Two-Story Office Condo For
For Sale
$525,000
684 Vine Street, Murray, UT 84107
3,000 SF office condo in Murray, UT, for sale.
Property Size3,000 SF
Price / SF$175
Days on Market150
Property Features for 684 Vine Street
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Office
Listing Agency:
CBRE | Salt Lake City
(801) 869-8028
Listed By:
James Mecham · License #5479783-SA00
(801) 869-8028
Source:
Cbre
Added: Mar 25
Changed: Aug 19
Last Checked: Aug 20 at 9:27AM
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 CBRE | Salt Lake City
Investment Insights
Based on property information with market context.
This is a 3,000 square foot, two-story office condo for sale at $175.00 per square foot. The property is located in Murray, Utah, and offers convenient access to parking. Its central valley location provides easy access to I-15 via 5300 South. As of October 2021, the property is under contract.
Key Highlights
- Convenient Central Valley Location
- Easy access to I‑15 on 5300 South
- Immediate parking access
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
$43,497
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
8.29%
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%
$869,940
$869.9K
Cap Rate 7%
$621,386
$621.4K
Cap Rate 9%
$483,300
$483.3K
Market Conditions
NOI Build-Up for 3,000 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
$64.4K $21.48/SF
− Vacancy
−$6.4K −$2.15/SF
EGI
$58.0K $19.33/SF
− OpEx
−$14.5K −$4.83/SF
NOI
$43.5K $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%
$869,940
Cap Rate 7%
$621,386
Cap Rate 9%
$483,300
Alternative Uses
Best Use
Office B
$621.4K
$543.7K – $725.0K
NOI $43,497 @ 7.0% cap · market cap 8.29%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$39.95M
$34.95M – $46.60M
NOI $2,796,227 @ 7.0% cap · market cap 532.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
892
Businesses Nearby
Explore this area
Business Placement
Demographics for 84107, UT
37,713
Population
17,287
Households
2.2
Avg Household Size
34
Median Age
38%
College-Educated
93%
High-School Grad
7.5 sq mi
ZIP Area
5,028
Density / Sq Mi
$73,469
Median Household Income
$46,098
Median Earnings
$1,387
Median Rent
$426,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - 3,000 SF office condo in Murray, UT, for sale.
Where is this office units located?
The property is located at 684 Vine Street Murray, UT.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Convenient Central Valley Location; Easy access to I‑15 on 5300 South; Immediate parking access
