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Property profile & analytics
OFF-MARKET
Estimated value
$2,295,000
Drug stores
531 400th S Salt Lake City, UT 84102-2702
Entity Owned
7-yr Hold
Free & Clear
Property ID
US86-0459168
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
14,503 SF
Lot
1.47 ac (64,033 SF)
Zoning code
TSA-UN
APN
16-06-427-039
UPID
US86-0459168
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
-
Walgreens Pharmacy
-
COVID-19 Drive-Thru Testing at Walgreens Pharmacy
-
LibertyX Bitcoin ATM Atm
-
Walgreens Pharmacy Pharmacy
-
Walgreens Photo (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.48M
Blend (final)
Blend
$2.30M
Owner & transaction history
531 E 400s LLC · 7 yrs held
531 E 400s LLC
since 2019
5 recorded transactions
Zoning & alternative use
TSA-UN · Salt Lake City, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.7M
+61.5%
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
$1,700,000
Current use
MEDICAL BUILDING
$2,745,000
Change: +61% · Conversion: Difficult
RESTAURANT
$1,675,000
Change: -1% · Conversion: Easy
Blend value · Realmo final
$2.30M
Range $2.07M – $2.52M · ±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
$158 / 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
$72,604
Tax year 2023
Assessed value
$7,344,100
Assessed 2023
Previous assessed
$7,344,100
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$2,577,300
Assessed improvement
$4,766,800
Land market value
$2,577,300
Improvement market value
$4,766,800
Total market value
$7,344,100
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
YES
Stories
1
Units
1
Total area
14,503 SF
Lot
1.47 ac (64,033 SF)
Zoning code
TSA-UN
APN
16-06-427-039
UPID
US86-0459168
Jurisdiction
SALT LAKE
Zoning & alternative use
TSA-UN · Salt Lake City, UTZoning 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
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$2.7M
RESTAURANT
Est. value
$1.7M
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
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Lot
1.47 ac
Current owner
From public records · entity-resolved
531 E 400s LLC
Entity
Free & Clear · 7 yrs held
Mailing address
PO BOX 1159, DEERFIELD, IL 60015-6002
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 28, 2019
—
531 E 400s LLC
—
Deed
related
$5,700,000 · Cibc Bank USA
Apr 30, 2019
—
531 E 400s LLC
Slc Wlg LLC
Grant Deed
—
Feb 2, 2018
—
Slc Wlg LLC
Spataru I LLC
Special Warranty Deed
$3,300,000 · Coastal Federal Cu
Aug 7, 2015
—
Spataru I LLC
Cole Wg Salt Lake City Ut
Grant Deed
$2,390,000 · Everbank
Aug 25, 2004
—
Stations West-downtown LLC
Stations West-downtown LLC
Quit Claim Deed
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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