Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    409 400th S Salt Lake City, UT 84101-1135

    • Medical offices
    • 23,368 SF
    • 1.76 lot acres
    OFF-MARKET
    Value Estimations
    $3,060,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US86-0408335
    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.

    Current Use by Public Records

    • Michele Goldberg / Family Practice Physician / Practitioner Service Location
    • Emily Cook / Family Practice Physician
    • Joel Wecker / Family Practice Physician
    • Dr. Ann Schmitt / Family Practice Physician
    • Dr. Robert Rolfs / Internist

    Property Details for 409 400th S

    Year built
    1933
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.76 lot acres
    Property size
    23,368 SF
    Zone code
    CG
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    15-01-329-017
    APU
    1501329017

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,098,000
      Market price range: $1.21M - $4.71M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $3,085,000
      Current use
      RETAIL STORES
      $2,630,000
      Change: -15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Salt Lake City
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.903
    Latitude
    40.76
    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
    2023
    $21,554
    $1,621,200
    $3,017,600
    $4,638,800
    -
    $1,621,200
    $3,017,600
    $4,638,800

    Comparable in this City

    • Value Estimation
      $1,235,000
      22,395 SF

      268 400th S

      MEDICAL BUILDING • 22,395 SF
      268 400th S, Salt Lake City, UT 84101-1823
      View Details
    • Value Estimation
      $650,000
      17,587 SF

      437 200th S

      HOMES (RETIRED, NURSING) • 17,587 SF
      437 200th S, Salt Lake City, UT 84101-1114
      View Details
    • Value Estimation by Request
      11,196 SF

      235 Rio Grande St

      HOMES (RETIRED, NURSING) • 11,196 SF
      235 Rio Grande St, Salt Lake City, UT 84101-1105
      View Details
    • Value Estimation
      $3,240,000
      167,523 SF

      19 Rio Grande St

      HOMES (RETIRED, NURSING) • 167,523 SF
      19 Rio Grande St, Salt Lake City, UT 84101-1260
      View Details
    • Value Estimation by Request
      36,000 SF

      400 500

      Office space • 36,000 SF
      400 500, Salt Lake City, UT 84101
      View Details
    • Value Estimation by Request
      66,491 SF

      175 Temple

      Office Properties & Spaces • 66,491 SF
      175 Temple, Salt Lake City, UT 84101
      View Details

    Similar Nearby for Sale

    • $2,300,000
      6,765 SF

      Standalone Office Near Downtown

      Furnished office building near downtown Salt Lake City and University.
      34 S 600 E, Salt Lake City, UT 84101
      View Details
    • Contact for pricing
      7,000 SF

      Downtown Office with Exposed Brick

      Unique office space near Salt Palace Convention Center and City Creek.
      59 West Ct South, Salt Lake City, UT 84101
      View Details
    • $3,400,000
      10,328 SF

      Love Communications Building

      Spacious Owner-User Opportunity in Downtown Salt Lake City Utah
      546 200, Salt Lake City, UT 84101
      View Details
    • $4,500,000
      4,950 SF

      Downtown SLC Warehouse - $4.5M

      Prime Salt Lake City warehouse, excellent development potential.
      270 600, Salt Lake City, UT 84101
      View Details
    • $1,600,000
      3,472 SF

      Salt Lake City Service Garage

      Freestanding service garage with six bays and fenced yard.
      662 South West Ct West, Salt Lake City, UT 84101
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      26,000 SF

      Downtown SLC Creative Office Space

      Historic SLC location, 15,575 SF available.
      325 Pierpont Ave, Salt Lake City, UT 84101
      View Details
    • $22 SF/Yr
      13,847 SF

      Salt Lake City Executive Suites

      Prestigious Office Space, Flexible Terms
      222 Main St, Salt Lake City, UT 84101
      View Details
    • $12 SF/Yr
      13,001 SF

      Carpenter Building: Creative Office Suites

      Downtown SLC Creative Office Space Available
      331 Rio Grande St, Salt Lake City, UT 84101
      View Details
    • $23 SF/Yr
      4,787 SF

      Downtown Office Space Available

      Office space in great CBD location near TRAX station.
      47 W 200 S, Salt Lake City, UT 84101
      View Details
    • $25 SF/Yr
      500 SF

      Move-In Ready Retail/Office Space

      500 RSF retail/office space with high visibility and parking.
      435 S 400 E, Salt Lake City, UT 84101
      View Details
    • $24 SF/Yr
      25,200 SF

      Historic Salt Lake City Office Building

      Entire 25,200 SF Building Available
      276 100, Salt Lake City, UT 84101
      View Details
    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.
    409 400th S
    Salt Lake City, UT 84101-1135
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.