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Property profile & analytics
OFF-MARKET
Estimated value
$15,910,000
Retail space
409 400th S Salt Lake City, UT 84111-3001
Trust Owned
7-yr Hold
Free & Clear
Property ID
US86-0771806
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2019
Total area
128,804 SF
Lot
0.57 ac (24,829 SF)
Zoning code
TSA-UN
APN
16-06-402-021
UPID
US86-0771806
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
-
Michele Goldberg Pediatrician Physician
-
Emily Cook Pediatrician Physician
-
Joel Wecker Pediatrician Physician
-
Dr. Ann Schmitt Pediatrician Physician
-
Dr. Robert Rolfs Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$16.45M
Blend (final)
Blend
$15.91M
Owner & transaction history
Miller,marian K Fam L & Trust · 7 yrs held
Miller,marian K Fam L & Trust
since 2018
6 recorded transactions
Zoning & alternative use
TSA-UN · Salt Lake City, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$17.0M
+60.9%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$10,560,000
Current use
MEDICAL BUILDING
$16,995,000
Change: +61% · Conversion: Difficult
RESTAURANT
$10,160,000
Change: -4% · Conversion: Easy
Blend value · Realmo final
$15.91M
Range $14.32M – $17.50M · ±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
$124 / 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
$227,079
Tax year 2023
Assessed value
$41,161,980
Assessed 2023
Previous assessed
$41,161,980
+0.0% YoY
Effective rate
0.55%
On assessed value
Assessed land
$1,542,690
Assessed improvement
$39,619,290
Land market value
$1,542,690
Improvement market value
$39,619,290
Total market value
$41,161,980
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2019
Heating
NONE
Cooling
YES
Buildings
8
Stories
1
Units
35
Total area
128,804 SF
Lot
0.57 ac (24,829 SF)
Zoning code
TSA-UN
APN
16-06-402-021
UPID
US86-0771806
Jurisdiction
SALT LAKE
Zoning & alternative use
TSA-UN · Salt Lake City, UT
Zoning TSA-UN · permitted uses
TSA-UN · 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
RETAIL STORES Current
Est. value
$10.6M
MEDICAL BUILDING
Est. value
$17.0M
RESTAURANT
Est. value
$10.2M
RETAIL STORES Current
MEDICAL BUILDING
RESTAURANT
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
2019
Heating
NONE
Cooling
Yes
Stories
1
Buildings
8
Units
35
Lot
0.57 ac
Current owner
From public records · entity-resolved
Miller,marian K Fam L & Trust
Trust
Free & Clear · 7 yrs held
Mailing address
1338 S FOOTHILL DR, SALT LAKE CITY, UT 84108-2321
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
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
Jan 25, 2019
—
Wadsworth 4th & 4th LLC
—
Trustees Deed
related
$16,750,000 · Zions First Nat'l Bk
Sep 26, 2018
—
Miller,marian K Fam L & Trust
Miller Marian K Fam L/tr
Correction Deed
related
—
Jun 29, 2018
—
Miller,marian Family Lvng Trust
Miller Marian K Family Lv
Quit Claim Deed
related
—
Jun 5, 2018
—
Petty Investment Co
Arlene Waldron
Quit Claim Deed
related
—
Jun 4, 2018
—
Petty Investment Co
Charles Shipp
Quit Claim Deed
related
—
Jul 5, 2017
—
Robert K Friedman
Marian K Miller
Affidavit Of Death
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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