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Property profile & analytics
OFF-MARKET
Estimated value
$14,555,000
Investment properties
1215 Wilmington Ave 1C Salt Lake City, UT 84106-4280
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US86-0900392
Property summary
AI-generated overview
This exceptional 7,514 square foot traditional office space is located at 1215 Wilmington Avenue in Salt Lake City, Utah, zip code 84106. Situated in a vibrant mixed-use development, this property offers a unique blend of office, multifamily, and retail environments. The space is currently configured for multiple tenants, providing flexibility for businesses of various sizes. The building is located in Salt Lake County and offers a prime location within Salt Lake City, providing easy access to major transportation routes and amenities. The specific layout and configuration of the available 7,514 square feet can be tailored to meet individual tenant needs. This presents a fantastic opportunity for businesses seeking a well-located, versatile office space in a thriving urban setting. The address is easily accessible and benefits from the energy and convenience of a mixed-use development. Further details regarding lease terms and specific space configurations are available upon request. This property is ideal for businesses seeking a prominent location in a dynamic and growing area of Salt Lake City. Inquire today to learn more about this exciting opportunity.
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
2014
Total area
79,078 SF
Lot
0.01 ac (436 SF)
APN
16-20-235-003
UPID
US86-0900392
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
-
SOMI Vietnamese Bistro Restaurant
-
Barebones Living (Bike/Boat/Book/etc) Store
-
Tifie Charitable Organization Social Service Agency
-
Verkada Association Or Organization
-
Traeger Grills Headquarters (Bike/Boat/Book/etc) Store Home Appliance Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$16.79M
Comparable Approach
Comparable
$12.32M
Blend (final)
Blend
$14.56M
Owner & transaction history
Wilmington Gardens Group LLC · 7 yrs held
Wilmington Gardens Group LLC
since 2018
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$10.4M
+21.4%
Restaurant
$10.1M
+17.9%
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%
$18,190,000
6.5%
$16,790,000
7%
$15,590,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$10,435,000
Change: +21% · Conversion: Easy
RESTAURANT
$10,135,000
Change: +18% · Conversion: Difficult
Blend value · Realmo final
$14.56M
Range $13.10M – $16.01M · ±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
$184 / 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
$221,197
Tax year 2023
Assessed value
$22,374,800
Assessed 2023
Previous assessed
$22,374,800
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$846,200
Assessed improvement
$21,528,600
Land market value
$846,200
Improvement market value
$21,528,600
Total market value
$22,374,800
Applied tax rate
1.0000
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
Off-Market
Year built
2014
Heating
NONE
Cooling
YES
Buildings
2
Stories
1
Units
5
Total area
79,078 SF
Lot
0.01 ac (436 SF)
APN
16-20-235-003
UPID
US86-0900392
Jurisdiction
SALT LAKE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$10.4M
RESTAURANT
Est. value
$10.1M
MEDICAL BUILDING
RESTAURANT
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
2014
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Units
5
Lot
0.01 ac
Current owner
From public records · entity-resolved
Wilmington Gardens Group LLC
Entity
Mailing address
2733 E PARLEYS WAY STE #300, SALT LAKE CITY, UT 84109-1661
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 30, 2018
—
Wilmington Gardens Group LLC
—
Grant Deed
related
$17,750,000 · Phl Variable Ins Co
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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