1929 Highland Dr Market Research Report

Background

1929 Highland Dr is a residential property located in Salt Lake City, Utah. The property is a freestanding retail/office building featuring high-end improvements and aesthetics throughout. It offers prime Highland Drive frontage and is zoned CB, situated strategically between Sugarhouse and Millcreek City Center. The location benefits from over 20,000 average daily cars passing by and excellent nearby freeway access, making it an exceptional investment opportunity. Built in 1985, the site comprises a 4,537 square foot office/retail building and a 1,200 square foot warehouse building, standing out in the thriving Salt Lake City market.

Key Strategic Focus

The property is positioned to capitalize on high visibility and accessibility, making it suitable for a variety of commercial uses including retail and office spaces. Its proximity to major city centers and high traffic volume enhances its appeal to businesses seeking maximum exposure and customer engagement.

Financials and Funding

The property is currently listed for sale at $1,900,000 and is under contract, indicating active interest from potential buyers.

Technological Platform and Innovation

1929 Highland Dr features high-end improvements and modern aesthetic designs, enhancing its desirability to tenants and buyers. Its construction and design adhere to contemporary standards that ensure functionality and comfort suitable for diverse commercial applications.

Leadership and Management

As a residential property, 1929 Highland Dr does not have an internal leadership team. The property is managed by real estate professionals and agents responsible for its sale and ongoing management activities.

Market Insights and Dynamics

The Salt Lake City commercial real estate market is characterized by strong demand coupled with limited inventory, especially for well-located commercial properties. The median sale prices for commercial properties in the area reflect a competitive environment with significant buyer interest.

Competitor Analysis

Key competitors include commercial properties in the Sugarhouse and Millcreek City Center areas that offer similar amenities and accessibility. Properties with prime Highland Drive frontage and modern facility upgrades are particularly desirable, positioning 1929 Highland Dr competitively within the local market.

Strategic Collaborations and Partnerships

Due to its strategic location and attractive features, the property presents valuable opportunities for businesses aiming to establish a presence in high-traffic areas. Potential collaborations include partnerships with local businesses, retail chains, or service providers seeking to leverage the property's visibility and accessibility advantages.

Operational Insights

Located between Sugarhouse and Millcreek City Center, 1929 Highland Dr has access to a diverse customer base and benefits from a vibrant commercial environment. Its proximity to major freeways also enhances appeal for businesses requiring efficient transportation links.

Strategic Opportunities and Future Directions

The property's prime location and attributes offer opportunities for a range of commercial ventures such as retail stores, office spaces, or mixed-use developments. Future growth could be supported by property enhancements aimed at increasing attractiveness or by diversifying commercial utilization to maximize investment returns.