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Property profile & analytics
OFF-MARKET
Estimated value
$50,575,000
Investment properties
250 1950th W Salt Lake City, UT 84116-4578
Entity Owned
21-yr Hold
Free & Clear
Property ID
US86-0462307
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
2012
Total area
279,665 SF
Lot
18.71 ac (815,008 SF)
Zoning code
BP
APN
08-34-301-022
UPID
US86-0462307
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
-
Low Vision Services Government
-
State Mail State Government Office Government Office
-
State Mail & Distribution Services State Government Office
-
Utah State Library Division State Government Office
-
Services For Blind-Visually State Government Office Library
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$59.38M
Comparable Approach
Comparable
$41.77M
Blend (final)
Blend
$50.58M
Owner & transaction history
Salt Lake City Corp · 21 yrs held
Salt Lake City Corp
since 2004
2 recorded transactions
Zoning & alternative use
BP · Salt Lake City, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$36.9M
+54.7%
Restaurant
$35.5M
+48.7%
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%
$64,325,000
6.5%
$59,375,000
7%
$55,135,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$36,900,000
Change: +55% · Conversion: Easy
RESTAURANT
$35,485,000
Change: +49% · Conversion: Difficult
Blend value · Realmo final
$50.58M
Range $45.52M – $55.63M · ±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
$181 / 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 2022Property tax & assessments
Tax year 2022
Assessed value
$224,117,800
Assessed 2023
Previous assessed
$191,821,300
+16.8% YoY
Assessed land
$28,525,300
Assessed improvement
$195,592,500
Land market value
$28,525,300
Improvement market value
$195,592,500
Total market value
$224,117,800
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
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
Off-Market
Year built
2012
Heating
NONE
Cooling
YES
Buildings
10
Stories
4
Units
1
Total area
279,665 SF
Lot
18.71 ac (815,008 SF)
Zoning code
BP
APN
08-34-301-022
UPID
US86-0462307
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
MEDICAL BUILDING
Est. value
$36.9M
RESTAURANT
Est. value
$35.5M
MEDICAL BUILDING
RESTAURANT
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
2012
Heating
NONE
Cooling
Yes
Stories
4
Buildings
10
Units
1
Lot
18.71 ac
Current owner
From public records · entity-resolved
Salt Lake City Corp
Entity
Free & Clear · 21 yrs held
Mailing address
450 N STATE ST #4110, SALT LAKE CITY, UT 84114-9000
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 24, 2004
—
Salt Lake City Corp
State Building Ownership Autho
Quit Claim Deed
related
—
Oct 7, 2004
—
Salt Lake City Corp
State Building Ownership Autho
Quit Claim 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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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