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Property profile & analytics
FOR SALE
Warehouses
3685 S 500 W Salt Lake City, UT 84115
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US86-0284704
For Sale
1 / 6
$6,075,000
3685 S 500 W, Salt Lake City, UT 84115
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2019
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
8,540 SF
Lot
1.14 ac (49,658 SF)
Zoning code
M-2
APN
15-05-377-002
UPID
US86-0284704
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
-
Maxwell Equipment Company (Bike/Boat/Book/etc) Store Rental Equipment Company
-
Velocity Press Inc Marketing & Advertising Printing Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$600k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$552k
Blend (final)
Blend
$575k
Owner & transaction history
3685 S 500 W Sun LLC · 1 yrs held
3685 S 500 W Sun LLC
since 2025
7 recorded transactions
Zoning & alternative use
M-2 · Salt Lake City, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$935,000
+157.8%
Auto repair, garage
$620,000
+69.9%
Neighborhood: shopping center
$410,000
+12.7%
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
$600,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$365,000
Current use
RETAIL STORES
$935,000
Change: +158% · Conversion: Moderate
AUTO REPAIR, GARAGE
$620,000
Change: +70% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$410,000
Change: +13% · Conversion: Moderate
Blend value · Realmo final
$575k
Range $518k – $633k · ±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
$67 / 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
$22,629
Tax year 2024
Assessed value
$2,374,800
Assessed 2024
Previous assessed
$2,374,800
+0.0% YoY
Effective rate
0.95%
On assessed value
Assessed land
$899,100
Assessed improvement
$1,475,700
Land market value
$899,100
Improvement market value
$1,475,700
Total market value
$2,374,800
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
WAREHOUSE, STORAGE
Status
For Sale
Year built
2019
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Units
1
Total area
8,540 SF
Lot
1.14 ac (49,658 SF)
Zoning code
M-2
APN
15-05-377-002
UPID
US86-0284704
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
WAREHOUSE, STORAGE Current
Est. value
$365,000
RETAIL STORES
Est. value
$935,000
AUTO REPAIR, GARAGE
Est. value
$620,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$410,000
WAREHOUSE, STORAGE Current
RETAIL STORES
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
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
2019
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Units
1
Lot
1.14 ac
Current owner
From public records · entity-resolved
3685 S 500 W Sun LLC
Entity
Free & Clear · 1 yrs held
Mailing address
650 S DELONG ST, SALT LAKE CITY, UT 84104-3911
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 28, 2025
—
3685 S 500 W Sun LLC
3685 S 500 W Cal LLC
Deed
related
—
May 27, 2025
—
3685 S 500 W Cal LLC
Elkins Investment Company LLC
Special Warranty Deed
—
Nov 20, 2024
—
Elkins Investment Company LLC
—
Deed
related
$635,000 · Utah First FCU
Dec 26, 2019
—
Etkins Investment Company LLC
—
Deed
related
$49,000 · Utah First FCU
Nov 21, 2019
—
Mxii LLC
—
Deed
related
$920,000 · Bank Of America
Jul 31, 2017
—
Mxii LLC
Abalone Group Trust
Warranty Deed
—
—
—
Mxii LLC
—
Deed Of Trust
related
$920,000 · Bank Of America
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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