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Property profile & analytics
OFF-MARKET
Estimated value
$1,660,000
Warehouses
3969 500th W Salt Lake City, UT 84123-1359
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US86-0554878
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
44,590 SF
Lot
1.09 ac (47,480 SF)
Zoning code
M-1
APN
15-36-376-024
UPID
US86-0554878
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
-
Leak Tech Technology Production Facility Metal Fabrication Plant
-
Aspen Earth Manufacturing, Mold Tooling, CNC, Composite Injection Molding and Design Industrial Manufacturer Production Facility
-
Leak Tech Building Products Factory Production Facility
-
Adriana Parker Restaurant Theater & Performing Art Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.19M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.13M
Blend (final)
Blend
$1.66M
Owner & transaction history
Alder Development Co Ltd · 2 yrs held
Alder Development Co Ltd
since 2023
2 recorded transactions
Zoning & alternative use
M-1 · Salt Lake City, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$2.7M
+3.3%
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
$1,185,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,640,000
Current use
INDUSTRIAL (GENERAL)
$2,730,000
Change: +3% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$2,335,000
Change: -12% · Conversion: Moderate
Blend value · Realmo final
$1.66M
Range $1.49M – $1.83M · ±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
$37 / 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
$76,139
Tax year 2024
Assessed value
$6,520,400
Assessed 2024
Previous assessed
$6,520,400
+0.0% YoY
Effective rate
1.17%
On assessed value
Assessed land
$607,700
Assessed improvement
$5,912,700
Land market value
$607,700
Improvement market value
$5,912,700
Total market value
$6,520,400
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
Off-Market
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
YES
Stories
1
Total area
44,590 SF
Lot
1.09 ac (47,480 SF)
Zoning code
M-1
APN
15-36-376-024
UPID
US86-0554878
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.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$2.6M
INDUSTRIAL (GENERAL)
Est. value
$2.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.3M
WAREHOUSE, STORAGE Current
INDUSTRIAL (GENERAL)
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
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Lot
1.09 ac
Current owner
From public records · entity-resolved
Alder Development Co Ltd
Entity
Free & Clear · 2 yrs held
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 1, 2023
—
Alder Development Co Ltd
Woodenshoe Development LLC
Special Warranty Deed
—
Jul 14, 2023
—
Alder Development Co Ltd
Alder Development Co Ltd
Intrafamily Transfer
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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