Back to Search
Property profile & analytics
FOR LEASE
Parking lots & garages
405 South Main St Salt Lake City, UT 84111
Entity Owned
22-yr Hold
~
Est. High Equity
Property ID
US86-0059803
For Lease
1 / 16
$25.50 SF/Yr
405 South Main St, Salt Lake City, UT 84111
View Listing →
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
1955
Construction
STEEL FRAME
Total area
163,152 SF
Lot
1.89 ac (82,328 SF)
Zoning code
D1
APN
16-06-306-001
UPID
US86-0059803
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
-
Lincoln Law Law Firm Financial Advisor
-
goebel anderson Law Firm Insurance Agency
-
Berrett & Associates, LC Law Firm
-
Gregory C Zaugg Attorney Law Firm
-
The McCullough Group Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.69M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.89M
Blend (final)
Blend
$2.29M
Owner & transaction history
Wasatch Plaza Holdings II LLC · 22 yrs held
Wasatch Plaza Holdings II LLC
since 2004
6 recorded transactions
Zoning & alternative use
D1 · 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
Method
Estimation
Statistic approach
by Request
ML approach
$1,685,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
PARKING LOT
$1,965,000
Current use
Blend value · Realmo final
$2.29M
Range $2.06M – $2.52M · ±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
$14 / 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
$308,139
Tax year 2023
Assessed value
$31,169,200
Assessed 2023
Previous assessed
$31,169,200
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$6,550,200
Assessed improvement
$24,619,000
Land market value
$6,550,200
Improvement market value
$24,619,000
Total market value
$31,169,200
Applied tax rate
1.0000
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
For Lease
Year built
1955
Construction
STEEL FRAME
Heating
NONE
Cooling
NONE
Buildings
6
Stories
6
Units
570
Total area
163,152 SF
Lot
1.89 ac (82,328 SF)
Zoning code
D1
APN
16-06-306-001
UPID
US86-0059803
Jurisdiction
SALT LAKE
Zoning & alternative use
D1 · Salt Lake City, UTZoning D1 · permitted uses
D1 · Salt Lake City, UT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
PARKING LOT Current
Est. value
$2.0M
PARKING LOT Current
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
1955
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
6
Buildings
6
Units
570
Lot
1.89 ac
Current owner
From public records · entity-resolved
Wasatch Plaza Holdings II LLC
Entity
Mailing address
595 S 80TH E STE #400, LOGAN, UT 84321-6845
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 6, 2019
—
Wasatch Plaza Holdings II LLC
—
Deed
related
$18,000,000 · Keybank USA
Jul 25, 2017
—
Wasatch Plaza Holdings II LLC
—
Deed
related
$16,000,000 · Washington Federal NA
Mar 21, 2011
—
Wasatch Plaza Holdings II LLC
—
Deed Of Trust
related
$12,450,000 · Bank Of America
Jul 27, 2004
—
Wasatch Plaza Holdings II LLC
Wasatch Plaza Holdings II LLC
Quit Claim Deed
related
$13,000,000 · Bank Of America
Jun 5, 2002
—
Wasatch Plaza Holdings II LLC
Wells Fargo Bank Northwest NA
Grant Deed
related
$3,900,000 · Wells Fargo Bank
—
—
Wasatch Plaza Holdings II LLC
—
Deed Of Trust
related
$18,000,000 · Keybank USA
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?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
