Upgraded Office Building Near
For Sale
Contact for pricing
10542 S Jordan Gateway, South Jordan, UT 84095
Renovated office building near I-15 and FrontRunner station.
Property Size48,914 SF
Price / SF$240
Days on Market151
Property Features for 10542 S Jordan Gateway
General Information
Standard status
Active
Size
48,914 SF
Class
A
Property subtype
Office
Occupancy
64%
Investment Type
Owner/User
Building Details
Buildings
1
Listing Agency:
Colliers - Salt Lake City, Utah
(801) 947-8300
Listed By:
Brandon Fugal · License #UT 5477023-SA00
Source:
Crexi
Added: Mar 18
Changed: Aug 8
Last Checked: Aug 13 at 5:20PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Colliers - Salt Lake City, Utah
Investment Insights
Based on property information with market context.
The property is a renovated office building located off I-15 in South Jordan, Utah. Originally constructed in 2000, it underwent a major renovation completed in 2024. The three-story, steel-framed building has a total of 48,914 square feet. It is strategically located just off the 10600 S exit off Interstate 15 and is within a three-minute walk to FrontRunner (Mass Transit High-Speed Commuter Rail). The remodel included a full update to the common area and building exterior. The landlord recently completed two new modern suites on a speculative basis to most effectively position to two vacancies, which could be occupied by an owner-user. The building currently has a diverse tenant roster, with staggered lease terms. The building is an attractive option for an owner-user or a strategic investor seeking long-term upside with Utah’s economy.
Key Highlights
- Dramatically upgraded office building (major renovation completed in 2024).
- Located off I‑15 with immediate access to 10600 S exit.
- Three‑minute walk to FrontRunner (Mass Transit High Speed Commuter Rail).
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$709,204
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.04%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$14,184,080
$14.2M
Cap Rate 7%
$10,131,486
$10.1M
Cap Rate 9%
$7,880,044
$7.9M
Market Conditions
NOI Build-Up for 48,914 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$1.05M $21.48/SF
− Vacancy
−$105.1K −$2.15/SF
EGI
$945.6K $19.33/SF
− OpEx
−$236.4K −$4.83/SF
NOI
$709.2K $14.50/SF
Area
Salt Lake County, UT
Vacancy
10.00%
Lease Rate
$21.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$14,184,080
Cap Rate 7%
$10,131,486
Cap Rate 9%
$7,880,044
Alternative Uses
Best Use
Office B
$10.13M
$8.87M – $11.82M
NOI $709,204 @ 7.0% cap · market cap 6.04%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$651.31M
$569.89M – $759.86M
NOI $45,591,555 @ 7.0% cap · market cap 388.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,463
Businesses Nearby
Explore this area
Business Placement
Demographics for 84095, UT
39,278
Population
13,518
Households
2.9
Avg Household Size
35
Median Age
46%
College-Educated
97%
High-School Grad
11.5 sq mi
ZIP Area
3,415
Density / Sq Mi
$123,082
Median Household Income
$57,833
Median Earnings
$1,794
Median Rent
$669,600
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Renovated office building near I-15 and FrontRunner station.
Where is this office building located?
The property is located at 10542 S Jordan Gateway South Jordan, UT.
What is the asking price?
The asking price for this property is $11,739,360.
What are key features of this property?
This property features: Dramatically upgraded office building (major renovation completed in 2024).; Located off I‑15 with immediate access to 10600 S exit.; Three‑minute walk to FrontRunner (Mass Transit High Speed Commuter Rail).
