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Property profile & analytics
OFF-MARKET
Estimated value
$1,340,000
Turn key restaurants
279 Broadway Salt Lake City, UT 84111-2413
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US86-0863656
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1929
Total area
16,451 SF
Lot
0.4 ac (17,424 SF)
Zoning code
R-MU
APN
16-06-179-029
UPID
US86-0863656
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
$995k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.68M
Blend (final)
Blend
$1.34M
Owner & transaction history
3rd & 3rd LLC · 11 yrs held
3rd & 3rd LLC
since 2015
7 recorded transactions
Zoning & alternative use
R-MU · Salt Lake City, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.2M
+67.3%
Retail stores
$1.4M
+3.9%
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
$995,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,300,000
Current use
MEDICAL BUILDING
$2,170,000
Change: +67% · Conversion: Difficult
RETAIL STORES
$1,350,000
Change: +4% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,165,000
Change: -10% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,070,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$1.34M
Range $1.21M – $1.47M · ±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
$81 / 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
$53,850
Tax year 2023
Assessed value
$5,447,100
Assessed 2023
Previous assessed
$5,447,100
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$1,440,500
Assessed improvement
$4,006,600
Land market value
$1,440,500
Improvement market value
$4,006,600
Total market value
$5,447,100
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1929
Heating
NONE
Cooling
YES
Buildings
2
Stories
1
Units
3
Total area
16,451 SF
Lot
0.4 ac (17,424 SF)
Zoning code
R-MU
APN
16-06-179-029
UPID
US86-0863656
Jurisdiction
SALT LAKE
Zoning & alternative use
R-MU · Salt Lake City, UT
Zoning R-MU · permitted uses
R-MU · 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
RESTAURANT Current
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$2.2M
RETAIL STORES
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.1M
RESTAURANT Current
MEDICAL BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1929
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Units
3
Lot
0.4 ac
Current owner
From public records · entity-resolved
3rd & 3rd LLC
Entity
Mailing address
151 S 500TH E, SALT LAKE CITY, UT 84102-1906
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 22, 2021
—
3rd & 3rd LLC
—
Deed
related
$2,746,500 · Washington Federal NA
Mar 2, 2015
—
3rd & 3rd LLC
Telephone & Telegraph Exchange Buil
Warranty Deed
$3,375,000 · Zions First National Bank
Dec 12, 2012
—
Telephone & Telegraph Exchange
Telephone & Telegraph Exchange
Quit Claim Deed
related
—
Oct 24, 2011
—
Telephone & Telegraph Exchange
270 South 300 East LLC
Grant Deed
related
—
Aug 23, 2010
$1,012,588
270 South 300 East LLC
Torkelson,daniel J
Trustees Deed
—
Oct 17, 2007
—
Salt Lake Antiques LLC
Evans,scott R & Teresa M
Warranty Deed
$1,500,000 · Miscellaneous Ins Co
—
—
Telephone & Telegraph Exchange
—
Deed Of Trust
related
$300,000 · Mark A Hadley
—
—
Telephone & Telegraph Exchange
—
Deed Of Trust
related
$250,000 · Salt Lake Cty
—
—
Telephone Ans Telegraph Exchan
—
Loan Modification
related
$135,000 · University First FCU
—
—
Telephone & Telegraph Exchange
—
Deed Of Trust
related
$820,000 · University First FCU
—
—
Evans,scott R & Teresa M
—
Deed Of Trust
related
$351,875 · Daniel D Franks
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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