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    Property profile & analytics

    588 S 2000 W Springville, UT 84664

    • Warehouses
    • 79,260 SF
    • 5.24 lot acres
    For Lease
    View listing
    $12,000,000
    Last Sale
    Jul 08, 2021
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US86-0702130
    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

    • Allurance Skin / Medical Clinic
    • iCOLLAGENE / Association / Organization
    • Innovative Flex Pak / Packaging Company

    Property Details for 588 S 2000 W

    Year built
    2002
    Lot size
    5.24 lot acres
    Property size
    79,260 SF
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    26-045-0089
    APU
    260450089

    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
    Springville
    County
    Utah
    State
    Utah
    Longitude
    -111.649
    Latitude
    40.1581
    CBSA code
    39340
    CBSA name
    PROVO-OREM, 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
    $162,322
    $0.00
    $0.00
    $16,261,500
    -
    $1,511,100
    $14,750,400
    $16,261,500

    Comparable in this City

    • Value Estimation by Request
      58,699 SF

      2277 700th S

      MINI-WAREHOUSE, STORAGE • 58,699 SF
      2277 700th S, Springville, UT 84663-6154
      View Details
    • Value Estimation by Request
      5,959 SF

      2110 1150th N, Unit 500

      MINI-WAREHOUSE, STORAGE • 5,959 SF
      2110 1150th N, Springville, UT 84663-3352
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    • Value Estimation by Request
      3,757 SF

      285 1300th E

      MINI-WAREHOUSE, STORAGE • 3,757 SF
      285 1300th E, Springville, UT 84663
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    • Value Estimation by Request
      11,170 SF

      549 2000th W

      MINI-WAREHOUSE, STORAGE • 11,170 SF
      549 2000th W, Springville, UT 84663-3323
      View Details
    • Value Estimation by Request
      7,780 SF

      875 400th W

      MINI-WAREHOUSE, STORAGE • 7,780 SF
      875 400th W, Springville, UT 84663
      View Details
    • Value Estimation by Request
      1,760 SF

      980 50th W

      MINI-WAREHOUSE, STORAGE • 1,760 SF
      980 50th W, Springville, UT 84663-2432
      View Details

    Similar Nearby for Sale

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      Springville, UT Flex Space - $1.9M
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      Springville Industrial Portfolio

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    • $25,818,552
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      Springville Commercial Land

      49-acre development site, I-15 frontage.
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    Similar Nearby for Lease

    • $16 SF/Yr
      3,150 SF

      Warehouse Space with Fenced Yard

      3,402 SF warehouse with loading dock and fenced yard.
      565 N Main St, Springville, UT 84663
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    • $1.05 SF/Yr
      40,653 SF

      Springville Warehouse with Office Space

      Warehouse space with offices available in Springville industrial park.
      2414 West 700 South, Springville, UT 84663
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    • $2,200 /Mo
      4,035 SF

      Springville Warehouse with 3 Doors

      Industrial warehouse space available immediately off I-15.
      2499 W 700 S, Springville, UT 84663
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    • $2,495 /Mo
      40,000 SF

      Industrial Space Near I-15

      Industrial property for rent located directly off of I-15.
      478 W Frontage Rd, Springville, UT 84663
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    • Contact for pricing
      67,200 SF

      Springville Industrial Space

      67,200 SF Industrial Building, Utah
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    • Contact for pricing
      100,000 SF

      Springville Warehouse Near I-15

      100,000 SF warehouse/distribution space, convenient I-15 access.
      530 South 2000 West, Springville, UT 84663
      View Details
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    588 S 2000 W
    Springville, UT 84664
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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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