Office Condo
For Sale
Contact for pricing
8706 S 700 E, Sandy, UT 84070
Office condo for sale offering 2,087 SF of office space.
Property Size2,087 SF
Price / SF$299
Days on Market1759
Property Features for 8706 S 700 E
General Information
Standard status
Active
Size
2,087 SF
Class
B
Property subtype
Office
Investment Type
Owner/User
Listing Agency:
NAI Excel
(801) 619-2707
Listed By:
Jim McLachlan · License #UT 7216473-SA00
Source:
Crexi
Added: Nov 5, 2021
Changed: Aug 15
Last Checked: Aug 28 at 11:47AM
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 NAI Excel
Investment Insights
Based on property information with market context.
This offering is an office condo suite configured as commercial office space, totaling 2,087 square feet.
The property is located at 8706 S 700 E in Sandy, Utah 84070.
Interested parties can evaluate the suite’s layout and condition for their professional office needs as part of the condo ownership structure.
The property is located at 8706 S 700 E in Sandy, Utah 84070.
Interested parties can evaluate the suite’s layout and condition for their professional office needs as part of the condo ownership structure.
Key Highlights
- Office condo for sale offering 2,087 SF of office space
- Building area: 2,087 SF (office condo)
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
$30,259
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
4.85%
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%
$605,180
$605.2K
Cap Rate 7%
$432,271
$432.3K
Cap Rate 9%
$336,211
$336.2K
Market Conditions
NOI Build-Up for 2,087 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
$44.8K $21.48/SF
− Vacancy
−$4.5K −$2.15/SF
EGI
$40.3K $19.33/SF
− OpEx
−$10.1K −$4.83/SF
NOI
$30.3K $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%
$605,180
Cap Rate 7%
$432,271
Cap Rate 9%
$336,211
Alternative Uses
Best Use
Office B
$432.3K
$378.2K – $504.3K
NOI $30,259 @ 7.0% cap · market cap 4.85%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$27.79M
$24.32M – $32.42M
NOI $1,945,242 @ 7.0% cap · market cap 311.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
643
Businesses Nearby
Explore this area
Business Placement
Demographics for 84070, UT
30,885
Population
12,212
Households
2.5
Avg Household Size
34
Median Age
36%
College-Educated
93%
High-School Grad
7.3 sq mi
ZIP Area
4,231
Density / Sq Mi
$79,414
Median Household Income
$44,013
Median Earnings
$1,578
Median Rent
$429,400
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 - Office condo for sale offering 2,087 SF of office space.
Where is this office units located?
The property is located at 8706 S 700 E Sandy, UT.
What is the asking price?
The asking price for this property is $624,013.
What are key features of this property?
This property features: Office condo for sale offering 2,087 SF of office space; Building area: 2,087 SF (office condo)
