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Property profile & analytics
OFF-MARKET
Estimated value
$520,000
Warehouses
1506 Redwood Rd Salt Lake City, UT 84104-5105
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US86-0238112
Property summary
AI-generated overview
This exceptional 11,114 square foot industrial property, situated on a 0.6-acre lot in Salt Lake County, presents a unique investment opportunity. The single-tenant building boasts a highly desirable location on a hard corner with ample signage opportunities on Redwood Road, ensuring maximum exposure for your business. The building's flexible zoning (CC) allows for a variety of uses, making it ideal for businesses requiring high traffic visibility. The warehouse space features a clear ceiling height of 16 feet and is designed as a free-span area, providing maximum flexibility for layout and operations. Three convenient drive-in doors facilitate efficient loading and unloading. The property's strategic location and versatile design make it particularly well-suited for warehouse distribution, or businesses that benefit from high visibility, such as sports-related uses (soccer, pickleball, training facilities, fitness centers, etc.). This is a rare opportunity to acquire a well-positioned, functional industrial space in a thriving area. The property is ready for immediate occupancy. Contact us today to schedule a showing.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1957
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
11,114 SF
Lot
0.59 ac (25,700 SF)
Zoning code
CC
APN
15-15-177-021
UPID
US86-0238112
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
-
Granatos Import Warehouse & Storage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$580k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$466k
Blend (final)
Blend
$520k
Owner & transaction history
Tsp Salt Lake LLC · 1 yrs held
Tsp Salt Lake LLC
since 2025
4 recorded transactions
Zoning & alternative use
CC · Salt Lake City, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$805,000
+69.9%
Neighborhood: shopping center
$535,000
+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
$580,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$475,000
Current use
AUTO REPAIR, GARAGE
$805,000
Change: +70% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$535,000
Change: +13% · Conversion: Moderate
Blend value · Realmo final
$520k
Range $468k – $572k · ±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
$47 / 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
$17,804
Tax year 2024
Assessed value
$1,868,400
Assessed 2024
Previous assessed
$1,868,400
+0.0% YoY
Effective rate
0.95%
On assessed value
Assessed land
$559,000
Assessed improvement
$1,309,400
Land market value
$559,000
Improvement market value
$1,309,400
Total market value
$1,868,400
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1957
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
EVAPORATIVE
Buildings
2
Stories
1
Units
1
Total area
11,114 SF
Lot
0.59 ac (25,700 SF)
Zoning code
CC
APN
15-15-177-021
UPID
US86-0238112
Jurisdiction
SALT LAKE
Zoning & alternative use
CC · Salt Lake City, UT
Zoning CC · permitted uses
CC · 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
$475,000
AUTO REPAIR, GARAGE
Est. value
$805,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$535,000
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
1957
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Units
1
Lot
0.59 ac
Current owner
From public records · entity-resolved
Tsp Salt Lake LLC
Entity
Free & Clear · 1 yrs held
Mailing address
4131 E CUMORAH DR, MILLCREEK, UT 84124-4040
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 28, 2025
—
Tsp Salt Lake LLC
Orbit X LLC
Warranty Deed
—
Jul 7, 2021
—
Orbit X LLC
—
Deed
related
$1,255,000 · Goldenwest FCU
Dec 30, 2020
—
Orbit X LLC
Standard LLC
Special Warranty Deed
$1,250,000 · Standard LLC
Jul 15, 2019
—
Standard LLC
2k Investors LLC
Quit Claim Deed
related
—
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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