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Property profile & analytics
FOR LEASE
Parking lots & garages
2188 Highland Dr, Salt Lake City, UT 84106
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US86-0631534
For Lease
1 / 3
$1,440,000
2188 Highland Dr, Salt Lake City, UT 84106
View Listing →
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
2021
Total area
324,035 SF
Lot
2.13 ac (92,783 SF)
Zoning code
CSHBD1
APN
16-20-206-051
UPID
US86-0631534
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
-
The Residences at Sugar Alley Apartment Complex Apartment Building
-
Edward Jones - Financial Advisor: Peter W Donnellon Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.23M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.65M
Blend (final)
Blend
$1.44M
Owner & transaction history
Sugarhouse Dixon LLC · 5 yrs held
Sugarhouse Dixon LLC
since 2020
1 recorded transaction
Zoning & alternative use
CSHBD1 · Salt Lake City, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$1,225,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.44M
Range $1.30M – $1.58M · ±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
$4 / 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
$51,300
Tax year 2023
Assessed value
$7,893,280
Assessed 2023
Previous assessed
$7,893,280
+0.0% YoY
Effective rate
0.65%
On assessed value
Assessed land
$4,118,590
Assessed improvement
$3,774,690
Land market value
$4,118,590
Improvement market value
$3,774,690
Total market value
$7,893,280
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
For Lease
Year built
2021
Heating
NONE
Cooling
YES
Buildings
11
Stories
1
Units
5
Total area
324,035 SF
Lot
2.13 ac (92,783 SF)
Zoning code
CSHBD1
APN
16-20-206-051
UPID
US86-0631534
Jurisdiction
SALT LAKE
Zoning & alternative use
CSHBD1 · Salt Lake City, UT
Zoning CSHBD1 · permitted uses
CSHBD1 · 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.
Building & site characteristics
From public records
Year built
2021
Heating
NONE
Cooling
Yes
Stories
1
Buildings
11
Units
5
Lot
2.13 ac
Current owner
From public records · entity-resolved
Sugarhouse Dixon LLC
Entity
Mailing address
11 SPANISH BAY DR, NEWPORT BEACH, CA 92660-4299
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
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
Oct 7, 2020
—
Sugarhouse Dixon LLC
—
Deed
related
$60,278,800 · Walker & Dunlop LLC
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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