Storefront Retail
For Sale
$774,500
123 S JEREMY ST, Salt Lake City, UT 84104
For-sale storefront retail property located at 123 S Jeremy St in Salt Lake City, UT.
Property Size2,735 SF
Days on Market149
Property Features for 123 S JEREMY ST
General Information
Standard status
Active
Size
2,735 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$2,290
Building Details
Building Size
2,735 SF
Year Built
1928
Listing Agency:
Spark Realty, LLC
Listed By:
Christie Daugherty · License #8650059
(435) 229-1990
Source:
Acresutah
Added: Apr 14
Changed: Sep 8
Last Checked: Sep 8 at 12:43PM
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, LLC
Investment Insights
Based on property information with market context.
This for-sale storefront retail property is located at 123 S Jeremy St in Salt Lake City, Utah 84104. The property is listed as a storefront retail/commercial space within Salt Lake County.
While specific interior features and configuration details are not provided, this asset is positioned for general retail use as a standalone storefront offering within a developed city address.
Interested parties can contact the listing team for additional information regarding the premises, including layout and any available property details beyond the address and property type.
While specific interior features and configuration details are not provided, this asset is positioned for general retail use as a standalone storefront offering within a developed city address.
Interested parties can contact the listing team for additional information regarding the premises, including layout and any available property details beyond the address and property type.
Key Highlights
- For‑sale storefront retail property located at 123 S Jeremy St, Salt Lake City, UT
- Year built: 1928
- Heating listed as none
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
$40,865
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
5.28%
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%
$817,300
$817.3K
Cap Rate 7%
$583,786
$583.8K
Cap Rate 9%
$454,056
$454.1K
Market Conditions
NOI Build-Up for 2,735 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
$60.1K $21.96/SF
− Vacancy
−$1.7K −$0.61/SF
EGI
$58.4K $21.35/SF
− OpEx
−$17.5K −$6.40/SF
NOI
$40.9K $14.94/SF
Area
Salt Lake City, UT
Vacancy
2.80%
Lease Rate
$21.96 /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%
$817,300
Cap Rate 7%
$583,786
Cap Rate 9%
$454,056
Alternative Uses
Best Use
Retail
$583.8K
$510.8K – $681.1K
NOI $40,865 @ 7.0% cap · market cap 5.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$736.8K
$644.7K – $859.7K
NOI $51,579 @ 7.0% cap · market cap 6.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,538
Businesses Nearby
51k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 59%
Shops & Services 39%
Hotels & Casinos 2%
McDonald's
Dining
15,190 visits/mo
0.4 miles
Rancherito's
Dining
9,965 visits/mo
0.3 miles
7-Eleven
Shops & Services
7,080 visits/mo
0.4 miles
AutoZone
Shops & Services
6,357 visits/mo
0.3 miles
O'Reilly Auto Parts
Shops & Services
3,044 visits/mo
0.3 miles
Demographics for 84104, UT
23,487
Population
8,452
Households
2.8
Avg Household Size
31
Median Age
22%
College-Educated
78%
High-School Grad
21.6 sq mi
ZIP Area
1,087
Density / Sq Mi
$61,326
Median Household Income
$35,013
Median Earnings
$1,235
Median Rent
$318,100
Median Home Value
Market
Vacancy Rate% for Retail in Salt Lake City, UT
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - For-sale storefront retail property located at 123 S Jeremy St in Salt Lake City, UT.
Where is this storefront property located?
The property is located at 123 S JEREMY ST Salt Lake City, UT.
What is the asking price?
The asking price for this property is $774,500.
What are key features of this property?
This property features: For‑sale storefront retail property located at 123 S Jeremy St, Salt Lake City, UT; Year built: 1928; Heating listed as none
