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Property profile & analytics
OFF-MARKET
Estimated value
$2,155,000
Individual retail properties
515 700th E Salt Lake City, UT 84102-2801
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US86-0289045
Property profile
Verified
Property type
Individual retail properties
Use group
GYM, HEALTH SPA
Year built
1977
Construction
CONCRETE
Total area
104,302 SF
Lot
2.13 ac (92,783 SF)
Zoning code
CS
APN
16-05-351-039
UPID
US86-0289045
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
-
Lundberg Kelly J PhD Physician Medical Clinic
-
Seven Club Nightclub Music Venue
-
Mullboon's Association / Organization Banquet Hall
-
Tuccis Cucina Italiana Restaurant
-
Line 8 Design (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.62M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.70M
Blend (final)
Blend
$2.16M
Owner & transaction history
Trolley Corners Center LLC · 20 yrs held
Trolley Corners Center LLC
since 2006
4 recorded transactions
Zoning & alternative use
CS · 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
Method
Estimation
Statistic approach
by Request
ML approach
$1,615,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
GYM, HEALTH SPA
$3,190,000
Current use
Blend value · Realmo final
$2.16M
Range $1.94M – $2.37M · ±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
$21 / 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
$142,588
Tax year 2023
Assessed value
$14,423,200
Assessed 2023
Previous assessed
$14,423,200
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$3,061,100
Assessed improvement
$11,362,100
Land market value
$3,061,100
Improvement market value
$11,362,100
Total market value
$14,423,200
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
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
Individual retail properties
Use group
GYM, HEALTH SPA
Status
Off-Market
Year built
1977
Construction
CONCRETE
Heating
YES
Cooling
YES
Buildings
6
Stories
1
Units
23
Total area
104,302 SF
Lot
2.13 ac (92,783 SF)
Zoning code
CS
APN
16-05-351-039
UPID
US86-0289045
Jurisdiction
SALT LAKE
Zoning & alternative use
CS · Salt Lake City, UTZoning CS · permitted uses
CS · Salt Lake City, UT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
GYM, HEALTH SPA Current
Est. value
$3.2M
GYM, HEALTH SPA Current
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
1977
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
1
Buildings
6
Units
23
Lot
2.13 ac
Current owner
From public records · entity-resolved
Trolley Corners Center LLC
Entity
Mailing address
4422 S CENTURY DR, SALT LAKE CITY, UT 84123-2513
Ownership since
2006
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
Jan 30, 2006
—
Trolley Corners Center LLC
Trolley Corners
Special Warranty Deed
$9,250,000 · Prudential Mortgage Capital Co LLC
Dec 27, 2004
—
Simmons Media Group LLC
—
Deed Of Trust
related
$40,000,000 · Goldman Sachs Specialty Lendin
Aug 18, 2004
—
Trolley Corners Ptshp
—
Trustees Deed
related
$2,200,000 · Bank Of American Fork
—
—
Corners Trolley
—
Deed Of Trust
related
$2,750,000 · Sun Life Assurance Co
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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