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

    6243 Redwood Rd Salt Lake City, UT 84123-6411

    • Medical offices
    • 25,480 SF
    • 1.78 lot acres
    OFF-MARKET
    Last Sale
    Apr 10, 2023
    Value Estimations
    $1,125,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US86-0026223
    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

    • Freer George a DDS / Dental Office
    • Bryan Christensen, DMD / Dental Office
    • BinsFx / Financial Advisor
    • Dr. Blake Maxfield / Dental Office
    • Scott Kelsey Mcgavin / Dental Office

    Property Details for 6243 Redwood Rd

    Year built
    1997
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.78 lot acres
    Property size
    25,480 SF
    Zone code
    RM
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    21-22-202-043
    APU
    2122202043

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $830,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,414,000
      Market price range: $1.02M - $4.77M

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

    Location Insight

    • Map
    • Local Demand
    City
    Salt Lake City
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.938
    Latitude
    40.6376
    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
    $15,795
    $889,800
    $2,000,800
    $2,890,600
    -
    $889,800
    $2,000,800
    $2,890,600

    Comparable in this City

    • Value Estimation
      $1,135,000
      37,644 SF

      6321 Redwood Rd

      MEDICAL BUILDING • 37,644 SF
      6321 Redwood Rd, Salt Lake City, UT 84123-6798
      View Details
    • Value Estimation by Request
      3,537 SF

      6321 Redwood Rd Ste, Unit 204

      MEDICAL BUILDING • 3,537 SF
      6321 Redwood Rd Ste, Salt Lake City, UT 84123-6972
      View Details
    • Value Estimation by Request
      3,030 SF

      5292 College Dr Ste, Unit 204

      MEDICAL BUILDING • 3,030 SF
      5292 College Dr Ste, Salt Lake City, UT 84123-2960
      View Details
    • Value Estimation by Request
      6,908 SF

      6087 Redwood Rd

      MEDICAL BUILDING • 6,908 SF
      6087 Redwood Rd, Salt Lake City, UT 84123-6853
      View Details
    • Value Estimation by Request
      1,748 SF

      6321 Redwood Rd Ste, Unit 201

      MEDICAL BUILDING • 1,748 SF
      6321 Redwood Rd Ste, Salt Lake City, UT 84123-6972
      View Details
    • Value Estimation by Request
      644 SF

      6321 Redwood Rd Ste, Unit 101

      MEDICAL BUILDING • 644 SF
      6321 Redwood Rd Ste, Salt Lake City, UT 84123-6799
      View Details

    Similar Nearby for Sale

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      Renovated Office Building For Sale

      Recently renovated office building with parking and freeway access.
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      Taylorsville Office Building For Sale

      Office building for sale with high traffic and freeway access.
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    • $355,000
      1,302 SF

      Taylorsville Townhome in Barrington Park

      Well-maintained townhome with new carpet and convenient access to amenities.
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    • $5,106,667
      14,461 SF

      Walgreens NNN Lease Investment Opportunity

      NNN lease with corporate guarantee by Walgreens Co.
      4668 S Redwood Rd, Salt Lake City, UT 84123
      View Details
    • $299,000
      0.63 Acres

      Taylorsville Land Opportunity

      Large lot in established neighborhood, close to amenities.
      1342 W Morning Sun Dr, Salt Lake City, UT 84123
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      21,398 SF

      Atherton Medical Office Space for Lease

      Central Valley West medical office suites available
      1020 Atherton Dr, Taylorsville, UT 84123
      View Details
    • $17 SF/Yr
      4,969 SF

      Medical/Office Space For Lease

      9,241 SF suite divisible into smaller units.
      6321 S Redwood Rd, Salt Lake City, UT 84123
      View Details
    • $17 SF/Yr
      56,777 SF

      Taylorsville Office Space For Lease

      West Valley Office Building, Multiple Suites Available
      960 Levoy Dr, Taylorsville, UT 84123
      View Details
    • $23 SF/Yr
      80,000 SF

      Prime Office Space Available

      Class A Office Building, 80,000 SF
      4215 Riverboat Rd, Murray, UT 84123
      View Details
    • $23 SF/Yr
      37,230 SF

      Taylorsville Office Space Available

      Three Suites, 6,108 - 21,007 SF
      4393 Riverboat Rd, Taylorsville, UT 84123
      View Details
    • $23 SF/Yr
      16,223 SF

      Modern Office Space with Amenities

      High-end office space near I-15 with gym and conference room.
      4393 S Riverboat Rd, Salt Lake City, UT 84123
      View Details
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    6243 Redwood Rd
    Salt Lake City, UT 84123-6411
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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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