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Property profile & analytics
OFF-MARKET
Estimated value
$4,220,000
Distribution centers
3505 California Ave Salt Lake City, UT 84104-4626
Entity Owned
5-yr Hold
Free & Clear
Property ID
US86-0193630
Property summary
AI-generated overview
This exceptional Class A industrial property, located at 3505 W California Ave in Salt Lake City, UT 84104, offers a total of 175,338 square feet of warehouse and distribution space within a single, one-story building situated on 7.46 acres of land. The property is zoned M-1 and features 43 dock-high doors and 5 drive-in doors, providing ample loading and unloading capabilities. Multiple tenancy options are available, with a minimum divisible space of 14,369 square feet and a maximum contiguous space of 43,688 square feet. Currently, 58,057 square feet is vacant and ready for immediate occupancy. The building boasts a 28-foot ceiling height, ideal for various industrial uses. Ample parking is provided with 701 total spaces. This strategically located property in the Northwest Quadrant offers easy access to major transportation routes, making it an ideal location for distribution and warehousing operations. The property's APN is 1517201012. Seven individual suites are available within the building. This is a rare opportunity to secure high-quality industrial space in a thriving Salt Lake City submarket.
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
175,338 SF
Lot
7.46 ac (324,958 SF)
Zoning code
M-1
APN
15-17-201-012
UPID
US86-0193630
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
-
Interwest Design Marketing & Advertising
-
Metropolitan Warehouse and delivery Warehouse & Storage
-
RXO Postal Service Courier Service
-
iGPS Logistics Freight Service Logistics Company
-
M & M Quality Solutions Warehouse & Storage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.22M
Owner & transaction history
B9 Malbec Slc II LLC · 5 yrs held
B9 Malbec Slc II LLC
since 2021
7 recorded transactions
Zoning & alternative use
M-1 · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$24 / 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
$262,186
Tax year 2024
Assessed value
$27,514,500
Assessed 2024
Previous assessed
$27,514,500
+0.0% YoY
Effective rate
0.95%
On assessed value
Assessed land
$4,863,200
Assessed improvement
$22,651,300
Land market value
$4,863,200
Improvement market value
$22,651,300
Total market value
$27,514,500
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Units
4
Total area
175,338 SF
Lot
7.46 ac (324,958 SF)
Zoning code
M-1
APN
15-17-201-012
UPID
US86-0193630
Jurisdiction
SALT LAKE
Zoning & alternative use
M-1 · Salt Lake City, UT
Zoning M-1 · permitted uses
M-1 · 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.
Building & site characteristics
From public records
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Units
4
Lot
7.46 ac
Current owner
From public records · entity-resolved
B9 Malbec Slc II LLC
Entity
Free & Clear · 5 yrs held
Mailing address
345 PO BOX 2980TH AVE, CHICAGO, IL 60690-2980
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 11, 2025
—
B9 Malbec Slc II LLC
—
Deed
related
$137,500,000 · Wells Fargo Bank NA
Jul 23, 2025
—
B9 Malbec Slc II LLC
—
Deed
related
$180,000,000 · Wells Fargo Bank NA
Apr 23, 2021
—
B9 Malbec Slc II LLC
—
Deed
related
$845,000 · Wells Fargo Bank NA
Mar 18, 2021
—
B9 Malbec Slc II LLC
Majestic Slc Partners II LLC
Special Warranty Deed
—
Mar 3, 2020
—
Majestic-slc Partners II LLC
—
Deed
related
$8,000,000 · Northwestern Mutual Life Ins C
Apr 28, 2010
—
Majestic-slc Partners II LLC
—
Deed Of Trust
related
$7,106,000 · Northwestern Mutual Life Ins
Dec 13, 2005
—
Nm Majestic Holdings LLC
Northwestern Mutual Life Ins C
Warranty Deed
—
—
—
Majestic-slc Partners II LLC
—
Loan Modification
related
$8,000,000 · Northwestern Mutual Life Ins C
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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