Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    700 Bitner Rd Park City, UT 84098-5489
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    700 Bitner Rd Park City, UT 84098-5489

    View on Map
    • Commercial real estate
    • 3,584 SF
    • 3.50 lot acres
    Off-Market
    Last Sale Aug 1, 2022
    Property ID
    US86-0066232
    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
    $520,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hot Rod & Yox Plumbing Heating / HVAC Service / General Contractor
    • Healing Hands Chiropractic / Alternative Medicine Practice
    • Nancy Pollard, LCSW / Foster Care Service / Social Service Agency
    • Whitney Hebbert / Counselor
    • Mountain Sprouts Children’s Center / Daycare Center / Foster Care Service

    Property Details for 700 Bitner Rd

    Year built
    1990
    Lot size
    3.50 lot acres
    Property size
    3,584 SF
    Property type
    Commercial real estate
    APN
    PP-84-A-2-A
    APU
    PP84A2A

    Description

    This exceptional 3.5-acre mixed-use property at 700 Bitner Rd, Park City, UT 84098, presents a unique investment opportunity. The site boasts a 3,600 square foot, one-story office building with a paved parking area, complemented by several sheds located to the east. A tranquil pond and wetlands area are situated on the eastern portion of the property. The land itself is relatively flat with a gentle northward slope. Access is provided via Bitner Road, a two-lane paved road running along the property's southern boundary, and an unpaved road to the north. The property's strategic location offers convenient access to Kimball Junction, just minutes away, and Park City's renowned ski resorts within a 20-minute drive. Salt Lake City International Airport is also easily accessible, approximately 35 minutes away. Neighboring properties include a townhome development to the east and a fire station to the west. The property's commercial zoning is conditional, allowing for a variety of development possibilities. Currently utilized as commercial space, this versatile property offers significant potential for future development and expansion. The asking price is $3,500,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $500,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $534,000
      Market price range: $199k - $1.52M

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

    Location Insight

    • Map
    • Local Demand
    City
    Park City
    County
    Summit
    State
    Utah
    Longitude
    -111.524
    Latitude
    40.723
    CBSA code
    25720
    CBSA name
    HEBER, UT MICROPOLITAN 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
    $9,406
    $1,524,600
    $96,085
    $1,620,685
    -
    $1,524,600
    $96,085
    $1,620,685

    Comparable in this City

    • Value Estimation
      $800,000
      2.56 Acres

      2417 High Mountain Rd Rds

      COMMERCIAL CONDOMINUIM • 2.56 Acres
      2417 High Mountain Rd Rds, Park City, UT 84098-6658
      View Details
    • Value Estimation by Request
      1.78 Acres

      3843 Lowr Vlg Rd

      COMMERCIAL (GENERAL) • 1.78 Acres
      3843 Lowr Vlg Rd, Park City, UT 84098
      View Details
    • Value Estimation by Request

      Park

      COMMERCIAL (GENERAL)
      Park, City, UT 84098
      View Details
    • Value Estimation by Request
      1.76 Acres

      Park

      COMMERCIAL (GENERAL) • 1.76 Acres
      Park, City, UT 84098
      View Details
    • Value Estimation by Request
      68 SF

      3558 Escala Ctc-41

      COMMERCIAL CONDOMINUIM • 68 SF
      3558 Escala Ctc-41, Park City, UT 84098
      View Details
    • Value Estimation by Request
      118 SF

      3551 Escala Ctsc-1

      COMMERCIAL CONDOMINUIM • 118 SF
      3551 Escala Ctsc-1, Park City, UT 84098-6709
      View Details

    Similar Nearby for Sale

    • $850,000
      1.32 Acres

      Land with Panoramic Mountain Views

      Prime land in Promontory, Utah with world-class amenities.
      6998 Painted Valley, Park City, UT 84098
      View Details
    • $825,000
      0.86 Acres

      Park City Homesite in Pinebrook

      Scenic 0.86-acre homesite near Park City's amenities.
      7144 Canyon Drive Ct, Park City, UT 84098
      View Details
    • $359,000
      0.25 Acres

      Summit Park Land For Sale

      Residential land with mountain views, close to Salt Lake and Park City.
      390 Woodland Dr, Summit Park, UT 84098
      View Details
    • $250,000
      0.41 Acres

      Residential Land in Park City

      Residential land for sale in Summit County, Park City.
      165 Paradise Rd, Park City, UT 84098
      View Details
    • $625,000

      Land For Sale Park City

      Land available for purchase in Park City, Utah.
      7676 Buckboard Dr, Park City, UT 84098
      View Details
    • $3,500,000
      9.03 Acres

      Park City Equestrian Lot

      Flat, livable land near Kimball Junction with mountain views.
      9693 N Red Hawk Trl, Park City, UT 84098
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,718 SF

      Modern Office Space with Views

      2,325 SF office space with mountain views for lease.
      4383 Forestdale Dr, Park City, UT 84098
      View Details
    • Contact for pricing
      1,375 SF

      Retail Space in Redstone Center

      Retail space available within a large shopping and office center.
      1678 Redstone Center Dr, Park City, UT 84098
      View Details
    • Contact for pricing
      2,329 SF

      Retail Space in Mixed-Use Development

      Retail space for lease in new Summit County development.
      3952 Lake Front Ct, Park City, UT 84098
      View Details
    • Contact for pricing
      13,899 SF

      Retail Space in Redstone

      Retail space available within a large mixed-use development.
      6030 Market St, Park City, UT 84098
      View Details
    • $32 SF/Yr
      5,000 SF

      Park City Commercial Flex Space

      Flex space ideal for showroom or office in Park City.
      4554 N Forestdale Dr, Park City, UT 84098
      View Details
    • Contact for pricing
      10,454 SF

      Park City Office Space Available

      Office space with flexible layout and natural light.
      5532 N Lillehammer Ln, Park City, UT 84098
      View Details
    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.
    700 Bitner Rd
    Park City, UT 84098-5489
    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.
    Sign Up Successful!
    You now have access to more from Realmo!