Office Building with Direct Light Rail
For Sale
Contact for pricing
231 E 400 S, Salt Lake City, UT 84111
Fully leased office building with direct Library Station TRAX UT light rail access and TSA-UC-C zoning in a high-traffic area.
Property Size54,815 SF
Lot Size0.88 Acres
Price / SF$209.80
Days on Market1560
Property Features for 231 E 400 S
General Information
Standard status
Active
Size
54,815 SF
Total Parking Spaces
132
Lot size
0.88 Acres
Property subtype
OFFICE
Zoning
TSA-UC-C
Occupancy
100%
Additional Details
Asking Price
$11,500,000
Public Transit
Yes
Building Details
Year Built
1963
Buildings
1
Building Size
54,815 SF
Parking Ratio
2.64 per 1,000 SF
Listing Agency:
Mountain West - Corporate
(801) 578-5545
Listed By:
J.R. Howa
Source:
Moodyscre
Added: Apr 25, 2022
Changed: Jul 31
Last Checked: Jul 31 at 10:05AM
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 Mountain West - Corporate
Investment Insights
Based on property information with market context.
This office building offers approximately 54,815 SF on 0.88 acres and is fully leased with 100% occupancy. A three-story parking structure supports 132 stalls, including 47 surface and 85 covered spaces. Built in 1963, the property is described as having many short-term or month-to-month leases, supporting interest from owner-users as well as value-add or redevelopment strategies.
The property is in a high-traffic area with direct access to the Library Station TRAX UT light rail stop. Public traffic counts provided include approximately 21,380 ADT on 400 South and 16,412 ADT on 200 East, with the University of Utah approximately seven minutes away. The property is positioned within TSA-UC-C (Urban Center Transit Station (Core)) zoning.
The property is in a high-traffic area with direct access to the Library Station TRAX UT light rail stop. Public traffic counts provided include approximately 21,380 ADT on 400 South and 16,412 ADT on 200 East, with the University of Utah approximately seven minutes away. The property is positioned within TSA-UC-C (Urban Center Transit Station (Core)) zoning.
Key Highlights
- Fully leased with 100% occupancy
- Approximately 54,815 SF office building on 0.88 acres
- Direct access to the Library Station TRAX UT light rail stop
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.18M | $21.48 |
| − Vacancy | −$117.7k | −$2.15 |
| EGI | $1.06M | $19.33 |
| − OpEx | −$264.9k | −$4.83 |
| NOI | $794.8k | $14.50 |
54,815 SF · lease $21.48/SF/yr · vacancy 10.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$11.35M
$9.93M – $13.25M
NOI $794,763 @ 7.0% cap · market cap 6.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$14.77M
$12.92M – $17.23M
NOI $1,033,757 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
7,167
Businesses Nearby
Explore this area
Business Placement
Demographics for 84111, UT
12,162
Population
8,635
Households
1.4
Avg Household Size
34
Median Age
55%
College-Educated
95%
High-School Grad
1.4 sq mi
ZIP Area
8,687
Density / Sq Mi
$57,188
Median Household Income
$49,490
Median Earnings
$1,294
Median Rent
$423,000
Median Home Value
Market
Vacancy Rate% for Office in Salt Lake City, UT
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Fully leased office building with direct Library Station TRAX UT light rail access and TSA-UC-C zoning in a high-traffic area.
Where is this office building located?
The property is located at 231 E 400 S Salt Lake City, UT.
What is the asking price?
The asking price for this property is $11,500,000.
What are key features of this property?
This property features: Fully leased with 100% occupancy; Approximately 54,815 SF office building on 0.88 acres; Direct access to the Library Station TRAX UT light rail stop
