Four-Unit Mixed-Use
For Sale
$1,200,000
116 B St, Salt Lake City, UT 84103
MultiFamily, Salt Lake City, UT
Property Size3,750 SF
Lot Size0.17 Acres
Price / SF$320
Days on Market134
Property Features for 116 B St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential, Multi-Family, Mixed Zoning, Business
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 3, Bedroom 3, Bedroom 2, Bedroom 6, Bedroom 5, Bathroom 2, Bathroom 6, Bathroom 1, Bedroom 4, Bathroom 4, Bedroom 1, Bathroom 5
Subdivision
Outside Area
Standard status
Active
APN
09-31-451-005
Size
3,750 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
5590
Utilities
Heating system
Electric (Heating)
Cooling system
Central Air
Building Details
Year built
1891
Floors in Building
2
Number of units
4
Roof type
Asphalt
Listing Agency:
EXP REALTY LLC (So Utah)
(801) 499-6087
Listed By:
Tobin Prince
(801) 300-1087
Added: Apr 10
Changed: Aug 20
Last Checked: Aug 21 at 4:06AM
MLS# 26-271212
Copyright © 2026 Washington County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This four-unit property at 116 B St includes 3,750 square feet on a 0.17-acre lot. The building dates to 1891 and has central air, electric heating, and an asphalt roof. Property records identify six bedrooms and six bathrooms. Updates have been completed over time, and off-street parking is provided.
The property is zoned Retail/Residential (Mixed-Use), adding flexibility to its existing multifamily configuration. It is located in Salt Lake City near downtown, LDS Hospital, the University of Utah, and public transit. All four units are currently occupied, with showings available by appointment and proper notice.
The property is zoned Retail/Residential (Mixed-Use), adding flexibility to its existing multifamily configuration. It is located in Salt Lake City near downtown, LDS Hospital, the University of Utah, and public transit. All four units are currently occupied, with showings available by appointment and proper notice.
Key Highlights
- Four‑unit property with all units currently occupied
- 3,750 square feet on a 0.17‑acre lot
- Retail/Residential (Mixed‑Use) zoning
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
$50,009
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
4.17%
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%
$1,000,180
$1.0M
Cap Rate 7%
$714,414
$714.4K
Cap Rate 9%
$555,656
$555.7K
Market Conditions
NOI Build-Up for 3,750 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
$75.6K $20.16/SF
− Vacancy
−$4.2K −$1.11/SF
EGI
$71.4K $19.05/SF
− OpEx
−$21.4K −$5.72/SF
NOI
$50.0K $13.34/SF
Area
Salt Lake City, UT
Vacancy
5.50%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
30.00%
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%
$1,000,180
Cap Rate 7%
$714,414
Cap Rate 9%
$555,656
Alternative Uses
Best Use
Multifamily LT 5
$714.4K
$625.1K – $833.5K
NOI $50,009 @ 7.0% cap · market cap 4.17%
Second Best
Apartment 5plus
$663.7K
$580.7K – $774.3K
NOI $46,457 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$1.01M
$884.0K – $1.18M
NOI $70,721 @ 7.0% cap · market cap 5.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
5,365
Businesses Nearby
Explore this area
Business Placement
Demographics for 84103, UT
22,788
Population
13,528
Households
1.7
Avg Household Size
36
Median Age
66%
College-Educated
98%
High-School Grad
20.5 sq mi
ZIP Area
1,112
Density / Sq Mi
$81,386
Median Household Income
$54,787
Median Earnings
$1,374
Median Rent
$710,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Occupied units, off-street parking, and central access support an established multifamily operation.
Where is this quadplex located?
The property is located at 116 B St Salt Lake City, UT.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Four‑unit property with all units currently occupied; 3,750 square feet on a 0.17‑acre lot; Retail/Residential (Mixed‑Use) zoning
