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Property profile & analytics
OFF-MARKET
Medical Office Space
242 400th E, Salt Lake City, UT 84111-2609
Entity Owned
6-yr Hold
Free & Clear
Property ID
US86-0256933
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,800 SF
Lot
0.16 ac (6,970 SF)
Zoning code
RMU
APN
16-06-252-005
UPID
US86-0256933
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
-
Burnett Rachel A ND Alternative Medicine Practice
-
Burnett Matthew D ND Alternative Medicine Practice
-
Utah Natural Medicine Medical Clinic
-
SLC Qi Community Acupuncture Medical Clinic Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Medical Arts LLC · 6 yrs held
Medical Arts LLC
since 2019
3 recorded transactions
Zoning & alternative use
RMU · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$6,533
Tax year 2023
Assessed value
$660,800
Assessed 2023
Previous assessed
$660,800
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$494,400
Assessed improvement
$166,400
Land market value
$494,400
Improvement market value
$166,400
Total market value
$660,800
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
4,800 SF
Lot
0.16 ac (6,970 SF)
Zoning code
RMU
APN
16-06-252-005
UPID
US86-0256933
Jurisdiction
SALT LAKE
Zoning & alternative use
RMU · Salt Lake City, UT
Zoning RMU · permitted uses
RMU · 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
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
0.16 ac
Current owner
From public records · entity-resolved
Medical Arts LLC
Entity
Free & Clear · 6 yrs held
Mailing address
1321 E CHANDLER DR, SALT LAKE CITY, UT 84103-4216
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 14, 2019
—
Medical Arts LLC
Rachel A Burnett
Warranty Deed
—
Nov 24, 2010
—
Burnett Rachel A 2010 Trust
Kulmer,morris
Warranty Deed
$250,000 · Morris H Kulmer
Nov 27, 2006
—
Morris Kulmer
National Jacl Cu
Warranty Deed
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.
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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