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Property profile & analytics
OFF-MARKET
Estimated value
$2,360,000
Office buildings
55 Hwy 89 North Salt Lake, UT 84054-2504
Trust Owned
29-yr Hold
~
Est. High Equity
Property ID
US86-0749935
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2014
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
12,808 SF
Lot
2.98 ac (129,591 SF)
Zoning code
CH
APN
01-104-0091
UPID
US86-0749935
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
-
Utah Local Governments Trust Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.56M
Comparable Approach
Comparable
$2.16M
Blend (final)
Blend
$2.36M
Owner & transaction history
Utah Local Governments Trust · 29 yrs held
Utah Local Governments Trust
since 1997
2 recorded transactions
Zoning & alternative use
CH · North Salt Lake, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the highway commercial C-H zoning district is to encourage a mixture of uses supporting all modes of transportation utilizing Highway 89, including, but not limited to, pedestrians, cyclists, public transit, and vehicular traffic
Zone name
Highway Commercial
General category
COMMERCIAL
Zone area
55.26 ac
Source
Realmo
Top alternative use upside
Retail stores
$3.7M
+121.1%
Commercial (general)
$2.8M
+64.0%
Medical building
$2.1M
+23.3%
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 North Salt Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Salt Lake 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%
$2,770,000
6.5%
$2,555,000
7%
$2,375,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,695,000
Current use
RETAIL STORES
$3,745,000
Change: +121% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,780,000
Change: +64% · Conversion: Easy
MEDICAL BUILDING
$2,090,000
Change: +23% · Conversion: Easy
RESTAURANT
$1,560,000
Change: -8% · Conversion: Moderate
Blend value · Realmo final
$2.36M
Range $2.12M – $2.60M · ±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
$184 / 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 2022Property tax & assessments
Tax year 2022
Assessed value
$1,878,065
Assessed 2023
Previous assessed
$3,414,665
-45.0% YoY
Assessed land
$618,565
Assessed improvement
$1,259,500
Land market value
$1,124,665
Improvement market value
$2,290,000
Total market value
$3,414,665
Applied tax rate
344.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2014
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
GRAVITY
Cooling
AC.PACKAGE
Stories
2
Units
1
Total area
12,808 SF
Lot
2.98 ac (129,591 SF)
Zoning code
CH
APN
01-104-0091
UPID
US86-0749935
Jurisdiction
DAVIS
Zoning & alternative use
CH · North Salt Lake, UTZoning CH · permitted uses
CH · North Salt Lake, UT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of the highway commercial C-H zoning district is to encourage a mixture of uses supporting all modes of transportation utilizing Highway 89, including, but not limited to, pedestrians, cyclists, public transit, and vehicular traffic
Zone name
Highway Commercial
General category
COMMERCIAL
Zone area
55.26 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.7M
RETAIL STORES
Est. value
$3.7M
COMMERCIAL (GENERAL)
Est. value
$2.8M
MEDICAL BUILDING
Est. value
$2.1M
RESTAURANT
Est. value
$1.6M
OFFICE BUILDING Current
RETAIL STORES
COMMERCIAL (GENERAL)
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
2014
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
GRAVITY
Cooling
Yes
Stories
2
Units
1
Lot
2.98 ac
Current owner
From public records · entity-resolved
Utah Local Governments Trust
Trust
Mailing address
55 S HWY 89, NORTH SALT LAKE, UT 84054-2504
Ownership since
1997
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
Jul 10, 1997
—
Utah Local Governments Trust
Bradshaw Trust
Quit Claim Deed
related
$212,500 · Seller
—
—
Utah Local Governments Trust
—
Deed Of Trust
related
$1,535,000 · Key Bank Trustee
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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