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Property profile & analytics
OFF-MARKET
Estimated value
$1,600,000
Retail space
123 Ikea Way Draper, UT 84020-5901
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US86-0362874
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Total area
23,400 SF
Lot
1.75 ac (76,230 SF)
Zoning code
CSD
APN
27-36-476-015
UPID
US86-0362874
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.60M
Owner & transaction history
Alice Lane Home Collection LLC · 3 yrs held
Alice Lane Home Collection LLC
since 2023
6 recorded transactions
Zoning & alternative use
CSD · Draper, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.6M
+52.7%
Commercial (general)
$2.5M
+45.8%
Medical building
$2.2M
+32.4%
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 Draper submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Draper 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,690,000
Current use
RESTAURANT
$2,575,000
Change: +53% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,460,000
Change: +46% · Conversion: Easy
MEDICAL BUILDING
$2,235,000
Change: +32% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,725,000
Change: +2% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,650,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$1.60M
Range $1.44M – $1.76M · ±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
$68 / 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
$87,193
Tax year 2023
Assessed value
$9,094,000
Assessed 2023
Previous assessed
$9,094,000
+0.0% YoY
Effective rate
0.96%
On assessed value
Assessed land
$1,829,500
Assessed improvement
$7,264,500
Land market value
$1,829,500
Improvement market value
$7,264,500
Total market value
$9,094,000
Applied tax rate
55.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Heating
NONE
Cooling
YES
Stories
1
Units
1
Total area
23,400 SF
Lot
1.75 ac (76,230 SF)
Zoning code
CSD
APN
27-36-476-015
UPID
US86-0362874
Jurisdiction
SALT LAKE
Zoning & alternative use
CSD · Draper, UT
Zoning CSD · permitted uses
CSD · Draper, UT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Draper. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.7M
RESTAURANT
Est. value
$2.6M
COMMERCIAL (GENERAL)
Est. value
$2.5M
MEDICAL BUILDING
Est. value
$2.2M
WAREHOUSE, STORAGE
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$1.7M
RETAIL STORES Current
RESTAURANT
COMMERCIAL (GENERAL)
MEDICAL BUILDING
WAREHOUSE, STORAGE
AUTO REPAIR, GARAGE
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
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Lot
1.75 ac
Current owner
From public records · entity-resolved
Alice Lane Home Collection LLC
Entity
Mailing address
12417 N WILDFLOWER LN HIGHLAND
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 6, 2023
—
Alice Lane Home Collection LLC
Hicag LLC
Lease
$2,514,000 · Mountain West Small Business Finance
Dec 20, 2022
—
Hicag LLC
—
Deed
related
$2,531,200 · Hillcrest Bank
Nov 12, 2021
—
Hicag LLC
—
Deed
related
$6,157,400 · Nbh Bank NA
Nov 8, 2021
—
Hicag LLC
—
Deed
related
$6,157,400 · Nbh Bank NA
Oct 15, 2021
—
Hieag LLC
Alice Lane Home Collection LLC
Special Warranty Deed
—
Jan 20, 2021
—
Alice Lane Home Collection LLC
Ikea Property INC
Special Warranty Deed
$1,000,000 · Hillcrest Bank
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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