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Property profile & analytics
OFF-MARKET
Estimated value
$18,340,000
Medical Office Space
714 Arapeen Dr Salt Lake City, UT 84108
Individually Owned
Free & Clear
Property ID
US86-1304775
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1983
Total area
87,511 SF
Lot
52.19 ac (2,273,396 SF)
Zoning code
RP
APN
16-10-126-005-2000
UPID
US86-1304775
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
by Request
CAP Approach
CAP
$19.04M
Comparable Approach
Comparable
$17.65M
Blend (final)
Blend
$18.34M
Owner & transaction history
UNIVERSITY UTAH
UNIVERSITY UTAH
Zoning & alternative use
RP · Salt Lake City, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$24.1M
+109.1%
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%
$20,620,000
6.5%
$19,035,000
7%
$17,675,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$11,545,000
Current use
APARTMENT HOUSE (5+ UNITS)
$24,145,000
Change: +109% · Conversion: Moderate
Blend value · Realmo final
$18.34M
Range $16.51M – $20.17M · ±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
$210 / 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
$89,268,100
Assessed 2023
Previous assessed
$78,423,700
+13.8% YoY
Assessed land
$33,418,900
Assessed improvement
$55,849,200
Land market value
$33,418,900
Improvement market value
$55,849,200
Total market value
$89,268,100
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
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1983
Heating
NONE
Cooling
YES
Buildings
6
Stories
1
Units
1
Total area
87,511 SF
Lot
52.19 ac (2,273,396 SF)
Zoning code
RP
APN
16-10-126-005-2000
UPID
US86-1304775
Jurisdiction
SALT LAKE
Zoning & alternative use
RP · Salt Lake City, UT
Zoning RP · permitted uses
RP · 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
MEDICAL BUILDING Current
Est. value
$11.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$24.1M
MEDICAL BUILDING Current
APARTMENT HOUSE (5+ UNITS)
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
1983
Heating
NONE
Cooling
Yes
Stories
1
Buildings
6
Units
1
Lot
52.19 ac
Current owner
From public records · entity-resolved
UNIVERSITY UTAH
Individual
Free & Clear · 0 yrs held
Mailing address
505 S WAKARA WAY, SALT LAKE CITY, UT 84108-1246
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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