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Property profile & analytics
OFF-MARKET
Estimated value
$2,580,000
Investment properties
1815 Independence Blvd Salt Lake City, UT 84116-1461
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US86-0319879
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
1977
Construction
WOOD FRAME
Total area
18,601 SF
Lot
1.2 ac (52,272 SF)
Zoning code
R17000
APN
08-22-357-034
UPID
US86-0319879
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
$2.78M
Blend (final)
Blend
$2.58M
Owner & transaction history
Lpp 1814 Owner I LLC · 5 yrs held
Lpp 1814 Owner I LLC
since 2021
3 recorded transactions
Zoning & alternative use
R17000 · Salt Lake City, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.5M
+54.7%
Restaurant
$2.4M
+48.7%
Retail stores
$1.9M
+20.4%
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 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
COMMERCIAL (GENERAL)
$1,585,000
Current use
MEDICAL BUILDING
$2,455,000
Change: +55% · Conversion: Easy
RESTAURANT
$2,360,000
Change: +49% · Conversion: Difficult
RETAIL STORES
$1,910,000
Change: +20% · Conversion: Easy
Blend value · Realmo final
$2.58M
Range $2.32M – $2.84M · ±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
$139 / 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
$35,900
Tax year 2023
Assessed value
$6,602,600
Assessed 2023
Previous assessed
$6,602,600
+0.0% YoY
Effective rate
0.54%
On assessed value
Assessed land
$634,200
Assessed improvement
$5,968,400
Land market value
$634,200
Improvement market value
$5,968,400
Total market value
$6,602,600
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
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
Off-Market
Year built
1977
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
EVAPORATIVE
Buildings
2
Stories
2
Units
24
Total area
18,601 SF
Lot
1.2 ac (52,272 SF)
Zoning code
R17000
APN
08-22-357-034
UPID
US86-0319879
Jurisdiction
SALT LAKE
Zoning & alternative use
R17000 · Salt Lake City, UT
Zoning R17000 · permitted uses
R17000 · 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
$1.6M
MEDICAL BUILDING
Est. value
$2.5M
RESTAURANT
Est. value
$2.4M
RETAIL STORES
Est. value
$1.9M
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
RESTAURANT
RETAIL STORES
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
1977
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
2
Units
24
Lot
1.2 ac
Current owner
From public records · entity-resolved
Lpp 1814 Owner I LLC
Entity
Mailing address
27401 LOS ALTOS, MISSION VIEJO, CA 92691-6316
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 29, 2021
—
Lpp 1814 Owner I LLC
Aspen Cove Apartments LLC
Special Warranty Deed
$12,560,000 · Berkadia Commercial Mortgage LLC
Apr 28, 2017
—
Aspen Cove Apartments LLC
Aspen Cove II Lc
Quit Claim Deed
related
$6,903,000 · Berkadia Com'l Mtg
Sep 10, 2003
—
Cove Aspen II
Aspen Cove Lc
Quit Claim Deed
related
$2,790,000 · Pw Funding INC
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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