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Property profile & analytics
OFF-MARKET
Estimated value
$1,910,000
Theaters & concert halls
2227 Highland Dr Salt Lake City, UT 84106-2808
Entity Owned
11-yr Hold
Free & Clear
Property ID
US86-0668156
Property profile
Verified
Property type
Theaters & concert halls
Use group
THEATER (MOVIE)
Year built
1954
Total area
36,347 SF
Lot
1.88 ac (81,893 SF)
Zoning code
CSHBD1
APN
16-20-276-050
UPID
US86-0668156
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
-
Zao Asian Cafe Restaurant
-
Cinemark Sugarhouse Cinema Theater & Performing Art Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.37M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.46M
Blend (final)
Blend
$1.91M
Owner & transaction history
Dees Sugarhouse Invs LLC · 11 yrs held
Dees Sugarhouse Invs LLC
since 2015
5 recorded transactions
Zoning & alternative use
CSHBD1 · Salt Lake City, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.9M
+80.7%
Warehouse, storage
$2.7M
+65.4%
Apartment house (5+ units)
$2.2M
+39.6%
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
$1,370,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
THEATER (MOVIE)
$1,605,000
Current use
AUTO REPAIR, GARAGE
$2,895,000
Change: +81% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,650,000
Change: +65% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,240,000
Change: +40% · Conversion: Difficult
Blend value · Realmo final
$1.91M
Range $1.72M – $2.10M · ±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
$53 / 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
$54,528
Tax year 2023
Assessed value
$5,515,700
Assessed 2023
Previous assessed
$5,515,700
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$2,344,200
Assessed improvement
$3,171,500
Land market value
$2,344,200
Improvement market value
$3,171,500
Total market value
$5,515,700
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
Theaters & concert halls
Use group
THEATER (MOVIE)
Status
Off-Market
Year built
1954
Heating
NONE
Cooling
YES
Stories
1
Units
4
Total area
36,347 SF
Lot
1.88 ac (81,893 SF)
Zoning code
CSHBD1
APN
16-20-276-050
UPID
US86-0668156
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.
Alternative use value scenarios
Repositioning upside vs current use
THEATER (MOVIE) Current
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$2.9M
WAREHOUSE, STORAGE
Est. value
$2.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.2M
THEATER (MOVIE) Current
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
APARTMENT HOUSE (5+ UNITS)
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
1954
Heating
NONE
Cooling
Yes
Stories
1
Units
4
Lot
1.88 ac
Current owner
From public records · entity-resolved
Dees Sugarhouse Invs LLC
Entity
Free & Clear · 11 yrs held
Mailing address
1136 E WILMINGTON AVE, SALT LAKE CITY, UT 84106-2819
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 27, 2018
—
Cinemark USA INC
—
Deed
related
—
Mar 3, 2015
—
Dees Sugarhouse Invs LLC
Dees Sugarhouse Center LLC
Quit Claim Deed
—
—
—
Cinemark USA INC
—
Loan Modification
related
—
—
—
Cinemark USA INC
—
Loan Modification
related
—
—
—
Cinemark USA INC
—
Loan Modification
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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