4190 Highland DrMillcreek, UT 84124

Property Details for 4190 Highland Dr

Year built

1987

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.00 AC

Property size (Sq ft)

34,908 SF

Zone code

R-M

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

22-04-205-008

APU

2204205008

Description

This exceptional Millcreek, Utah office building, located at 4190 S Highland Dr, 84124, presents a fantastic leasing opportunity. The two-story, Class C building, constructed in 1986, offers a total of 22,679 square feet of versatile space, ideal for traditional office or medical office uses. The property features four suites, with a minimum divisible space of 530 square feet and a maximum contiguous space of 1,472 square feet, providing flexibility for various business needs. Ample parking is available with 78 spaces. The building is equipped with elevators for convenient access to all floors. Currently, multiple tenancies are available. This property boasts an all-inclusive full-service annual lease rate of $19.95 per square foot, a significant advantage, as this includes common area maintenance fees that are $3.00 per square foot less than the submarket average. The building's prime location in Millcreek offers easy access to major transportation routes and local amenities. This is an excellent opportunity to secure high-quality office space at a competitive price point in a desirable Utah location. Don't miss out on this chance to establish your business in this well-maintained and conveniently located building.

• CAP approach

  CAP return

  Valuation

  6%

  $11,435,132

  6.5%

  $10,555,506

  7%

  $9,801,542

• Comparable approach

  Method

  Valuation

  Relative Method

  $10,840,418

  Geo Method

  $10,840,418

• Alternative Use

  Use

  Valuation

  Residential

  $10,555,506

  Hospitality

  $9,668,787

  Educational

  $8,044,318

  Medical

  $8,320,974

  Retail

  $12,513,382

Location Insight

City

Salt Lake City

County

Salt Lake

State

Utah

Latitude

40.6805

Longitude

-111.843

CBSA code

41620

CBSA name

SALT LAKE CITY, UT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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