Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    7050 Union Park Ave Midvale, UT

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $22 SF/Yr

    Office space available for lease in Midvale, Utah.

    Type:OFFICE
    Property size:
    4,710 SF
    Lot size:
    3.72 Acres
    Added:
    Mar 12, 2025
    Days on Market:
    386
    Last Refresh:
    Mar 29 at 11:11 pm

    Property Features for 7050 Union Park Ave

    General Information

    Standard status
    Active
    Size
    4,710 SF
    Lot size
    3.72 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 7050 Union Park Ave Contact us

    We can help!

    Listing Contact
    David Nixon

    Listing agent David Nixon

    Listing office JLL | Salt Lake City

    Listing date Mar 12, 2025

    Source Moodyscre

    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 JLL | Salt Lake City

    Overview

    Union Park II Office Space

    Office space is available for lease at Union Park II, located at 7050 S Union Park Ave, Midvale, Utah 84047. The available space ranges from 3,817 to 9,033 square feet. Additional space is available from 2,072 to 14,345 square feet. The parking ratio is 4.00 per 1,000 square feet. The lease rate is $26.00 FS. Timing is immediate. The property features building signage and excellent visibility, move-in ready spec suites, covered and structured parking, and is highly walkable with access to Fort Union shops and restaurants. It also offers Class A finishes, stunning mountain views, a high-speed fiber optic network, internet connectivity, and a fitness center.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Midvale
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.858
    Latitude
    40.623

    Nearby Similar for Lease

    • $18/mo

      Creative Space with Exposed Brick

      Unique creative space with exposed brick in Midvale's vibrant district.
      7687 S Main St, Midvale, UT 84047
      View Details
    • Contact for pricing

      Midvale Flex Space Available

      Flex space with GL door, restroom, and office, centrally located.
      7638 State Street, Midvale, UT 84047
      View Details
    • Contact for pricing

      Retail Space in Midvale, UT

      Retail space available for lease in Midvale, Utah.
      807 E FORT Blvd, Midvale, UT 84047
      View Details
    • $22/mo

      Cottonwood Heights Office Space Available

      Office space in desirable Cottonwood Heights with freeway access.
      7351 S Union Park Ave, Midvale, UT
      View Details
    • $24/mo

      Functional Office Space in Midvale

      Main level office space with bullpen layout, sublease through 2029.
      1265 East Fort Union Boulevard, Midvale, UT 84047
      View Details
    • $1.05/mo

      Midvale Warehouse Space Available

      6,000 sq ft warehouse space for lease.
      8169 South State Street, Midvale, UT, 84047
      View Details
    • $25/mo

      Midvale Office Space For Lease

      Office space available with mountain views and covered parking.
      7730 S Union Park Ave, Midvale, UT
      View Details
    • Contact for pricing

      Creative Retail/Office Space Available

      Creative retail or office space in up-and-coming Midvale area.
      7624 S Main St, Midvale, UT 84047
      View Details
    • $21/mo

      Midvale Office and Warehouse Space

      15,213 SF Midvale space with office and warehouse components.
      6949 S High Tech Dr, Midvale, UT
      View Details
    • Contact for pricing

      Renovated Creative Office/Retail Space

      Renovated creative office/retail space in central Midvale location.
      7620 South Main St, Midvale, UT 84047
      View Details
    • $22/mo

      Midvale Flex Space For Lease

      12,834 SF flex space with easy I-15 access.
      675 W Commerce Park Dr, Midvale, UT
      View Details
    • $24/mo

      Move-In Ready Office Space

      Office space for lease in ideal Fort Union location.
      1275 E Fort Union Blvd, Midvale, UT
      View Details

    FAQs

    What type of property is this?
    Office units - Office space available for lease in Midvale, Utah.
    Where is this office units located?
    The property is located at 7050 Union Park Ave Midvale, UT.
    What is the lease rate?
    The lease rate is $22 SF/Yr.
    What are key features of this property?
    This property features: Immediate availability of move‑in ready spec suites.; Excellent visibility and building signage opportunities to enhance your brand.; Highly walkable location with access to Fort Union shops and restaurants.
    (801) 456-9510
    We can help!
    Listing Contact
    David Nixon
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!