the possibilities of this remarkable retail land opportunity. The property is classified as both Retail and Land, offering a versatile platform for various commercial ventures. Its strategic location and development potential make it an attractive proposition for discerning investors seeking a strong return on investment in a thriving market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    West Valley City
    County
    Salt Lake
    State
    Utah
    Longitude
    -112.023
    Latitude
    40.7138
    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
    $196,381
    $6,750,500
    $9,033,200
    $15,783,700
    -
    $6,750,500
    $9,033,200
    $15,783,700

    Comparable in this City

    • Value Estimation
      $3,285,000
      119,106 SF

      4850 3500th S

      WHOLESALE OUTLET, DISCOUNT STORE
      4850 3500th S, West Valley City, UT 84120-2927
      View Details
    • Value Estimation by Request
      7,686 SF

      4062 4000th W

      SHOPPING CENTER, STRIP CENTER
      4062 4000th W, West Valley City, UT 84120-4040
      View Details
    • Value Estimation by Request
      6,370 SF

      2662 5600th W

      SHOPPING CENTER, STRIP CENTER
      2662 5600th W, West Valley City, UT 84120-2164
      View Details
    • Value Estimation by Request
      9,089 SF

      4032 4100th S

      SHOPPING CENTER, STRIP CENTER
      4032 4100th S, West Valley City, UT 84120-5342
      View Details
    • Value Estimation
      $580,000
      12,060 SF

      2739 5600th W

      SHOPPING CENTER, STRIP CENTER
      2739 5600th W, West Valley City, UT 84120-6091
      View Details
    • Value Estimation
      $520,000
      12,656 SF

      4865 3500th S

      SHOPPING CENTER, STRIP CENTER
      4865 3500th S, West Valley City, UT 84120-2900
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      Pending

      WinCo Shadow-Anchored Retail Center

      Retail center anchored by WinCo Foods with daily-needs tenancy.
      2592 S 5600 W, West Valley City, UT 84120
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      986 SF

      Retail Space For Sale

      Retail space available, high traffic location.
      5595 W 3500 S, West Valley City, UT 84120
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      6,888 SF

      Retail Store, Garden, Event Center

      6,888 SF building on 2.30 acres, retail, garden, events.
      4080 W 4100 S, West Valley City, UT 84120
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    • Contact for pricing

      West Valley City Parcels Available

      Parcels for sale ideal for retail, restaurant, or office.
      4219 W 3500 S, West Valley City, UT 84120
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      40,000 SF

      40,000 SF Industrial Property

      Industrial property with showroom, warehouse, and highway access.
      4464 W 2100 S, Salt Lake City, UT 84120
      View Details
    • $879,000
      3,764 SF

      West Valley City Multifamily Property

      Turnkey investment property with long-term tenants and steady income.
      3279 S 4140 W, West Valley City, UT 84120
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,000 SF

      Retail Space in West Valley

      5,000 SF retail space with ample parking available for rent.
      4782 W 4100 S, West Valley City, UT 84120
      View Details
    • Contact for pricing
      1,276 SF

      Retail Space Available for Lease

      Retail spaces available for lease with high visibility and traffic.
      2885 S 5600 W, West Valley City, UT 84120
      View Details
    • Contact for pricing
      2,330 SF

      Retail Pads Available For Lease

      Retail spaces with drive-thru options and multiple access points.
      5479 W 4100 S, West Valley City, UT 84120
      View Details
    • Contact for pricing
      2,407 SF

      Retail Pads Available For Rent

      Retail spaces with drive-thru opportunity, four access points.
      5491 W 4100 S, West Valley City, UT 84120
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space Available For Rent

      Retail space available for lease in West Valley City.
      2927 S 5600 W, West Valley City, UT 84120
      View Details
    • Contact for pricing
      1,400 SF

      West Valley City Retail Space

      Retail spaces available near major food chains with high visibility.
      3300 S 5600 W, West Valley City, UT 84120
      View Details
    View Listing
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    West Valley City, UT 84120
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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.

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