Salt Lake City Office
For Sale
Contact for pricing
1214 E Vine St, Salt Lake City, UT
Office space with convenient access to amenities and major routes.
Property Size4,510 SF
Lot Size0.13 Acres
Price / SF$264.97
Days on Market333
Property Features for 1214 E Vine St
General Information
Standard status
Active
Size
4,510 SF
Lot size
0.13 Acres
Property subtype
OFFICE
Listing Agency:
Roderick Realty
(801) 506-5005
Listed By:
Amy Broadbent
Source:
Moodyscre
Added: Oct 22, 2025
Changed: Jul 10
Last Checked: Sep 18 at 8:09AM
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 Roderick Realty
Investment Insights
Based on property information with market context.
This office space, suitable for professional or medical use, offers immediate access to I-215 and I-15. It is located within a fifteen-minute drive to Salt Lake International Airport, downtown Salt Lake City, and various ski resorts. The property features private office suites with vaulted ceilings, a kitchen-break room, a conference room, and ample storage space. The location is convenient to restaurants, Intermountain Medical Center, retail shops, and services. The property contains 4,510 square feet.
Key Highlights
- Immediate access to I‑215 / I‑15.
- Purchase Price $1,290,000 or Lease Rate $22.00 SF / NNN.
- Fifteen minute drive to Salt Lake International Airport, downtown Salt Lake City and ski resorts.
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
$65,390
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
5.47%
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%
$1,307,800
$1.3M
Cap Rate 7%
$934,143
$934.1K
Cap Rate 9%
$726,556
$726.6K
Market Conditions
NOI Build-Up for 4,510 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
$96.9K $21.48/SF
− Vacancy
−$9.7K −$2.15/SF
EGI
$87.2K $19.33/SF
− OpEx
−$21.8K −$4.83/SF
NOI
$65.4K $14.50/SF
Area
Salt Lake City, 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%
$1,307,800
Cap Rate 7%
$934,143
Cap Rate 9%
$726,556
Alternative Uses
Best Use
Office B
$934.1K
$817.4K – $1.09M
NOI $65,390 @ 7.0% cap · market cap 5.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.06M – $1.42M
NOI $85,054 @ 7.0% cap · market cap 7.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
569
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Market
Vacancy Rate% for Office in Salt Lake City, UT
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Frequently Asked Questions
What type of property is this?
Office units - Office space with convenient access to amenities and major routes.
Where is this office units located?
The property is located at 1214 E Vine St Salt Lake City, UT.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Immediate access to I‑215 / I‑15.; Purchase Price $1,290,000 or Lease Rate $22.00 SF / NNN.; Fifteen minute drive to Salt Lake International Airport, downtown Salt Lake City and ski resorts.
