55 Utopia AveSouth Salt Lake, UT 84115

Property Details for 55 Utopia Ave

Year built

2021

Lot size

2.15 AC

Property size (Sq ft)

474,646 SF

Zone code

DT

Property type

Parking lots & garages

APN

15-24-239-001

APU

1524239001

Description

This exceptional 4,889 square foot Class A executive office space is ideally situated in South Salt Lake's Sugarhouse submarket at 55 W Utopia Ave, 84115. Built in 2023, the entire building is currently available for lease. The property boasts a generous 2.15-acre lot, offering ample space and potential for expansion or outdoor amenities. The building's modern design and high-quality construction reflect its "A" classification. Located in Salt Lake County, Utah, this multiple-tenancy property presents a unique opportunity for businesses seeking a prestigious and functional workspace. The property is categorized as both retail and office, offering versatility for a variety of business types. The convenient location within the Sugarhouse submarket provides easy access to major transportation routes and a vibrant commercial environment. With its expansive square footage and prime location, this property is an excellent investment for businesses seeking to establish or expand their presence in the thriving South Salt Lake market. The entire 4,889 square feet is vacant and ready for immediate occupancy. This is a rare opportunity to secure a brand-new, high-quality office space in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $184,322,528

  6.5%

  $170,143,872

  7%

  $157,990,752

• Comparable approach

  Method

  Valuation

  Relative Method

  $239,640,224

  Geo Method

  $239,640,224

• Alternative Use

  Use

  Valuation

  Residential

  $143,522,720

  Hospitality

  $131,466,048

  Educational

  $109,378,208

  Medical

  $113,139,896

  Retail

  $170,143,872

Location Insight

City

Salt Lake City

County

Salt Lake

State

Utah

Latitude

40.7234

Longitude

-111.893

CBSA code

41620

CBSA name

SALT LAKE CITY, UT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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