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Property profile & analytics
FOR LEASE
Warehouses
3260 W 500 S Salt Lake City, UT 84104
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US86-0297533
For Lease
1 / 6
$1,230,000
3260 W 500 S, Salt Lake City, UT 84104
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1998
Construction
STEEL FRAME
Total area
9,200 SF
Lot
12.59 ac (548,420 SF)
Zoning code
M-2
APN
15-05-429-011
UPID
US86-0297533
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
$1.14M
CAP Approach
CAP
$1.33M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.23M
Owner & transaction history
Dredge Management LLC · 1 yrs held
Dredge Management LLC
since 2025
5 recorded transactions
Zoning & alternative use
M-2 · Salt Lake City, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.4M
+258.5%
Medical building
$1.2M
+209.9%
Restaurant
$1.0M
+165.0%
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
$1,135,000
CAP Approach
CAP Return
Estimation
6%
$1,435,000
6.5%
$1,325,000
7%
$1,230,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,405,000
Change: +259% · Conversion: Difficult
MEDICAL BUILDING
$1,215,000
Change: +210% · Conversion: Difficult
RESTAURANT
$1,040,000
Change: +165% · Conversion: Difficult
RETAIL STORES
$1,010,000
Change: +158% · Conversion: Moderate
Blend value · Realmo final
$1.23M
Range $1.11M – $1.35M · ±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
$134 / 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
$66,558
Tax year 2024
Assessed value
$6,984,800
Assessed 2024
Previous assessed
$6,984,800
+0.0% YoY
Effective rate
0.95%
On assessed value
Assessed land
$6,981,200
Assessed improvement
$3,600
Land market value
$6,981,200
Improvement market value
$3,600
Total market value
$6,984,800
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
For Lease
Year built
1998
Construction
STEEL FRAME
Heating
NONE
Cooling
YES
Buildings
3
Stories
1
Units
1
Total area
9,200 SF
Lot
12.59 ac (548,420 SF)
Zoning code
M-2
APN
15-05-429-011
UPID
US86-0297533
Jurisdiction
SALT LAKE
Zoning & alternative use
M-2 · Salt Lake City, UT
Zoning M-2 · permitted uses
M-2 · 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
COMMERCIAL (GENERAL)
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.2M
RESTAURANT
Est. value
$1.0M
RETAIL STORES
Est. value
$1.0M
COMMERCIAL (GENERAL)
MEDICAL BUILDING
RESTAURANT
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
1998
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Buildings
3
Units
1
Lot
12.59 ac
Current owner
From public records · entity-resolved
Dredge Management LLC
Entity
Mailing address
200 W CIVIC CTR DR, SANDY, UT 84070-4207
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 16, 2025
—
Dredge Management LLC
Western Metals Recycling LLC
Special Warranty Deed
$4,500,000 · Mountain America FCU
May 19, 2014
—
Western Metals Recycling LLC
Sims Group USA Corp
Grant Deed
—
Jan 31, 2006
—
Metal Management West INC
Metal Management West INC
Quit Claim Deed
related
—
Jul 9, 1996
—
Norita Associates Lc
Salt Lake City
Grant Deed
$490,000 · Zions First National Bank
—
—
Metal Management West INC
—
Deed Of Trust
related
$150,000 · Bankers Trust Co
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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