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Property profile & analytics
FOR SALE
Investment properties
623 Fort Union Blvd, Midvale, UT 84047
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US86-0874649
For Sale
1 / 9
$1,656,000
623 Fort Union Blvd, Midvale, UT 84047
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Property summary
AI-generated overview
This exceptional investment opportunity presents a 7,128 square foot executive office building located at 623 Fort Union Blvd, Midvale, UT 84047. The property boasts a strong net operating income (NOI) of $107,632.80, translating to a desirable 5.03% capitalization rate. Priced at $2,138,400, this translates to $300 per square foot. The building consists of multiple units, specifically six units with APNs: 22-30-232-024-0000, 22-30-232-025-0000, 22-30-232-026-0000, 22-30-232-027-0000, 22-30-232-019-0000, and 22-30-232-020-0000. Situated in the vibrant and rapidly growing community of Midvale, within Salt Lake County, this property offers a compelling investment prospect in a thriving business climate. The strong tenant in place contributes to the property's consistent income stream and makes it an attractive addition to any commercial real estate portfolio. This prime Midvale location ensures easy access and high visibility, making it an ideal investment for discerning buyers seeking a stable and profitable asset.
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
2006
Total area
19,258 SF
Lot
1.53 ac (66,647 SF)
Zoning code
MU
APN
22-30-232-028
UPID
US86-0874649
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
$385k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$732k
Blend (final)
Blend
$555k
Owner & transaction history
Kassel Kings LLC · 2 yrs held
Kassel Kings LLC
since 2024
7 recorded transactions
Zoning & alternative use
MU · Midvale, 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 Midvale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Midvale 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
$385,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$555k
Range $500k – $611k · ±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
$29 / 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
$1,500
Assessed 2023
Previous assessed
$1,500
+0.0% YoY
Assessed land
$500
Assessed improvement
$1,000
Land market value
$500
Improvement market value
$1,000
Total market value
$1,500
Applied tax rate
30.0000
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
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
For Sale
Year built
2006
Heating
NONE
Cooling
YES
Buildings
2
Stories
2
Units
16
Total area
19,258 SF
Lot
1.53 ac (66,647 SF)
Zoning code
MU
APN
22-30-232-028
UPID
US86-0874649
Jurisdiction
SALT LAKE
Zoning & alternative use
MU · Midvale, UT
Zoning MU · permitted uses
MU · Midvale, UT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Midvale. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2006
Heating
NONE
Cooling
Yes
Stories
2
Buildings
2
Units
16
Lot
1.53 ac
Current owner
From public records · entity-resolved
Kassel Kings LLC
Entity
Mailing address
PO BOX 711729, SALT LAKE CITY, UT 84171-1729
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 7, 2024
—
Kassel Kings LLC
Gleason Properties LLC
Special Warranty Deed
$272,000 · Umb Bank NA
Apr 29, 2022
—
Huntsman & Lofgran Holdings LLC
—
Deed
related
$460,000 · America First FCU
Jul 14, 2021
—
Huntsman & Lofgran Holdings LLC
Huntsman & Lofgran Holdings LLC
Deed
related
$384,700 · Wells Fargo Bank NA
Jun 6, 2018
—
Newton Ents Ltd
Dowd,james P
Warranty Deed
—
Jun 4, 2018
—
James P Dowd
Complex 613 LLC
Warranty Deed
—
May 8, 2018
—
Gleason Properties LLC
—
Deed
related
$194,000 · Mountain America FCU
Oct 31, 2016
—
Huntsman & Lofgran Holdings Ll
—
Deed
related
$270,000 · Utah Certified Dev
Oct 3, 2016
—
Huntsman & Lofgran Holdings LLC
Complex 613 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.
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