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Property profile & analytics
OFF-MARKET
Estimated value
$1,350,000
Warehouses
254 Central Ave Salt Lake City, UT 84107-1420
Entity Owned
19-yr Hold
Absentee Owner
Free & Clear
Property ID
US86-0603117
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2005
Total area
9,759 SF
Lot
0.45 ac (19,602 SF)
Zoning code
M-1
APN
15-36-452-023
UPID
US86-0603117
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
-
Empire Custom Exteriors Construction Company
-
Decorative Woodwork Supply (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.41M
Comparable Approach
Comparable
$1.30M
Blend (final)
Blend
$1.35M
Owner & transaction history
Bailey Gibson Ventures Lc · 19 yrs held
Bailey Gibson Ventures Lc
since 2007
6 recorded transactions
Zoning & alternative use
M-1 · Salt Lake City, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.4M
+54.2%
Commercial (general)
$960,000
+4.8%
Restaurant
$930,000
+1.8%
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%
$1,525,000
6.5%
$1,405,000
7%
$1,305,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$915,000
Current use
MEDICAL BUILDING
$1,410,000
Change: +54% · Conversion: Difficult
COMMERCIAL (GENERAL)
$960,000
Change: +5% · Conversion: Difficult
RESTAURANT
$930,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$1.35M
Range $1.22M – $1.49M · ±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
$138 / 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
$23,410
Tax year 2024
Assessed value
$2,006,000
Assessed 2024
Previous assessed
$2,006,000
+0.0% YoY
Effective rate
1.17%
On assessed value
Assessed land
$306,500
Assessed improvement
$1,699,500
Land market value
$306,500
Improvement market value
$1,699,500
Total market value
$2,006,000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2005
Heating
SPACE
Stories
1
Total area
9,759 SF
Lot
0.45 ac (19,602 SF)
Zoning code
M-1
APN
15-36-452-023
UPID
US86-0603117
Jurisdiction
SALT LAKE
Zoning & alternative use
M-1 · Salt Lake City, UT
Zoning M-1 · permitted uses
M-1 · 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
$915,000
MEDICAL BUILDING
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$960,000
RESTAURANT
Est. value
$930,000
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
2005
Heating
SPACE
Stories
1
Lot
0.45 ac
Current owner
From public records · entity-resolved
Bailey Gibson Ventures Lc
Entity
Free & Clear · 19 yrs held
Mailing address
5824 S ROYALTON DR, MURRAY, UT 84107-6559
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 2, 2007
—
Bailey Gibson Ventures Lc
440 Broadway Lc
Warranty Deed
—
May 11, 2005
—
440 Broadway Lc
Tapestry Investments LLC
Warranty Deed
—
Jan 5, 2005
—
Tapestry Investments LLC
—
Trustees Deed
related
$473,930 · Brighton Bank
—
—
Magpie Holding LLC
—
Deed Of Trust
related
$623,000 · Bank Of Utah
—
—
Tapestry Investments LLC
—
Deed Of Trust
related
$643,999 · Brighton Bank
—
—
Tapestry Investment LLC
—
Deed Of Trust
related
$1,165,000 · Brighton Bank
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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