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    869 Turf Farm Rd Payson, UT 84651
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    869 Turf Farm Rd, Payson, UT 84651

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    • Drug stores
    • 3,477 SF
    • 0.49 lot acres
    For Sale
    $2,200,000
    View Listing →
    Payson Retail Investment Opportunity For Sale
    $2,200,000

    Payson Retail Investment Opportunity

    High-Yield Retail Property, Payson, UT

    869 Turf Farm Rd, Payson, UT 84651
    View Listing
    Property ID
    US86-0882737
    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

    • Mid City Vapor Lounge Payson / (Bike/Boat/Book/etc) Store

    Property Details for 869 Turf Farm Rd

    Year built
    2014
    Lot size
    0.49 lot acres
    Property type
    Drug stores
    APN
    49-771-0002
    APU
    497710002

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 16, 2021 — Beau Sutherland Maxon Mjch Investments LLC Warranty Deed $550k · Cyprus FCU
    Sep 14, 2018 — Mjch Investments LLC Birdseye Holdings Company LLC Warranty Deed $720k · Zb NA
    Aug 28, 2014 — Birdseye Holding Co LLC Payson Place LLC Warranty Deed $870k · Wells Fargo Bk

    Description

    This exceptional Payson, UT retail property, encompassing parcels 869 and 871 Turf Farm, presents a lucrative investment opportunity. The 0.49-acre site boasts a prime location surrounded by other retail businesses, ensuring high visibility and foot traffic. The property currently houses two triple-net tenants, generating a substantial annual net income of $140,000. Leases include a built-in 3% annual escalation clause, providing consistent growth potential. Recent upgrades significantly enhance the property's value and operational efficiency. In 2022, a $45,000 investment upgraded the electrical system to a robust 3-phase 400-amp service, specifically benefiting the on-site restaurant. Further improvements in 2024 included a complete landscaping overhaul costing $26,000, resulting in a visually appealing and well-maintained property. The building itself is in excellent condition. The property offers a compelling 6.59% capitalization rate, making it an attractive investment for discerning buyers. While square footage is estimated from an appraisal, potential buyers are encouraged to conduct their own independent measurement. This turnkey operation provides immediate cash flow and a strong foundation for long-term growth in a thriving retail market. The property's strategic location, strong tenant occupancy, and recent upgrades combine to create a truly exceptional investment opportunity.

    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
    Payson
    County
    Utah
    State
    Utah
    Longitude
    -111.754
    Latitude
    40.0306
    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
    $8,602
    $0.00
    $0.00
    $877,800
    -
    $365,100
    $512,700
    $877,800

    Comparable in this City

    • Value Estimation by Request
      14,437 SF

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      5 Main St

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      1,801 SF

      2 Main St

      RETAIL STORES (PERSONAL SERVICES)
      2 Main St, Payson, UT 84651-2239
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    • Value Estimation by Request
      7,459 SF

      1292 Turf Farm Way

      RETAIL STORES (PERSONAL SERVICES)
      1292 Turf Farm Way, Payson, UT 84651-6504
      View Details
    • Value Estimation by Request
      2,573 SF

      115 Utah Ave

      BARBER, HAIR SALON
      115 Utah Ave, Payson, UT 84651-2100
      View Details
    • Value Estimation by Request
      2,528 SF

      114 400th S

      LAUNDROMAT (SELF-SERVICE)
      114 400th S, Payson, UT 84651-2816
      View Details

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      Up to 5,000 SF retail space near Walmart Supercenter.
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      Retail Land I-15 Access

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    View Listing
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    Payson, UT 84651
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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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