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Property profile & analytics
OFF-MARKET
Estimated value
$7,900,000
Distribution centers
1232 Gladiola St Salt Lake City, UT 84104-6578
Entity Owned
18-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US86-0521663
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
122,944 SF
Lot
7.57 ac (329,749 SF)
Zoning code
M-1
APN
15-08-451-006
UPID
US86-0521663
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
-
Clear Lamp AV DJ & Entertainment Business Service Center
-
Lerpin Outdoor Industrial Manufacturer Production Facility
-
J.B. Hunt Transport Services, Inc. Trucking Company
-
thyssenkrupp Supply Chain Services Logistics Company Freight Service
-
Freights Systems Inc Trucking Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.47M
Blend (final)
Blend
$7.90M
Owner & transaction history
Price California Avenue LLC · 18 yrs held
Price California Avenue LLC
since 2008
6 recorded transactions
Zoning & alternative use
M-1 · Salt Lake City, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$8.9M
+69.9%
Neighborhood: shopping center
$5.9M
+12.7%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$5,235,000
Current use
AUTO REPAIR, GARAGE
$8,890,000
Change: +70% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$5,900,000
Change: +13% · Conversion: Moderate
Blend value · Realmo final
$7.90M
Range $7.11M – $8.69M · ±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
$64 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$247,264
Tax year 2024
Assessed value
$25,948,600
Assessed 2024
Previous assessed
$25,948,600
+0.0% YoY
Effective rate
0.95%
On assessed value
Assessed land
$4,929,400
Assessed improvement
$21,019,200
Land market value
$4,929,400
Improvement market value
$21,019,200
Total market value
$25,948,600
Applied tax rate
13.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Units
8
Total area
122,944 SF
Lot
7.57 ac (329,749 SF)
Zoning code
M-1
APN
15-08-451-006
UPID
US86-0521663
Jurisdiction
SALT LAKE
Zoning & alternative use
M-1 · Salt Lake City, UT
Zoning M-1 · permitted uses
M-1 · 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
WAREHOUSE, STORAGE Current
Est. value
$5.2M
AUTO REPAIR, GARAGE
Est. value
$8.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.9M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
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
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Units
8
Lot
7.57 ac
Current owner
From public records · entity-resolved
Price California Avenue LLC
Entity
Mailing address
230 ES TEMPLE, SALT LAKE CITY, UT 84111-1205
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2008
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
Oct 6, 2016
—
Price California Avenue LLC
—
Deed
related
$5,700,000 · Miscellaneous Ins Co
May 29, 2008
—
Price California Avenue LLC
Sortech One LLC
Grant Deed
$5,000,000 · Allianz Life Insurance Co N Am
Sep 16, 2005
—
Sortech One LLC
Sortech LLC
Quit Claim Deed
—
Feb 8, 1999
—
Sor Tech LLC
—
Deed Of Trust
related
$1,572,878 · Riverton Center Lc
—
—
Sortech One LLC
—
Deed Of Trust
related
$5,000,000 · Allianz Life Insurance Co N Am
—
—
Price California Avenue LLC
—
Deed Of Trust
related
$5,700,000 · Miscellaneous 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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