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    8335 Western Dr Magna, UT 84044
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    Property profile & analytics

    8335 Western Dr Magna, UT 84044

    View on Map
    • Residential income homes
    • 0.26 lot acres
    Off-Market
    Property ID
    US86-1340978
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential income homes

    Property Details for 8335 Western Dr

    Lot size
    0.26 lot acres
    Property type
    Residential income homes

    Description

    This exceptional Magna, Utah property presents a unique blend of historic charm and modern updates. Originally the Overseer's house for the Garfield Mine, this meticulously restored approximately 3,413 square foot home boasts two units, offering significant investment potential. The main level features restored hardwood floors, a remodeled kitchen with stainless steel appliances and granite countertops, a large bathroom with a rain shower head, spacious rooms, a formal dining room, and a 30' x 8' sunroom. The lower level includes three large bedrooms, a newly renovated bathroom, a spacious living area, and a huge storage room. Outdoor amenities include large fenced yards with mature trees, a private backyard, garden space, and two single-car garages. Shared spaces encompass the yards, driveway, garden area, and laundry facilities. The property sits on a 0.26-acre lot, offering the possibility of adding a third unit or an Accessory Dwelling Unit (ADU) to further increase value and rental income. Currently generating an approximate 7.5% cap rate, this property offers easy commuting access to the 201, U-111, and Mountain View Corridor, and is conveniently located near schools, restaurants, and shopping. Recently valued at over $625,000, this property is listed at $569,000. Built in 1924, the property offers a compelling investment opportunity with strong potential for future growth.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Magna
    County
    Salt Lake
    State
    Utah
    Longitude
    -112.09040197034
    Latitude
    40.708610878872

    Comparable in this City

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      Magna Fourplex Near Main Street

      Well-maintained fourplex in Magna, near amenities and public services.
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      Magna Duplex with Development Potential

      Income-generating duplex on large lot near Salt Lake City.
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      Magna Multifamily Property For Sale

      Three-unit multifamily property on a large lot in Magna, Utah.
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      1,656 SF

      Drive-Thru Redevelopment Opportunity

      Redevelopment potential with existing building and upper apartment.
      9068 W Magna Main St, Magna, UT 84044
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    • $550,000
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      Magna Triplex Income Property

      Charming triplex in Magna, great for rental income.
      2992 S 8850 W, Magna, UT 84044
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    • $800,000

      Iconic Building in Magna, Utah

      Two-story shell building on a 17,625 SF lot.
      8945 W Magna Main St, Magna, UT 84044
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    Similar Nearby for Sale

    • $899,000
      3,600 SF

      Magna Fourplex Near Main Street

      Well-maintained fourplex in Magna, near amenities and public services.
      2739 S Buccaneer Dr W, Magna, UT 84044
      View Details
    • $480,000
      1,430 SF

      Magna Duplex with Development Potential

      Income-generating duplex on large lot near Salt Lake City.
      2620 S 8590 W, Magna, UT 84044
      View Details
    • $745,000
      5,850 SF

      Magna Multifamily Property For Sale

      Three-unit multifamily property on a large lot in Magna, Utah.
      8812 W 3100 S, Magna, UT 84044
      View Details
    • Contact for pricing
      1,656 SF

      Drive-Thru Redevelopment Opportunity

      Redevelopment potential with existing building and upper apartment.
      9068 W Magna Main St, Magna, UT 84044
      View Details
    • $550,000
      2,919 SF

      Magna Triplex Income Property

      Charming triplex in Magna, great for rental income.
      2992 S 8850 W, Magna, UT 84044
      View Details
    • $800,000

      Iconic Building in Magna, Utah

      Two-story shell building on a 17,625 SF lot.
      8945 W Magna Main St, Magna, UT 84044
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Magna Industrial Land for Lease

      4.76 acres of M-2 zoned land with utilities.
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      43,560 SF

      Magna Retail or Office Space

      Versatile commercial space suitable for retail or office use.
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    • $32 SF/Yr

      Retail Space in Magna, Utah

      Retail space available in high-visibility Magna location near schools.
      2850 8400, Magna, UT 84044
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    • Contact for pricing

      Retail Development Land For Rent

      Land available for retail development, high traffic and visibility.
      7999 W 3500 S, Magna, UT 84044
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    Magna, UT 84044
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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.

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