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Property profile & analytics
OFF-MARKET
Estimated value
$3,760,000
Investment properties
2505 Parleys Way Salt Lake City, UT 84109-1219
Entity Owned
16-yr Hold
~
Est. High Equity
Property ID
US86-0591847
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
30,999 SF
Lot
0.01 ac (436 SF)
Zoning code
CB
APN
16-22-283-007
UPID
US86-0591847
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
-
Architectural Nexus Landscape Architect Architect
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.55M
Blend (final)
Blend
$3.76M
Owner & transaction history
Architectural Nexus INC · 16 yrs held
Architectural Nexus INC
since 2009
7 recorded transactions
Zoning & alternative use
CB · Salt Lake City, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$4.1M
+62.0%
Restaurant
$4.1M
+60.3%
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
COMMERCIAL (GENERAL)
$2,525,000
Current use
MEDICAL BUILDING
$4,090,000
Change: +62% · Conversion: Easy
RESTAURANT
$4,050,000
Change: +60% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,470,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$3.76M
Range $3.38M – $4.14M · ±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
$121 / 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
$15,711
Tax year 2023
Assessed value
$8,669,200
Assessed 2023
Previous assessed
$8,669,200
+0.0% YoY
Effective rate
0.18%
On assessed value
Assessed land
$2,600,800
Assessed improvement
$6,068,400
Land market value
$2,600,800
Improvement market value
$6,068,400
Total market value
$8,669,200
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
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
YES
Buildings
2
Stories
1
Units
1
Total area
30,999 SF
Lot
0.01 ac (436 SF)
Zoning code
CB
APN
16-22-283-007
UPID
US86-0591847
Jurisdiction
SALT LAKE
Zoning & alternative use
CB · Salt Lake City, UT
Zoning CB · permitted uses
CB · 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
COMMERCIAL (GENERAL) Current
Est. value
$2.5M
MEDICAL BUILDING
Est. value
$4.1M
RESTAURANT
Est. value
$4.1M
AUTO REPAIR, GARAGE
Est. value
$2.5M
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
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
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Units
1
Lot
0.01 ac
Current owner
From public records · entity-resolved
Architectural Nexus INC
Entity
Mailing address
2505 E PARLEYS WAY, SALT LAKE CITY, UT 84109-1219
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 18, 2022
—
Architectural Nexus INC
—
Deed
related
$8,320,000 · Altabank
Feb 16, 2021
—
Architectural Nexus INC
—
Deed
related
$8,000,000 · Zb NA
Apr 25, 2017
—
Architectural Nexus INC
—
Deed
related
$4,810,000 · Zb NA
Jul 6, 2016
—
Architectural Nexus INC
—
Deed
related
$900,000 · Zions First Nat'l Bk
Oct 20, 2009
—
Architectural Nexus INC
Parleys Investments Lc
Grant Deed
$5,058,000 · Zions First National Bank
—
—
Architectural Nexus INC
—
Deed Of Trust
related
$900,000 · Zions First Nat'l Bk
—
—
Architectural Nexus INC
—
Deed Of Trust
related
$280,000 · Zions First National Bank
—
—
Architectural Nexus INC
—
Deed Of Trust
related
$150,000 · Zions First National Bank
—
—
Architectural Nexus INC
—
Deed Of Trust
related
$2,000,000 · Mountain West Small Busn Fin
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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