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Property profile & analytics
FOR LEASE
Investment properties
2890 E Cottonwood Pkwy Salt Lake City, UT 84121
Individually Owned
2-yr Hold
Free & Clear
Property ID
US86-0470094
For Lease
1 / 4
$31.50 SF/Yr
2890 E Cottonwood Pkwy, Salt Lake City, UT 84121
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Property summary
AI-generated overview
This exceptional commercial kitchen opportunity, located at 2890 E Cottonwood Pkwy, Cottonwood Heights, UT 84121, offers 3,581 square feet of fully equipped space within a larger 212,840 square foot building situated on 13.13 acres. The kitchen boasts three refrigerators, one freezer, multiple gas ovens, warmers, mixers, and café equipment, ensuring a seamless transition for any food service operation. The property features a dedicated loading dock with 24-hour access, ideal for efficient deliveries and operations. This space is perfect for catering businesses or food service providers seeking a premium location with established clientele. The building's ownership actively encourages food service options for its tenants, presenting a unique advantage for potential occupants. Enjoy breathtaking Wasatch Mountain Range views from this highly desirable Cottonwood Heights location. The property is currently part of a multi-tenant building. While a total of 3,851 square feet was initially marketed, the currently available space is 3,581 square feet.
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
1997
Construction
STEEL FRAME
Total area
114,700 SF
Lot
12.76 ac (555,826 SF)
Zoning code
ORD
APN
22-23-178-009
UPID
US86-0470094
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
tinamylender Benchmark Loan Service Bank
-
Miriam Aiazzi Loan Service Bank
-
Cardtronics ATM Atm
-
Wilson Electronics Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$24.35M
Comparable Approach
Comparable
$19.75M
Blend (final)
Blend
$22.05M
Owner & transaction history
Regence Bluecross Blueshield Of Uta · 2 yrs held
Regence Bluecross Blueshield Of Uta
since 2023
2 recorded transactions
Zoning & alternative use
ORD · Salt Lake City, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$31.6M
+130.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Salt Lake City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salt Lake City submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$26,380,000
6.5%
$24,350,000
7%
$22,610,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$13,760,000
Current use
APARTMENT HOUSE (5+ UNITS)
$31,645,000
Change: +130% · Conversion: Moderate
Blend value · Realmo final
$22.05M
Range $19.85M – $24.26M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$192 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$535,572
Tax year 2023
Assessed value
$54,913,600
Assessed 2023
Previous assessed
$54,913,600
+0.0% YoY
Effective rate
0.98%
On assessed value
Assessed land
$12,645,000
Assessed improvement
$42,268,600
Land market value
$12,645,000
Improvement market value
$42,268,600
Total market value
$54,913,600
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
For Lease
Year built
1997
Construction
STEEL FRAME
Heating
HOT WATER
Cooling
NONE
Buildings
4
Stories
4
Units
1
Total area
114,700 SF
Lot
12.76 ac (555,826 SF)
Zoning code
ORD
APN
22-23-178-009
UPID
US86-0470094
Jurisdiction
SALT LAKE
Zoning & alternative use
ORD · Salt Lake City, UT
Zoning ORD · permitted uses
ORD · Salt Lake City, UT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Salt Lake City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$13.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$31.6M
COMMERCIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1997
Construction
STEEL FRAME
Heating
HOT WATER
Cooling
Yes
Stories
4
Buildings
4
Units
1
Lot
12.76 ac
Current owner
From public records · entity-resolved
Regence Bluecross Blueshield Of Uta
Individual
Free & Clear · 2 yrs held
Mailing address
200 SW MARKET ST, PORTLAND, OR 97201-5703
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 14, 2023
—
Regence Bluecross Blueshield Of Uta
Rbcsu Realty LLC
Warranty Deed
—
May 3, 2023
—
Sets Re LLC
—
Deed
related
$850,000 · Mountain America FCU
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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