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Property profile & analytics
OFF-MARKET
Estimated value
$1,445,000
Strip malls
2720 State St, South Salt Lake, UT 84115-3618
Entity Owned
19-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US86-0077748
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2007
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
9,840 SF
Lot
0.88 ac (38,333 SF)
Zoning code
CC
APN
16-19-357-031
UPID
US86-0077748
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.28M
Blend (final)
Blend
$1.45M
Owner & transaction history
Palace Investments LLC · 19 yrs held
Palace Investments LLC
since 2007
7 recorded transactions
Zoning & alternative use
CC · South Salt Lake, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.4M
+42.5%
Medical building
$1.3M
+36.7%
Commercial (general)
$1.2M
+24.1%
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 South Salt Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs South Salt Lake 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
NEIGHBORHOOD: SHOPPING CENTER
$950,000
Current use
RESTAURANT
$1,355,000
Change: +43% · Conversion: Difficult
MEDICAL BUILDING
$1,300,000
Change: +37% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,180,000
Change: +24% · Conversion: Easy
RETAIL STORES
$1,155,000
Change: +21% · Conversion: Easy
Blend value · Realmo final
$1.45M
Range $1.30M – $1.59M · ±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
$147 / 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
$26,644
Tax year 2023
Assessed value
$2,382,300
Assessed 2023
Previous assessed
$2,382,300
+0.0% YoY
Effective rate
1.12%
On assessed value
Assessed land
$1,174,900
Assessed improvement
$1,207,400
Land market value
$1,174,900
Improvement market value
$1,207,400
Total market value
$2,382,300
Applied tax rate
14.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2007
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
5
Total area
9,840 SF
Lot
0.88 ac (38,333 SF)
Zoning code
CC
APN
16-19-357-031
UPID
US86-0077748
Jurisdiction
SALT LAKE
Zoning & alternative use
CC · South Salt Lake, UT
Zoning CC · permitted uses
CC · South Salt Lake, UT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
South Salt Lake. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$950,000
RESTAURANT
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.2M
RETAIL STORES
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
MEDICAL BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
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
2007
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
5
Lot
0.88 ac
Current owner
From public records · entity-resolved
Palace Investments LLC
Entity
Mailing address
5092 S BOABAB CT, SALT LAKE CITY, UT 84117-6883
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 16, 2024
—
Palace Investments LLC
—
Deed
related
$1,400,000 · Bank Of Utah
Mar 28, 2017
—
Palace Investments LLC
—
Deed
related
$1,052,000 · Bank Of Ut
Jun 23, 2008
—
Palace Investments LLC
—
Deed Of Trust
related
$1,500,000 · Cyprus Cu
Jan 12, 2007
—
Palace Investments LLC
Palace Investments LLC
Quit Claim Deed
related
$1,344,252 · Bank Of Utah
Sep 2, 2003
—
Palace Investments LLC
Papadopoulos,larry & Irene
Quit Claim Deed
related
—
Aug 13, 2002
—
Larry Papadopoulos
Call,gene S
Grant Deed
related
—
—
—
Palace Investments LLC
—
Deed Of Trust
related
$1,052,000 · Bank Of Utah
—
—
Palace Investments LLC
—
Loan Modification
related
$1,052,000 · Bank Of Ut
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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