Built-Out Medical Office
For Sale
$1,300,000
10654 S River Heights Drive Unit 130, South Jordan, UT 84095
Turnkey medical office with existing improvements, ready for immediate occupancy near medical and dental neighbors.
Property Size3,555 SF
Days on Market93
Property Features for 10654 S River Heights Drive Unit 130
General Information
Standard status
Active
Size
3,555 SF
Class
B
Property subtype
Office - Medical Office
Building Details
Building Size
3,555 SF
Listing Agency:
Spark Realty
Listed By:
Matt Hartman
Source:
Commercialcafe
Added: Jun 4
Changed: Sep 3
Last Checked: Sep 4 at 2:29AM
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 Spark Realty
Investment Insights
Based on property information with market context.
This fully built-out medical office suite is offered for sale or lease and is described as being in great condition and ready for immediate occupancy. The unit is smartly designed to support medical use, with the interior improvements already in place, reducing the need for initial buildout for qualified users.
Located in South Jordan, the suite benefits from being within a building that includes medical and dental neighbors. That tenant mix can be especially relevant for practices looking to operate in a medical-oriented environment.
For buyers or operators, the primary advantage here is operational readiness. With a completed medical office layout and an emphasis on immediate occupancy, the space is well suited for medical and dental practices seeking a turnkey environment rather than starting from raw space. The listing may be a strong fit for groups evaluating either an owner-occupant scenario or an operating lease arrangement in a purpose-built medical setting.
Located in South Jordan, the suite benefits from being within a building that includes medical and dental neighbors. That tenant mix can be especially relevant for practices looking to operate in a medical-oriented environment.
For buyers or operators, the primary advantage here is operational readiness. With a completed medical office layout and an emphasis on immediate occupancy, the space is well suited for medical and dental practices seeking a turnkey environment rather than starting from raw space. The listing may be a strong fit for groups evaluating either an owner-occupant scenario or an operating lease arrangement in a purpose-built medical setting.
Key Highlights
- Medical office unit built in 2020
- Fully built out with existing improvements for a medical office
- Ready for immediate occupancy
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
$51,544
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
3.96%
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%
$1,030,880
$1.0M
Cap Rate 7%
$736,343
$736.3K
Cap Rate 9%
$572,711
$572.7K
Market Conditions
NOI Build-Up for 3,555 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
$76.4K $21.48/SF
− Vacancy
−$7.6K −$2.15/SF
EGI
$68.7K $19.33/SF
− OpEx
−$17.2K −$4.83/SF
NOI
$51.5K $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%
$1,030,880
Cap Rate 7%
$736,343
Cap Rate 9%
$572,711
Alternative Uses
Best Use
Office B
$736.3K
$644.3K – $859.1K
NOI $51,544 @ 7.0% cap · market cap 3.96%
Second Best
Healthcare Medical
$607.7K
$531.8K – $709.0K
NOI $42,541 @ 7.0% cap · market cap 3.27%
Theoretical Best
Multifamily LT 5
$47.34M
$41.42M – $55.23M
NOI $3,313,529 @ 7.0% cap · market cap 254.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
482
Businesses Nearby
Under-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- American Global Vet Clinic — 10266 Eden Crest Rd, South Jordan, UT 84095
Frequently Asked Questions
What type of property is this?
Medical Office Space - Turnkey medical office with existing improvements, ready for immediate occupancy near medical and dental neighbors.
Where is this medical office space located?
The property is located at 10654 S River Heights Drive Unit 130 South Jordan, UT.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Medical office unit built in 2020; Fully built out with existing improvements for a medical office; Ready for immediate occupancy
