Warm Shell Office
For Sale
Contact for pricing
8327 S State St, Sandy, UT 84070
Office building built in 2022 delivered in warm shell condition for an owner-user or tenant buildout.
Property Size9,878 SF
Price / SF$278.40
Days on Market1243
Property Features for 8327 S State St
General Information
Standard status
Active
Size
9,878 SF
Property subtype
OFFICE
Building Details
Year Built
2022
Listing Agency:
JLL | Salt Lake City
(801) 456-9510
Listed By:
David Nixon · License #8606046-SA00
(801) 456-9518
Source:
Moodyscre
Added: Apr 21, 2023
Changed: Sep 13
Last Checked: Sep 14 at 9:28AM
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.
Built in 2022, this office building is offered in warm shell condition, providing a partially finished interior suitable for customization to fit your specific requirements. The property is positioned for owner-user occupancy within a new mixed-use development area described as offering high exposure.
Located at 8327 S State St in Sandy, UT 84070, the building benefits from a prominent setting in an active development corridor. This is a straightforward option for a business looking to acquire a newer office asset and tailor the space after closing.
Located at 8327 S State St in Sandy, UT 84070, the building benefits from a prominent setting in an active development corridor. This is a straightforward option for a business looking to acquire a newer office asset and tailor the space after closing.
Key Highlights
- Office building built in 2022
- Delivered in warm shell condition for an owner‑user or tenant buildout
- High exposure in a new mixed‑use development area
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
$143,221
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
5.21%
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%
$2,864,420
$2.9M
Cap Rate 7%
$2,046,014
$2.0M
Cap Rate 9%
$1,591,344
$1.6M
Market Conditions
NOI Build-Up for 9,878 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
$212.2K $21.48/SF
− Vacancy
−$21.2K −$2.15/SF
EGI
$191.0K $19.33/SF
− OpEx
−$47.7K −$4.83/SF
NOI
$143.2K $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%
$2,864,420
Cap Rate 7%
$2,046,014
Cap Rate 9%
$1,591,344
Alternative Uses
Best Use
Office B
$2.05M
$1.79M – $2.39M
NOI $143,221 @ 7.0% cap · market cap 5.21%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$131.53M
$115.09M – $153.45M
NOI $9,207,045 @ 7.0% cap · market cap 334.80%
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
616
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 built in 2022 delivered in warm shell condition for an owner-user or tenant buildout.
Where is this office building located?
The property is located at 8327 S State St Sandy, UT.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Office building built in 2022; Delivered in warm shell condition for an owner‑user or tenant buildout; High exposure in a new mixed‑use development area
