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

    7220 Highland Dr Salt Lake City, UT 84121-4902

    • Banks
    • 3,814 SF
    • 0.98 lot acres
    OFF-MARKET
    Last Sale
    May 08, 2025
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US86-0302619
    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

    • Banks

    Property Details for 7220 Highland Dr

    Year built
    1982
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.98 lot acres
    Property size
    3,814 SF
    Zone code
    CR
    Property type
    Banks
    APN
    22-28-278-066
    APU
    2228278066

    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
    Salt Lake City
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.835
    Latitude
    40.6201
    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
    $20,978
    $1,181,300
    $819,500
    $2,000,800
    -
    $1,181,300
    $819,500
    $2,000,800

    Comparable in this City

    • Value Estimation
      $1,340,000
      25,382 SF

      7101 Highland Dr

      FINANCIAL BUILDING • 25,382 SF
      7101 Highland Dr, Salt Lake City, UT 84121-3703
      View Details
    • Value Estimation
      $660,000
      5,664 SF

      6940 Highland Dr

      FINANCIAL BUILDING • 5,664 SF
      6940 Highland Dr, Salt Lake City, UT 84121-3023
      View Details
    • Value Estimation
      $1,425,000
      17,526 SF

      957 6600th S

      FINANCIAL BUILDING • 17,526 SF
      957 6600th S, Murray, UT 84121-2444
      View Details
    • Value Estimation by Request
      6,472 SF

      1985 Ft Un Blvd

      FINANCIAL BUILDING • 6,472 SF
      1985 Ft Un Blvd, Salt Lake City, UT 84121-3080
      View Details
    • Value Estimation by Request
      6,400 SF

      1845 Ft Un Blvd

      FINANCIAL BUILDING • 6,400 SF
      1845 Ft Un Blvd, Salt Lake City, UT 84121-3041
      View Details
    • Value Estimation
      $680,000
      7,636 SF

      6440 3000th E

      FINANCIAL BUILDING • 7,636 SF
      6440 3000th E, Salt Lake City, UT 84121-5732
      View Details

    Similar Nearby for Sale

    • $6,700,000
      1,377 SF

      High-Producing Exxon Station

      Utah Gas Station - Prime Location
      2995 Fort Union Blvd, Cottonwood Heights, UT 84121
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    • $750,000
      3,192 SF

      Cottonwood Heights Duplex with Garages

      Duplex in Cottonwood Heights with garages. Remodeled unit.
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    • $1,290,000
      4,510 SF

      Salt Lake City Office Space

      Office space with convenient access to amenities and major routes.
      1214 E Vine St, Salt Lake City, UT 84121
      View Details
    • $995,000
      0.54 Acres

      Residential Land in Gated Community

      Homesite in a private, guarded community between city and mountains.
      4053 E Cyn Est Dr, Cottonwood Heights, UT 84121
      View Details
    • $500,000
      32,024 SF

      Cottonwood Heights Office Space Available

      Office condo in Cottonwood Heights with freeway access and parking.
      2469 E Fort Union Blvd, Salt Lake City, UT 84121
      View Details
    • $1,995,000
      0.80 Acres

      Residential Land in Gated Community

      Homesite in a private, guarded community between city and mountains.
      4171 S Canyons Est Dr, Cottonwood Heights, UT 84121
      View Details

    Similar Nearby for Lease

    • $2,250 /Mo
      1,000 SF

      Holladay Retail/Medical Space Available

      Retail or medical space in desirable Holladay location.
      6065 S Highland Dr, Salt Lake City, UT 84121
      View Details
    • $28 SF/Yr
      1,077 SF

      Retail Space Near Cottonwood Canyon

      Retail space available near Big and Little Cottonwood Canyons.
      3410-3438 Bengal Blvd, Salt Lake City, UT 84121
      View Details
    • Contact for pricing
      2,160 SF

      Salt Lake Valley Retail Space

      Retail spaces available in a 682,000 SF shopping center.
      6905-7035 S 1300 E, Salt Lake City, UT 84121
      View Details
    • Contact for pricing
      1,752 SF

      Retail Space in Salt Lake

      Retail spaces available in a large Salt Lake center.
      6927-6949 S Park Centre Dr, Salt Lake City, UT 84121
      View Details
    • Contact for pricing
      1,762 SF

      Retail Space in Salt Lake

      Retail spaces available in a large Salt Lake center.
      6927-6995 S Park Centre Dr, Salt Lake City, UT 84121
      View Details
    • Contact for pricing
      3,418 SF

      Retail Space in Salt Lake

      Retail spaces available in a large Salt Lake center.
      6924 S Park Centre Dr, Salt Lake City, UT 84121
      View Details
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    Salt Lake City, UT 84121-4902
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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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