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    8851 Sandy Pkwy Sandy, UT 84070
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    Property profile & analytics

    8851 Sandy Pkwy, Sandy, UT 84070

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    • Investment properties
    • 32,000 SF
    • 1.56 lot acres
    For Lease
    $18 SF/Yr
    View Listing →
    Move-in Ready Office Space For Lease
    $18 SF/Yr
    6,246 SF

    Move-in Ready Office Space

    Ready office space with I-15 access and fiber connectivity.

    8851 Sandy Pkwy, Sandy, UT
    View Listing
    Property ID
    US86-0482704
    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

    • Western Reporting / Financial Advisor
    • XO Communications / Telecommunications Service / Data Center
    • ARKHIO / Construction Company / General Contractor
    • Clearsource / Telecommunications Service / Tech Support Center
    • ClearSource / Telecommunications Service / Tech Support Center

    Property Details for 8851 Sandy Pkwy

    Year built
    1997
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.56 lot acres
    Zone code
    CR-PUD
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    27-01-176-013
    APU
    2701176013

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 1, 2021 — Beacon Danbury Corporate LLC Parkway Partners Lc Special Warranty Deed $12k · Bellco Cu
    Feb 5, 2021 — Parkway Partners Lc Parkway Partners Special Warranty Deed —
    — — Parkway Partners Lc — Deed Of Trust · related $4M · Bank One NA

    Description

    This exceptional 29,870 square foot, Class B office building, located at 8851 Sandy Parkway in Sandy, Utah, presents a compelling owner-user opportunity. Built in 1997, this two-story building sits on a 1.56-acre lot and boasts a desirable multi-tenant configuration. The property features floor-to-ceiling glass windows, providing ample natural light. With a convenient location offering unparalleled access to I-15 at 9000 South, this property benefits from exceptional visibility and easy commutes. The building includes 6,246 and 14,353 square feet currently available for owner occupancy. Fiber optic connectivity is available, ensuring seamless communication and high-speed internet access. The property offers a generous parking ratio of 4 spaces per 1,000 square feet. The permitted zoning is CR-PUD, making it ideally suited for a variety of uses, including medical and dental offices. The asking price is $8,000,000, translating to a land value of $267.83 per square foot. This is a rare opportunity to acquire a well-located, versatile office building in a thriving Utah market. The property is situated in Salt Lake County, Utah, with a zip code of 84070.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,179,000
      Market price range: $1.84M - $7.54M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $4,575,000
      Current use
      MEDICAL BUILDING
      $5,510,000
      Change: +20% Conversion: Easy
      RESTAURANT
      $3,740,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Sandy
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.904
    Latitude
    40.5908
    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
    $44,432
    $1,011,400
    $3,494,900
    $4,506,300
    -
    $1,011,400
    $3,494,900
    $4,506,300

    Comparable in this City

    • Value Estimation
      $2,070,000
      15,432 SF

      9550 State St

      STORE/OFFICE (MIXED USE)
      9550 State St, Sandy, UT 84070-3211
      View Details
    • Value Estimation
      $3,285,000
      25,528 SF

      8722 Harrison St

      STORE/OFFICE (MIXED USE)
      8722 Harrison St, Sandy, UT 84070-1420
      View Details
    • Value Estimation
      $3,820,000
      17,027 SF

      9661 Monroe St, Unit 3

      STORE/OFFICE (MIXED USE)
      9661 Monroe St, Sandy, UT 84070
      View Details
    • Value Estimation
      $5,110,000
      44,106 SF

      280 10200th S

      STORE/OFFICE (MIXED USE)
      280 10200th S, Sandy, UT 84070-4379
      View Details
    • Value Estimation
      $4,840,000
      40,684 SF

      9890 300th W

      STORE/OFFICE (MIXED USE)
      9890 300th W, Sandy, UT 84070-3268
      View Details
    • Value Estimation by Request
      4,962 SF

      10813 700th E

      STORE/OFFICE (MIXED USE)
      10813 700th E, Sandy, UT 84070-4702
      View Details

    Similar Nearby for Sale

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      1,075 SF

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      Sandy Utah Industrial Investment Opportunity

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      Riverside Drive Investment Opportunity

      Two-story mixed-use property with complete interior renovation and parking.
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    • $2,749,000
      1.17 Acres

      Shovel Ready Entitled Commercial Land

      1.17 acres of commercial land with fully entitled plans.
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    • $4,999,825

      Versatile Industrial Building Near I-15

      Industrial building with warehouse and office space, near I-15.
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      Prime Lot Near South Towne

      Half-acre commercial lot near South Towne Mall available for development.
      10510 S State St, Sandy, UT 84070
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    Similar Nearby for Lease

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      23,255 SF

      Sandy Industrial Manufacturing Space

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      Prime Retail Space Available

      Retail space for rent in a high-traffic Sandy location.
      10101 S State St, Sandy, UT 84070
      View Details
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      I-15 Frontage Flex Space

      3,120 SF flex space with I-15 frontage available for lease.
      9070 S 300 W, Sandy, UT 84070
      View Details
    • $26 SF/Yr

      Retail & Warehouse Space Available

      Versatile retail and warehouse space in a prime location.
      10763 S State St, Sandy, UT 84070
      View Details
    • Contact for pricing
      6,246 SF

      Move-in Ready Office Space

      Ready office space with I-15 access and fiber connectivity.
      8851 Sandy Pkwy, Sandy, UT 84070
      View Details
    • Contact for pricing
      4,454 SF

      Sandy Flex Space For Rent

      Flex space with easy I-15 access in Sandy, Utah.
      9418 S 670 W, Sandy, UT 84070
      View Details
    View Listing
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    Sandy, UT 84070
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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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