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Property profile & analytics
OFF-MARKET
Estimated value
$8,760,000
Distribution centers
2390 2200th W Salt Lake City, UT 84116-1152
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US86-1461236
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2021
Total area
138,720 SF
Lot
8.76 ac (381,586 SF)
Zoning code
BP
APN
08-16-426-001
UPID
US86-1461236
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
-
Living spaces dc Warehouse & Storage
-
Living Spaces Warehouse Warehouse & Storage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.06M
Blend (final)
Blend
$8.76M
Owner & transaction history
Areit Sec Logistics Center LLC · 2 yrs held
Areit Sec Logistics Center LLC
since 2023
1 recorded transaction
Zoning & alternative use
BP · Salt Lake City, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$14.3M
+135.8%
Commercial (general)
$11.8M
+95.8%
Auto repair, garage
$10.1M
+66.4%
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
WAREHOUSE, STORAGE
$6,045,000
Current use
RETAIL STORES
$14,250,000
Change: +136% · Conversion: Moderate
COMMERCIAL (GENERAL)
$11,835,000
Change: +96% · Conversion: Difficult
AUTO REPAIR, GARAGE
$10,060,000
Change: +66% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$6,655,000
Change: +10% · Conversion: Moderate
OFFICE BUILDING
$5,975,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$8.76M
Range $7.88M – $9.64M · ±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
$63 / 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
$320,183
Tax year 2024
Assessed value
$26,953,700
Assessed 2024
Previous assessed
$26,953,700
+0.0% YoY
Effective rate
1.19%
On assessed value
Assessed land
$2,877,000
Assessed improvement
$24,076,700
Land market value
$2,877,000
Improvement market value
$24,076,700
Total market value
$26,953,700
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
2021
Heating
SPACE
Cooling
YES
Stories
1
Total area
138,720 SF
Lot
8.76 ac (381,586 SF)
Zoning code
BP
APN
08-16-426-001
UPID
US86-1461236
Jurisdiction
SALT LAKE
Zoning & alternative use
BP · Salt Lake City, UT
Zoning BP · permitted uses
BP · 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
$6.0M
RETAIL STORES
Est. value
$14.3M
COMMERCIAL (GENERAL)
Est. value
$11.8M
AUTO REPAIR, GARAGE
Est. value
$10.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.7M
OFFICE BUILDING
Est. value
$6.0M
WAREHOUSE, STORAGE Current
RETAIL STORES
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
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
2021
Heating
SPACE
Cooling
Yes
Stories
1
Lot
8.76 ac
Current owner
From public records · entity-resolved
Areit Sec Logistics Center LLC
Entity
Free & Clear · 2 yrs held
Mailing address
1700 N LINCOLN ST STE #2900, DENVER, CO 80203-4500
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
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
Sep 26, 2023
—
Areit Sec Logistics Center LLC
Hamilton I 215 Logistics Center LLC
Quit Claim Deed
—
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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