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Property profile & analytics
FOR LEASE
Strip malls
325 Pierpont Ave, Salt Lake City, UT 84101
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US86-0256743
For Lease
1 / 6
$22 SF/Yr
325 Pierpont Ave, Salt Lake City, UT 84101
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Property summary
AI-generated overview
This two-story, 26,000 square foot building at 325 Pierpont Avenue in Salt Lake City, UT 84101 offers a unique blend of creative and traditional office space. The property features a total of 30 suites, with a minimum divisible space of 822 square feet and a maximum contiguous space of 6,120 square feet. Currently, 15,575 square feet are vacant and available for lease. Located in the heart of historic downtown Salt Lake City, this property benefits from its proximity to the Vivint Smart Home Arena and the Salt Palace Convention Center. The surrounding area boasts a vibrant mix of boutiques, brew pubs, cafes, and tech offices, creating a dynamic and desirable environment for businesses. The building offers patio seating, adding an attractive amenity for tenants. The lease structure is a triple net (NNN) lease with a base rent of $6.72 per square foot. Multiple tenancy options are available to accommodate various business needs. This is an exceptional opportunity to secure prime office space in a thriving urban location.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1910
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
19,500 SF
Lot
0.26 ac (11,326 SF)
Zoning code
D-3
APN
15-01-252-001
UPID
US86-0256743
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
-
Kodiak Cakes Take-out & Catering Grocery & Convenience Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$805k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$619k
Blend (final)
Blend
$710k
Owner & transaction history
Ap 325 331 W Pierpont Ave LLC · 5 yrs held
Ap 325 331 W Pierpont Ave LLC
since 2021
7 recorded transactions
Zoning & alternative use
D-3 · Salt Lake City, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$1.1M
+5.5%
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
$805,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$995,000
Current use
INDUSTRIAL (GENERAL)
$1,050,000
Change: +6% · Conversion: Difficult
Blend value · Realmo final
$710k
Range $639k – $781k · ±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
$36 / 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
$29,780
Tax year 2023
Assessed value
$3,179,880
Assessed 2023
Previous assessed
$3,179,880
+0.0% YoY
Effective rate
0.94%
On assessed value
Assessed land
$611,390
Assessed improvement
$2,568,490
Land market value
$611,390
Improvement market value
$2,568,490
Total market value
$3,179,880
Applied tax rate
1.0000
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
For Lease
Year built
1910
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
YES
Buildings
3
Stories
1
Units
1
Total area
19,500 SF
Lot
0.26 ac (11,326 SF)
Zoning code
D-3
APN
15-01-252-001
UPID
US86-0256743
Jurisdiction
SALT LAKE
Zoning & alternative use
D-3 · Salt Lake City, UT
Zoning D-3 · permitted uses
D-3 · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$995,000
INDUSTRIAL (GENERAL)
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER Current
INDUSTRIAL (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
1910
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Buildings
3
Units
1
Lot
0.26 ac
Current owner
From public records · entity-resolved
Ap 325 331 W Pierpont Ave LLC
Entity
Mailing address
1616 CAMDEN RD, CHARLOTTE, NC 28203-4925
Ownership since
2021
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
Jun 7, 2021
—
Ap 325 331 W Pierpont Ave LLC
Pierpont Tpii LLC
Special Warranty Deed
—
Dec 30, 2020
—
Pierpont Tpii LLC
—
Deed
related
$7,350,000 · University First FCU
Jan 31, 2017
—
Pierpont Tpii LLC
—
Grant Deed
related
$5,500,000 · Wells Fargo Bk
Jan 26, 2015
—
Pierpont Tpii LLC
Goldberg,allan
Grant Deed
$2,050,000 · Allan Goldberg
Feb 24, 1998
—
Lag Properties Lc
Goldberg,linda A
Grant Deed
related
—
—
—
Allan Goldberg
—
Deed Of Trust
related
$200,000 · Martin & Sheila Gelman
—
—
Allan Goldberg
—
Deed Of Trust
related
$213,900 · Troyco Lc
—
—
Allan Goldberg
—
Deed Of Trust
related
$387,000 · Troyco Lc
—
—
Allan Goldberg
—
Deed Of Trust
related
$300,000 · Martin & Sheila Gelman
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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