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Property profile & analytics
OFF-MARKET
Estimated value
$5,725,000
Commercial real estate
375 Lagoon Dr Farmington, UT 84025-2554
Entity Owned
17-yr Hold
Free & Clear
Property ID
US86-0234162
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1980
Total area
31,830 SF
Lot
16.08 ac (700,401 SF)
Zoning code
C-R
APN
08-088-0056
UPID
US86-0234162
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
-
Turn of the Century Tour Operator
-
Carousel Tour Operator
-
Colossus: The Fire Dragon Roller Coaster Amusement Park Ride
-
OdySea Tour Operator
-
Scaliwags Tour Operator
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.07M
Comparable Approach
Comparable
$6.38M
Blend (final)
Blend
$5.73M
Owner & transaction history
Lagoon Investment Co Lc · 17 yrs held
Lagoon Investment Co Lc
since 2009
7 recorded transactions
Zoning & alternative use
C-R · Farmington, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
This zone covers any area developed as a privately owned commercial amusement park or fairground open generally to the public. Such parks and fairgrounds require a large area of property and are somewhat autonomous in that they provide a variety of amusement, athletic and recreational facilities, food preparation and consumption facilities for patrons and em…
Zone name
Commercial Recreation
General category
INDUSTRIAL
Zone area
149.62 ac
Source
Realmo
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 Farmington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Farmington 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
by Request
CAP Approach
CAP Return
Estimation
6%
$5,490,000
6.5%
$5,070,000
7%
$4,705,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$5,195,000
Current use
MEDICAL BUILDING
$5,190,000
Change: 0% · Conversion: Easy
OFFICE BUILDING
$4,290,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$5.73M
Range $5.15M – $6.30M · ±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
$180 / 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
$74,709
Tax year 2023
Assessed value
$4,246,152
Assessed 2023
Previous assessed
$4,246,152
+0.0% YoY
Effective rate
1.76%
On assessed value
Assessed land
$2,624,700
Assessed improvement
$1,621,452
Land market value
$4,772,183
Improvement market value
$2,948,095
Total market value
$7,720,278
Applied tax rate
23.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1980
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
31,830 SF
Lot
16.08 ac (700,401 SF)
Zoning code
C-R
APN
08-088-0056
UPID
US86-0234162
Jurisdiction
DAVIS
Zoning & alternative use
C-R · Farmington, UTZoning C-R · permitted uses
C-R · Farmington, UT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
This zone covers any area developed as a privately owned commercial amusement park or fairground open generally to the public. Such parks and fairgrounds require a large area of property and are somewhat autonomous in that they provide a variety of amusement, athletic and recreational facilities, food preparation and consumption facilities for patrons and employees, exhibition and display areas and buildings, living quarters for some employees, construction, maintenance and warehouse facilities, fire protection, and health and sanitation facilities.
Zone name
Commercial Recreation
General category
INDUSTRIAL
Zone area
149.62 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$5.2M
MEDICAL BUILDING
Est. value
$5.2M
OFFICE BUILDING
Est. value
$4.3M
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
OFFICE BUILDING
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
1980
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
16.08 ac
Current owner
From public records · entity-resolved
Lagoon Investment Co Lc
Entity
Free & Clear · 17 yrs held
Mailing address
375 N LAGOON DR, FARMINGTON, UT 84025-2554
Ownership since
2009
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
Mar 29, 2019
—
Lagoon Investament Co Lc
—
Grant Deed
related
$35,000,000 · Wells Fargo Equipment Fin
Jan 2, 2019
—
Lagoon Investment Co Lc
—
Loan Modification
related
$23,000,000 · Wells Fargo Bk
Aug 22, 2014
—
Lagoon Investment Co Lc
—
Grant Deed
related
$15,000,000 · Wells Fargo Equipment Fin
May 8, 2009
—
Lagoon Investment Co Lc
Lagoon Investment
Quit Claim Deed
—
Apr 23, 2009
—
Lagoon Investment Co Lc
—
Deed Of Trust
related
$20,000,000 · Wells Fargo Bank
Jan 14, 2009
—
Lagoon Investment Co Lc
—
Deed Of Trust
related
$17,200,000 · Wells Fargo Bank
Jun 28, 2000
—
Davkris Investments Lc
E & S Properties LLC
Quit Claim Deed
related
—
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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