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Property profile & analytics
OFF-MARKET
Estimated value
$1,085,000
Parking lots & garages
22 Broadway Salt Lake City, UT 84111-2202
Individually Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US86-0579404
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
1991
Construction
CONCRETE
Total area
136,648 SF
Lot
0.92 ac (40,075 SF)
Zoning code
D-1
APN
16-06-153-011
UPID
US86-0579404
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
$1.09M
Owner & transaction history
Exchange Place Garage · 6 yrs held
Exchange Place Garage
since 2019
3 recorded transactions
Zoning & alternative use
D-1 · Salt Lake City, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the D-1 Central Business District is to provide for commercial and economic development within Salt Lake City's most urban and intense areas. A broad range of uses, including very high density housing, are intended to foster a twenty four hour activity environment consistent with the area's function as the business, office, retail, entertainme…
Zone name
Central Business District
General category
COMMERCIAL
Zone area
252.09 ac
Source
Realmo
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
PARKING LOT
$1,645,000
Current use
Blend value · Realmo final
$1.09M
Range $977k – $1.19M · ±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
$8 / 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
$51,230
Tax year 2023
Assessed value
$5,182,100
Assessed 2023
Previous assessed
$5,182,100
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$3,686,900
Assessed improvement
$1,495,200
Land market value
$3,686,900
Improvement market value
$1,495,200
Total market value
$5,182,100
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
Off-Market
Year built
1991
Construction
CONCRETE
Heating
NONE
Cooling
NONE
Stories
4
Units
615
Total area
136,648 SF
Lot
0.92 ac (40,075 SF)
Zoning code
D-1
APN
16-06-153-011
UPID
US86-0579404
Jurisdiction
SALT LAKE
Zoning & alternative use
D-1 · Salt Lake City, UTZoning D-1 · permitted uses
D-1 · Salt Lake City, UT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of the D-1 Central Business District is to provide for commercial and economic development within Salt Lake City's most urban and intense areas. A broad range of uses, including very high density housing, are intended to foster a twenty four hour activity environment consistent with the area's function as the business, office, retail, entertainment, cultural and tourist center of the region. Development is intended to be very intense with high lot coverage and large buildings that are placed close together while being oriented toward the pedestrian with a strong emphasis on a safe and attractive streetscape and preserving the urban nature of the downtown area. This district is appropriate in areas where supported by applicable master plans. The standards are intended to achieve established objectives for urban design, pedestrian amenities and land use control.
Zone name
Central Business District
General category
COMMERCIAL
Zone area
252.09 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
PARKING LOT Current
Est. value
$1.6M
PARKING LOT Current
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
1991
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
4
Units
615
Lot
0.92 ac
Current owner
From public records · entity-resolved
Exchange Place Garage
Individual
Mailing address
500 N MARKET PL DR, CENTERVILLE, UT 84014-1708
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
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
Nov 1, 2019
—
Exchange Place Garage
Place Garage Exchange
Correction Deed
related
—
—
—
Exchange Place Garage
—
Deed Of Trust
related
$3,300,000 · Lincoln National Life Ins
—
—
Exchange Place Garage
—
Deed Of Trust
related
$3,000,000 · American Investors Life Ins
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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