Updated Office
For Sale
Contact for pricing
1225 E Fort Union Blvd, Midvale, UT 84121
Office building with updated common areas, refreshed restrooms, and recent exterior and landscaping improvements.
Property Size33,983 SF
Price / SF$220
Days on Market67
Property Features for 1225 E Fort Union Blvd
General Information
Standard status
Active
Size
33,983 SF
Property subtype
OFFICE
Additional Details
Business Included
No
Amenities
Updated common area finishes
New lobby directory and artwork
Refreshed restrooms
Parking lot resurfaced
New landscaping
Listing Agency:
JLL | Salt Lake City
(801) 456-9510
Listed By:
Jami Marsh · License #5488712-PB00
(801) 456-9514
Source:
Moodyscre
Added: Jul 9
Changed: Aug 13
Last Checked: Sep 12 at 10:52AM
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
Investment Insights
Based on property information with market context.
This office building has been refreshed throughout, including updated common area finishes, a new lobby directory and artwork, and refreshed restrooms. The property’s exterior has also been improved with a resurfaced parking lot and new landscaping.
The building is located at 1225 E Fort Union Blvd in Midvale, UT 84121. The current updates support a clean, maintained tenant and visitor experience, with on-site parking serving daily access needs.
The property is offered for sale.
The building is located at 1225 E Fort Union Blvd in Midvale, UT 84121. The current updates support a clean, maintained tenant and visitor experience, with on-site parking serving daily access needs.
The property is offered for sale.
Key Highlights
- Updated common area finishes throughout the building
- New lobby directory and artwork
- Refreshed restrooms
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
$492,720
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
6.59%
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%
$9,854,400
$9.9M
Cap Rate 7%
$7,038,857
$7.0M
Cap Rate 9%
$5,474,667
$5.5M
Market Conditions
NOI Build-Up for 33,983 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
$730.0K $21.48/SF
− Vacancy
−$73.0K −$2.15/SF
EGI
$657.0K $19.33/SF
− OpEx
−$164.2K −$4.83/SF
NOI
$492.7K $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%
$9,854,400
Cap Rate 7%
$7,038,857
Cap Rate 9%
$5,474,667
Alternative Uses
Best Use
Office B
$7.04M
$6.16M – $8.21M
NOI $492,720 @ 7.0% cap · market cap 6.59%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$452.50M
$395.93M – $527.91M
NOI $31,674,731 @ 7.0% cap · market cap 423.67%
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
2,187
Businesses Nearby
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Business Placement
Demographics for 84121, UT
41,628
Population
16,669
Households
2.5
Avg Household Size
40
Median Age
52%
College-Educated
97%
High-School Grad
64.5 sq mi
ZIP Area
645
Density / Sq Mi
$114,912
Median Household Income
$56,990
Median Earnings
$1,732
Median Rent
$614,500
Median Home Value
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Office building with updated common areas, refreshed restrooms, and recent exterior and landscaping improvements.
Where is this office building located?
The property is located at 1225 E Fort Union Blvd Midvale, UT.
What is the asking price?
The asking price for this property is $7,476,260.
What are key features of this property?
This property features: Updated common area finishes throughout the building; New lobby directory and artwork; Refreshed restrooms
