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Property profile & analytics
FOR LEASE
Warehouses
405 W 500 N Salt Lake City, UT 84103
Entity Owned
28-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US86-0465450
For Lease
1 / 8
$740,000
405 W 500 N, Salt Lake City, UT 84103
View Listing →
Property summary
AI-generated overview
This 12,350-square-foot industrial property, located in downtown Salt Lake City, offers a versatile space ideal for manufacturing, flex, warehouse, distribution, or R&D operations. The single-tenant building boasts 10,395 square feet currently available for lease, comprising approximately 2,610 square feet of office space and 7,785 square feet of warehouse space. The lease rate is $1.25 per square foot, NNN, with availability starting June 1, 2024. Key features include a private fenced yard, enhancing security and providing ample outdoor space. The building features two 12' x 14' grade-level doors, capable of drive-through access, and a generous 20' clear height ceiling. The property benefits from 3-phase heavy power, fire suppression systems, and a masonry construction. Recent upgrades include a new roof (2022) and new LED lighting throughout the warehouse. Built in 1977, this Class C building offers convenient access to I-15 and Legacy Highway, ensuring efficient transportation and logistics. The property is a single-story structure.
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1977
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
13,000 SF
Lot
0.86 ac (37,462 SF)
Zoning code
TSAUCT
APN
08-36-176-003
UPID
US86-0465450
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
-
Best Distributing Amusement Co Big Box & Wholesale Store Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$545k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$930k
Blend (final)
Blend
$740k
Owner & transaction history
Kwik Properties LLC · 28 yrs held
Kwik Properties LLC
since 1998
1 recorded transaction
Zoning & alternative use
TSAUCT · Salt Lake City, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.2M
+36.9%
Commercial (general)
$1.2M
+34.8%
Auto repair, garage
$1.0M
+17.7%
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
$545,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$880,000
Current use
RETAIL STORES
$1,205,000
Change: +37% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,185,000
Change: +35% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,035,000
Change: +18% · Conversion: Easy
INDUSTRIAL (GENERAL)
$740,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$740k
Range $666k – $814k · ±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
$57 / 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
$15,782
Tax year 2024
Assessed value
$1,656,200
Assessed 2024
Previous assessed
$1,656,200
+0.0% YoY
Effective rate
0.95%
On assessed value
Assessed land
$1,311,200
Assessed improvement
$345,000
Land market value
$1,311,200
Improvement market value
$345,000
Total market value
$1,656,200
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
1977
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Buildings
2
Stories
1
Units
1
Total area
13,000 SF
Lot
0.86 ac (37,462 SF)
Zoning code
TSAUCT
APN
08-36-176-003
UPID
US86-0465450
Jurisdiction
SALT LAKE
Zoning & alternative use
TSAUCT · Salt Lake City, UT
Zoning TSAUCT · permitted uses
TSAUCT · 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
$880,000
RETAIL STORES
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.0M
INDUSTRIAL (GENERAL)
Est. value
$740,000
WAREHOUSE, STORAGE Current
RETAIL STORES
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
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
1977
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Buildings
2
Units
1
Lot
0.86 ac
Current owner
From public records · entity-resolved
Kwik Properties LLC
Entity
Mailing address
445 W 500TH N, SALT LAKE CITY, UT 84103-1243
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
1998
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 8, 1998
—
Kwik Properties LLC
Six H Ltd Ptshp
Grant Deed
$950,000 · Dairy Vending 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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