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    Property profile & analytics

    5823 Commerce Dr Salt Lake City, UT 84107

    • Auto shops
    • 7,568 SF
    • 2.63 lot acres
    OFF-MARKET
    Value Estimations
    $535,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US86-0766498
    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

    • Auto shops

    Property Details for 5823 Commerce Dr

    Year built
    1987
    Lot size
    2.63 lot acres
    Property size
    7,568 SF
    Zone code
    2000
    Property type
    Auto shops
    APN
    21-13-329-001
    APU
    2113329001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $325,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $746,000
      Market price range: $383k - $834k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $605,000
      Current use
      COMMERCIAL (GENERAL)
      $745,000
      Change: +23% Conversion: Moderate
      RESTAURANT
      $725,000
      Change: +19% Conversion: Difficult
      WAREHOUSE, STORAGE
      $710,000
      Change: +17% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $560,000
      Change: -7% Conversion: Difficult
      RETAIL STORES
      $530,000
      Change: -12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Salt Lake City
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.901
    Latitude
    40.6453
    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
    2022
    $0.00
    $1,690,800
    $299,000
    $1,989,800
    -
    $1,690,800
    $299,000
    $1,989,800

    Comparable in this City

    • Value Estimation
      $1,140,000
      11,840 SF

      3932 500th E

      AUTO REPAIR, GARAGE • 11,840 SF
      3932 500th E, Salt Lake City, UT 84107-1872
      View Details
    • Value Estimation
      $1,070,000
      11,776 SF

      4231 State St

      AUTO REPAIR, GARAGE • 11,776 SF
      4231 State St, Salt Lake City, UT 84107-1514
      View Details
    • Value Estimation by Request
      5,600 SF

      175 Central Ave

      AUTO REPAIR, GARAGE • 5,600 SF
      175 Central Ave, Salt Lake City, UT 84107-1418
      View Details
    • Value Estimation by Request
      10,598 SF

      180 Hl Ave

      AUTO REPAIR, GARAGE • 10,598 SF
      180 Hl Ave, Salt Lake City, UT 84107
      View Details
    • Value Estimation by Request
      4,432 SF

      4165 Main St

      AUTO REPAIR, GARAGE • 4,432 SF
      4165 Main St, Salt Lake City, UT 84107-1547
      View Details
    • Value Estimation by Request
      8,188 SF

      5926 Stratler St

      AUTO REPAIR, GARAGE • 8,188 SF
      5926 Stratler St, Salt Lake City, UT 84107-6903
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      24,846 SF

      Multifamily Community in Murray, Utah

      Well-located multifamily community with income and appreciation potential.
      247 Vine St, Murray, UT 84107
      View Details
    • $4,791,600

      Land Positioned for Development

      Land suitable for mixed-use development in a growing area.
      700 E 3900 S, Salt Lake City, UT 84107
      View Details
    • $525,000
      3,000 SF

      Two-Story Office Condo For Sale

      3,000 SF office condo in Murray, UT, for sale.
      684 Vine St, Murray, UT 84107
      View Details
    • $3,500,000
      0.58 Acres

      Two-Story Office Building in Murray

      Two-story office building with long-term lease and future development potential.
      4252 S 700 E, Salt Lake City, UT 84107
      View Details
    • Contact for pricing
      60,723 SF

      Office Building with I-15 Visibility

      60,723 SF office building with immediate occupancy available.
      5296 Commerce Dr, Murray, UT 84107
      View Details
    • $725,000
      2,972 SF

      Commercial Building Near Fashion Place Mall

      2,972 SF commercial building with value-add opportunity near Fashion Place.
      184 E 5900 S, Murray, UT 84107
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Murray Showroom/Office/Warehouse Space

      10,000 Sq. Ft. Showroom/Office/Warehouse space available for lease.
      135 E 6100 S, Murray, UT 84107
      View Details
    • $24 SF/Yr

      Remodeled Retail/Office Space Available

      Recently remodeled retail or office space in downtown Murray.
      4901 S State St, Murray, UT 84107
      View Details
    • $22 SF/Yr
      1,836 SF

      Versatile Space Near Transportation Hub

      Adaptable space suitable for medical, retail, or office teams.
      182-196 W Vine St, Murray, UT 84107
      View Details
    • Contact for pricing
      3,500 SF

      Retail Space with Drive-Thru Potential

      3,500 SF retail space near I-15 and IHC Hospital.
      5283 S State St, Salt Lake City, UT 84107
      View Details
    • $2,000 /Mo
      800 SF

      Retail Space on State Street

      800 sq ft retail suite in high-traffic area.
      6657 S State St, Murray, UT 84107
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space Near Fashion Place

      3,000 SF retail space with high traffic exposure.
      5900 S State St, Salt Lake City, UT 84107
      View Details
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    5823 Commerce Dr
    Salt Lake City, UT 84107
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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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