New search
Property profile & analytics
OFF-MARKET
Estimated value
$585,000
Strip malls
588 Gale St, Salt Lake City, UT 84101-2507
Entity Owned
4-yr Hold
Free & Clear
Property ID
US86-0051975
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1957
Total area
11,439 SF
Lot
0.42 ac (18,295 SF)
Zoning code
CG
APN
15-01-378-031
UPID
US86-0051975
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$700k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$476k
Blend (final)
Blend
$585k
Owner & transaction history
Bb Billboard LLC · 4 yrs held
Bb Billboard LLC
since 2021
2 recorded transactions
Zoning & alternative use
CG · Salt Lake City, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$860,000
+47.3%
Auto repair, garage
$825,000
+41.3%
Commercial (general)
$820,000
+40.2%
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
$700,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$585,000
Current use
WAREHOUSE, STORAGE
$860,000
Change: +47% · Conversion: Difficult
AUTO REPAIR, GARAGE
$825,000
Change: +41% · Conversion: Difficult
COMMERCIAL (GENERAL)
$820,000
Change: +40% · Conversion: Easy
RESTAURANT
$770,000
Change: +31% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$615,000
Change: +6% · Conversion: Difficult
Blend value · Realmo final
$585k
Range $527k – $644k · ±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
$51 / 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
$36,168
Tax year 2023
Assessed value
$2,443,900
Assessed 2024
Previous assessed
$3,658,500
-33.2% YoY
Effective rate
1.48%
On assessed value
Assessed land
$1,469,000
Assessed improvement
$974,900
Land market value
$1,469,000
Improvement market value
$974,900
Total market value
$2,443,900
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1957
Cooling
YES
Stories
1
Units
3
Total area
11,439 SF
Lot
0.42 ac (18,295 SF)
Zoning code
CG
APN
15-01-378-031
UPID
US86-0051975
Jurisdiction
SALT LAKE
Zoning & alternative use
CG · Salt Lake City, UT
Zoning CG · permitted uses
CG · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$585,000
WAREHOUSE, STORAGE
Est. value
$860,000
AUTO REPAIR, GARAGE
Est. value
$825,000
COMMERCIAL (GENERAL)
Est. value
$820,000
RESTAURANT
Est. value
$770,000
INDUSTRIAL (GENERAL)
Est. value
$615,000
NEIGHBORHOOD: SHOPPING CENTER Current
WAREHOUSE, STORAGE
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RESTAURANT
INDUSTRIAL (GENERAL)
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
1957
Cooling
Yes
Stories
1
Units
3
Lot
0.42 ac
Current owner
From public records · entity-resolved
Bb Billboard LLC
Entity
Free & Clear · 4 yrs held
Mailing address
PO BOX 92129, SOUTHLAKE, TX 76092-0102
Ownership since
2021
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
Oct 21, 2022
—
Bb Billboard LLC
—
Deed
related
$5,550,000 · Washington Federal Bank
Jul 20, 2021
—
Bb Billboard LLC
Bridge Bloq Nac LLC
Special Warranty Deed
—
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 588 Gale St?
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.
