New search
Property profile & analytics
OFF-MARKET
Estimated value
$2,995,000
Banks
505 Wakara Way, Salt Lake City, UT 84108-1246
Individually Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US86-0309538
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
2013
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
78,031 SF
Lot
0.01 ac (436 SF)
Zoning code
RP
APN
16-03-300-002-2013
UPID
US86-0309538
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
-
TIAA Financial Services Financial Advisor
-
David Pinnock - TIAA Wealth Management Advisor Financial Advisor
-
Tracy Kennard - TIAA Wealth Management Advisor Financial Advisor
-
Christopher Tolman - TIAA Wealth Management Advisor Financial Advisor
-
U of U Real Estate Administration School Administration Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.00M
Owner & transaction history
Wakara Lc · 8 yrs held
Wakara Lc
since 2018
4 recorded transactions
Zoning & alternative use
RP · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$38 / 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
$143,319
Tax year 2023
Assessed value
$14,497,200
Assessed 2023
Previous assessed
$14,497,200
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed improvement
$14,497,200
Improvement market value
$14,497,200
Total market value
$14,497,200
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
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
2013
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
YES
Buildings
3
Stories
1
Units
3
Total area
78,031 SF
Lot
0.01 ac (436 SF)
Zoning code
RP
APN
16-03-300-002-2013
UPID
US86-0309538
Jurisdiction
SALT LAKE
Zoning & alternative use
RP · Salt Lake City, UT
Zoning RP · permitted uses
RP · 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.
Building & site characteristics
From public records
Year built
2013
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Buildings
3
Units
3
Lot
0.01 ac
Current owner
From public records · entity-resolved
Wakara Lc
Individual
Mailing address
2733 E PARLEYS WAY STE #300, SALT LAKE CITY, UT 84109-1661
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 31, 2018
—
Wakara Lc
—
Grant Deed
related
$10,700,000 · Miscellaneous Ins Co
Oct 28, 2016
—
Wakara Lc
—
Deed
related
$10,168,000 · Wells Fargo Bk
Jun 15, 2012
—
Wakara Lc
—
Grant Deed
related
$12,000,000 · Wfb NA
—
—
Wakara Lc
—
Loan Modification
related
$10,168,000 · Wells Fargo Bk
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?”
You own 505 Wakara Way?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
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.
