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    The Largest CRE Database in the US with Over 1 Million Listings

    63 S 400 E Salt Lake City, UT 84111

    Sponsored
    For Sale
    $5,199,995

    MULTI_FAMILY - High Rise - Salt Lake City, UT

    Property size:
    3,220 SF
    Lot size:
    0.39 Acres
    Days on Market:
    3
    Last Refresh:
    Jan 26 at 4:06 am

    Property Features for 63 S 400 E

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Security features
    Security
    Window features
    Drapes, Blinds
    Zoning
    Multi-Family
    Rooms
    Bathroom 32, Bedroom 16, Bedroom 27, Bathroom 22, Bathroom 31, Bedroom 8, Bedroom 10, Bathroom 1, Bedroom 26, Bathroom 3, Bathroom 30, Bedroom 2, Bedroom 14, Bathroom 6, Bathroom 23, Bathroom 2, Bedroom 20, Bedroom 23, Bedroom 3, Bedroom 24, Bedroom 22, Bathroom 20, Bedroom 19, Bedroom 6, Bedroom 15, Bedroom 12, Bathroom 10, Bathroom 13, Bedroom 18, Bedroom 7, Bedroom 13, Bathroom 14, Bathroom 18, Bathroom 16, Bathroom 27, Bathroom 26, Bathroom 29, Bathroom 8, Bedroom 9, Bathroom 15, Bedroom 25, Bathroom 9, Bathroom 5, Bathroom 24, Bathroom 17, Bedroom 5, Bathroom 21, Bathroom 12, Bathroom 28, Bedroom 1, Bathroom 7, Bathroom 25, Bedroom 11, Bathroom 19, Bathroom 11, Bedroom 17, Bathroom 4, Bedroom 4, Bedroom 21
    Bedrooms
    27
    Bathrooms
    32
    APN
    16-06-204-014
    Interior features
    Alarm: Security
    Size
    3,220 SF
    Lot size
    0.39 Acres

    Utilities

    Heating system
    Natural Gas, Radiant

    Building Details

    Year built
    1931
    Number of units
    32
    Flooring type
    Tile, Hardwood
    Roof type
    Membrane
    Architectural style
    High Rise

    We can help!

    Listing Contact
    Jairo A Gomez

    Ascent Real Estate Group (801) 784-8511

    Listing agent Jairo A Gomez (801) 784-8511

    Listing date Jan 24, 2026

    MLS# 2130387 Listing URL

    Copyright © 2026 UtahRealEstate.com. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Redevelopment Site in Salt Lake City

    This 0.39-acre site, formerly the Chateau Normandie, is presented as a prime high-density redevelopment opportunity following extensive fire damage to the historic structure. It is positioned as a shovel-ready concept for a modern multi-family development. Located in an area with increasing vertical allowances, the site allows maximizing Floor Area Ratio (FAR) with a mid-to-high rise luxury complex. The property is zoned for multi-family use. The site is located in downtown Salt Lake City, near the TRAX line, City Creek, and the central business district, offering a walkable lifestyle for future tenants. The location benefits from the upcoming 2034 Winter Olympics, which is expected to increase land values. The property is located in Salt Lake City, Utah, with a near-zero downtown vacancy rate and high demand for modern housing.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Salt Lake City
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.879283
    Latitude
    40.767521

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    FAQs

    What type of property is this?
    Commercial land - Prime high-density redevelopment site in downtown Salt Lake City.
    Where is this commercial land located?
    The property is located at 63 S 400 E Salt Lake City, UT.
    What is the asking price?
    The asking price for this property is $5,199,995.
    What are key features of this property?
    This property features: - Prime high-density redevelopment site in downtown Salt Lake City.; - Shovel-ready concept for a modern multi-family complex (tear down and build up).; - Maximize FAR (Floor Area Ratio) with mid-to-high rise construction.
    (801) 784-8511
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    63 S 400 E Salt Lake City, UT 84111
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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
    63 S 400 E Salt Lake City, UT 84111
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    We can help!
    Listing Contact
    Jairo A Gomez
    (801) 784-8511
    Learn more
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