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Property profile & analytics
OFF-MARKET
Estimated value
$550,000
Medical Office Space
3001 Richmond St Salt Lake City, UT 84106-3005
Entity Owned
15-yr Hold
~
Est. High Equity
Property ID
US86-1450665
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2011
Total area
6,762 SF
Lot
0.64 ac (27,878 SF)
Zoning code
R-M
APN
16-29-280-025
UPID
US86-1450665
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
-
Mark L. Pettit, DDS Dental Office
-
Richard D. Martinez DDS Physician
-
Salt Lake Academy of Dental Assisting Dental Office Vocational School
-
Fast Commercial Air Systems Co Hardware & Home Improvement HVAC Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$390k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$710k
Blend (final)
Blend
$550k
Owner & transaction history
Kblk Holdings LLC · 15 yrs held
Kblk Holdings LLC
since 2011
7 recorded transactions
Zoning & alternative use
R-M · Salt Lake City, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$390,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$890,000
Current use
RESTAURANT
$865,000
Change: -3% · Conversion: Difficult
COMMERCIAL (GENERAL)
$735,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$550k
Range $495k – $605k · ±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
$12,506
Tax year 2023
Assessed value
$1,063,100
Assessed 2023
Previous assessed
$1,063,100
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$766,300
Assessed improvement
$296,800
Land market value
$766,300
Improvement market value
$296,800
Total market value
$1,063,100
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2011
Heating
CENTRAL
Cooling
YES
Stories
1
Units
2
Rooms
6
Bathrooms
1
Total area
6,762 SF
Lot
0.64 ac (27,878 SF)
Zoning code
R-M
APN
16-29-280-025
UPID
US86-1450665
Jurisdiction
SALT LAKE
Zoning & alternative use
R-M · Salt Lake City, UT
Zoning R-M · permitted uses
R-M · 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 Current
Est. value
$890,000
RESTAURANT
Est. value
$865,000
COMMERCIAL (GENERAL)
Est. value
$735,000
MEDICAL BUILDING Current
RESTAURANT
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
2011
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
2
Rooms
6
Bathrooms
1
Lot
0.64 ac
Current owner
From public records · entity-resolved
Kblk Holdings LLC
Entity
Mailing address
1232 W PITCHFORK RD, SALT LAKE CITY, UT 84123-7670
Ownership since
2011
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
Jun 30, 2011
—
Kbik Holdings LLC
—
Trustees Deed
related
$760,000 · Bank Of America
Jun 28, 2011
—
Kblk Holdings LLC
Martinez,richard D & Terina L
Grant Deed
—
Feb 14, 2011
—
Salt Lake Cnty
Martinez,richard D & Terina L
Warranty Deed
—
Apr 20, 2010
—
Richard D Martinez
Martinez,richard D & Terina L
Quit Claim Deed
related
—
Jul 13, 2009
—
Richard D Martinez
Martinez,richard D & Terina L
Quit Claim Deed
related
—
Apr 11, 2005
—
Richard D Martinez
Wimmer Trust
Warranty Deed
$128,000 · Countrywide Bank
Aug 20, 2004
—
Wimmer Trust
Wimmer,arden C & Joan M
Quit Claim Deed
related
—
—
—
Richard D Martinez
—
Deed Of Trust
related
$157,500 · Countrywide 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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