Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    405 W 500 N Salt Lake City, UT 84103
    Back to Search
    Property profile & analytics

    405 W 500 N, Salt Lake City, UT 84103

    View on Map
    • Warehouses
    • 13,000 SF
    • 0.86 lot acres
    For Lease
    $740,000
    View Listing →
    Salt Lake City Flex Space For Lease
    $740,000
    10,395 SF

    Salt Lake City Flex Space

    10395 SF flex space available for lease June 1, 2024.

    405 W 500 N, Salt Lake City, UT 84103
    View Listing
    Property ID
    US86-0465450
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $740,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Best Distributing Amusement Co / Big Box & Wholesale Store / Production Facility

    Property Details for 405 W 500 N

    Year built
    1977
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.86 lot acres
    Zone code
    TSAUCT
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    08-36-176-003
    APU
    836176003

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 8, 1998 — Kwik Properties LLC Six H Ltd Ptshp Grant Deed $950k · Dairy Vending Co

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $545,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $929,000
      Market price range: $532k - $1.15M

    • 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

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Salt Lake City
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.903
    Latitude
    40.7798
    CBSA code
    41620
    CBSA name
    SALT LAKE CITY, UT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $15,782
    $1,311,200
    $345,000
    $1,656,200
    -
    $1,311,200
    $345,000
    $1,656,200

    Comparable in this City

    • Value Estimation
      $2,205,000
      24,200 SF

      476 600th N

      MINI-WAREHOUSE, STORAGE
      476 600th N, Salt Lake City, UT 84103-1322
      View Details
    • Value Estimation by Request
      7,020 SF

      645 Pugsley St

      MINI-WAREHOUSE, STORAGE
      645 Pugsley St, Salt Lake City, UT 84103-1330
      View Details
    • Value Estimation
      $1,135,000
      12,516 SF

      356 Reed Ave

      MINI-WAREHOUSE, STORAGE
      356 Reed Ave, Salt Lake City, UT 84103-1433
      View Details
    • Value Estimation
      $855,000
      10,664 SF

      364 600th N

      WAREHOUSE, STORAGE
      364 600th N, Salt Lake City, UT 84103-1320
      View Details
    • Value Estimation by Request
      4,896 SF

      633 300th W

      WAREHOUSE, STORAGE
      633 300th W, Salt Lake City, UT 84103-1309
      View Details
    • Value Estimation by Request
      2,580 SF

      1162 Sandhurst Dr

      WAREHOUSE, STORAGE
      1162 Sandhurst Dr, Salt Lake City, UT 84103
      View Details

    Similar Nearby for Sale

    • $579,000

      Land For Sale

      Land available in Salt Lake City, Utah.
      1144 N Twickenham Dr, Salt Lake City, UT 84103
      View Details
    • $1,200,000
      3,750 SF

      Turnkey Fourplex in Prime Location

      Legal fourplex in the Avenues, Salt Lake City, with cash flow.
      116 N B St E, Salt Lake City, UT 84103
      View Details
    • Contact for pricing

      Multifamily Property With 27 Units

      27-unit multifamily property for sale.
      107 B St E, Salt Lake City, UT 84103
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale.
      4000 N Cedar Vly Hwy, Eagle Mountain, UT 84103
      View Details
    • $4,450,000
      13,077 SF

      Salt Lake City Multifamily Investment

      Turnkey 15-unit Salt Lake City investment property for sale.
      120 G St, Salt Lake City, UT 84103
      View Details
    • $1,550,000

      Four-Plex Near Utah Capitol

      Well-maintained four-plex with spacious units and recent upgrades.
      35 Hillside Ave, Salt Lake City, UT 84103
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Salt Lake City Flex Space

      10395 SF flex space available for lease June 1, 2024.
      405 W 500 N, Salt Lake City, UT 84103
      View Details
    • Contact for pricing
      23,701 SF

      Salt Lake City Office Space

      Office space available for lease in Salt Lake City.
      205 N 400 W, Salt Lake City, UT 84103
      View Details
    • Contact for pricing
      2,500 SF

      Office Space Near City Creek

      2,500 SF office space in central Salt Lake City.
      747 Temple E, Salt Lake City, UT 84103
      View Details
    • Contact for pricing

      Bright Office Space with Parking

      Contemporary office space with natural light and convenient freeway access.
      244 West Ave North, Salt Lake City, UT 84103
      View Details
    • Contact for pricing
      7,345 SF

      Retail Space in Salt Lake

      Retail property available for lease in Salt Lake City.
      402 6Th Ave, Salt Lake City, UT 84103
      View Details
    • Contact for pricing

      Restaurant Space with Grease Trap

      Retail space ideal for a small restaurant with apartments above.
      550 N 300 W, Salt Lake City, UT 84103
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    405 W 500 N
    Salt Lake City, UT 84103
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    405 W 500 N, Salt Lake City, UT, 84103
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!