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FOR LEASE
Community centers
655 E 400 S, Salt Lake City, UT 84102
Entity Owned
2-yr Hold
Free & Clear
Property ID
US86-0323212
For Lease
1 / 2
$1,735,000
655 E 400 S, Salt Lake City, UT 84102
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Property summary
AI-generated overview
This exceptional retail opportunity is located at 655 E 400 S, Salt Lake City, UT 84102, at the Northwest corner of 400 South and 700 East. The property, known as 4th South Marketplace, offers a total of 70,130 square feet of commercial retail space within a single building. Currently, there are multiple suites available, ranging in size from 1,500 square feet to the total vacant space of 10,196 square feet. This presents a unique chance for businesses seeking flexible space options in a high-traffic area. The property is zoned TSA-UN-C within Salt Lake County. The address is easily accessible and benefits from excellent visibility due to its prominent corner location. This makes it an ideal location for a variety of retail businesses seeking high foot traffic and exposure. The building's substantial size and the availability of multiple suites allow for diverse tenant configurations, catering to both large and small businesses. Interested parties should inquire for lease rates and further details. This is a rare opportunity to secure prime retail space in a thriving Salt Lake City location.
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
29,688 SF
Lot
3.48 ac (151,589 SF)
Zoning code
TSA-UN
APN
16-05-301-025
UPID
US86-0323212
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
-
US Marine Corps Officer Selection Team Military Recruiting Office
-
Massage Envy Alternative Medicine Practice Spa & Massage Center
-
Bekka Carlson - State Farm Insurance Agent Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.55M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.92M
Blend (final)
Blend
$1.74M
Owner & transaction history
Vincent Court LLC · 2 yrs held
Vincent Court LLC
since 2023
3 recorded transactions
Zoning & alternative use
TSA-UN · Salt Lake City, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.5M
+75.3%
Auto repair, garage
$2.4M
+66.0%
Warehouse, storage
$1.7M
+16.5%
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
$1,545,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,425,000
Current use
COMMERCIAL (GENERAL)
$2,500,000
Change: +75% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,365,000
Change: +66% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,660,000
Change: +17% · Conversion: Difficult
Blend value · Realmo final
$1.74M
Range $1.56M – $1.91M · ±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
$58 / 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
$209,167
Tax year 2023
Assessed value
$21,157,900
Assessed 2023
Previous assessed
$21,157,900
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$6,101,500
Assessed improvement
$15,056,400
Land market value
$6,101,500
Improvement market value
$15,056,400
Total market value
$21,157,900
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
Community centers
Use group
MINI-MALL
Status
For Lease
Year built
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
YES
Buildings
7
Stories
1
Units
1
Total area
29,688 SF
Lot
3.48 ac (151,589 SF)
Zoning code
TSA-UN
APN
16-05-301-025
UPID
US86-0323212
Jurisdiction
SALT LAKE
Zoning & alternative use
TSA-UN · Salt Lake City, UT
Zoning 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
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
$1.4M
COMMERCIAL (GENERAL)
Est. value
$2.5M
AUTO REPAIR, GARAGE
Est. value
$2.4M
WAREHOUSE, STORAGE
Est. value
$1.7M
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Buildings
7
Units
1
Lot
3.48 ac
Current owner
From public records · entity-resolved
Vincent Court LLC
Entity
Free & Clear · 2 yrs held
Mailing address
154 E MYRTLE AVE STE #303, MURRAY, UT 84107-4849
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 28, 2023
—
Vincent Court LLC
Salt Lake City Corporation
Quit Claim Deed
related
—
Sep 1, 2023
—
Williamsen South Jordan INC
Vincent Court LLC
Quit Claim Deed
related
—
—
—
Williamsen South Jordan INC
—
Deed Of Trust
related
$8,200,000 · Thomas & Gail Williamsen
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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