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Property profile & analytics
OFF-MARKET
Estimated value
$520,000
Manufacturing properties
415 Neil Armstrong Rd Salt Lake City, UT 84116-2890
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US86-0288370
Property summary
AI-generated overview
This exceptional 15,553-square-foot warehouse, located at 415 North Neil Armstrong Road in Salt Lake City, Utah, presents a compelling investment opportunity. Priced at $3,343,895, this vacant property offers a substantial footprint on a 0.86-acre lot. Built in 1986, the warehouse boasts a 16-foot ceiling height, ideal for various industrial uses. The property features two dock-high doors (12' x 10'), and two grade-level doors (one 14' x 12', one 12' x 12'), providing ample access for loading and unloading. The warehouse includes 3,465 square feet of finished office space. The property is zoned M-1, offering flexibility for a range of industrial applications. Further enhancing its functionality, the warehouse is equipped with 480-volt power and a wet fire sprinkler system. A possible fenced yard area adds to the property's appeal. The roof is a rubber membrane. The property's APN is 07-36-251-024. This is a NNN lease type property. The price per square foot is $208.14. This is a quietly marketed property, so please do not disturb the tenant.
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1982
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
15,553 SF
Lot
0.86 ac (37,462 SF)
Zoning code
M-1
APN
07-36-251-024
UPID
US86-0288370
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
-
Mold Works USA Factory Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$645k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$399k
Blend (final)
Blend
$520k
Owner & transaction history
Aileron Properties LLC · 1 yrs held
Aileron Properties LLC
since 2025
2 recorded transactions
Zoning & alternative use
M-1 · Salt Lake City, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$745,000
+25.8%
Warehouse, storage
$680,000
+14.2%
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
$645,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$595,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$745,000
Change: +26% · Conversion: Difficult
WAREHOUSE, STORAGE
$680,000
Change: +14% · Conversion: Easy
Blend value · Realmo final
$520k
Range $468k – $572k · ±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
$33 / 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
$16,110
Tax year 2024
Assessed value
$1,690,600
Assessed 2024
Previous assessed
$1,690,600
+0.0% YoY
Effective rate
0.95%
On assessed value
Assessed land
$508,500
Assessed improvement
$1,182,100
Land market value
$508,500
Improvement market value
$1,182,100
Total market value
$1,690,600
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1982
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Total area
15,553 SF
Lot
0.86 ac (37,462 SF)
Zoning code
M-1
APN
07-36-251-024
UPID
US86-0288370
Jurisdiction
SALT LAKE
Zoning & alternative use
M-1 · Salt Lake City, UT
Zoning M-1 · permitted uses
M-1 · 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
INDUSTRIAL (GENERAL) Current
Est. value
$595,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$745,000
WAREHOUSE, STORAGE
Est. value
$680,000
INDUSTRIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
WAREHOUSE, STORAGE
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
1982
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Lot
0.86 ac
Current owner
From public records · entity-resolved
Aileron Properties LLC
Entity
Mailing address
415 N NEIL ARMSTRONG RD, SALT LAKE CITY, UT 84116-2890
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 21, 2025
—
Aileron Properties LLC
Pat W Kelemen
Special Warranty Deed
$1,084,000 · Mountain West Small Business Financ
Jun 16, 2006
—
Pat W Keleman
Quality Oil Co
Warranty Deed
$422,000 · Us Bank NA
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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