Mixed-Use Multifamily with
For Sale
$12,990,000
1326 S 500 E, Salt Lake City, UT 84105
Turnkey 32-unit multifamily building with two ground-floor commercial units and heated underground parking with elevator access.
Property Size33,169 SF
Price / SF$391.63
Days on Market100
Property Features for 1326 S 500 E
General Information
Standard status
Active
Size
33,169 SF
Property subtype
> 4 Units
Additional Details
Business Included
Yes
Multifamily Units
34
Building Details
Building Size
33,169 SF
Year Built
2025
Listing Agency:
Colemere Realty Associates LLC
(801) 272-8192
Listed By:
J. Scott Colemere
(801) 403-8565
Source:
Liftrealty
Added: Jun 1
Changed: Sep 7
Last Checked: Sep 7 at 7:34AM
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 Colemere Realty Associates LLC
Investment Insights
Based on property information with market context.
This turnkey multifamily property offers 32 residential units along with two ground-floor commercial units. The building includes a heated underground parking garage and provides elevator access to all levels, supporting convenient resident movement throughout the property. Additional onsite features described in the offering include a private, expansive second-floor courtyard and a secure entry system.
The property is positioned just a half-block from Liberty Park in Salt Lake City, creating a connection to a high-profile local amenity. The two commercial spaces are presented as high-visibility storefronts intended to serve neighborhood foot traffic.
With its combination of residential and ground-floor commercial space, the asset is configured to support diversified income within a single building.
The property is positioned just a half-block from Liberty Park in Salt Lake City, creating a connection to a high-profile local amenity. The two commercial spaces are presented as high-visibility storefronts intended to serve neighborhood foot traffic.
With its combination of residential and ground-floor commercial space, the asset is configured to support diversified income within a single building.
Key Highlights
- Newer 2025 construction: 34‑unit multifamily building with two ground‑floor commercial units
- Heated underground parking garage with secure access and elevator service to all levels
- Private second‑floor courtyard for residents
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
$410,913
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
3.16%
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%
$8,218,260
$8.2M
Cap Rate 7%
$5,870,186
$5.9M
Cap Rate 9%
$4,565,700
$4.6M
Market Conditions
NOI Build-Up for 33,169 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
$788.1K $23.76/SF
− Vacancy
−$41.0K −$1.24/SF
EGI
$747.1K $22.52/SF
− OpEx
−$336.2K −$10.14/SF
NOI
$410.9K $12.39/SF
Area
Salt Lake City, UT
Vacancy
5.20%
Lease Rate
$23.76 /SF/Yr
Expense Ratio
45.00%
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%
$8,218,260
Cap Rate 7%
$5,870,186
Cap Rate 9%
$4,565,700
Alternative Uses
Best Use
Apartment 5plus
$5.87M
$5.14M – $6.85M
NOI $410,913 @ 7.0% cap · market cap 3.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.94M
$7.82M – $10.43M
NOI $625,534 @ 7.0% cap · market cap 4.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
34
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
705
Businesses Nearby
Explore this area
Business Placement
Demographics for 84105, UT
22,856
Population
10,953
Households
2.1
Avg Household Size
35
Median Age
66%
College-Educated
97%
High-School Grad
3.1 sq mi
ZIP Area
7,373
Density / Sq Mi
$94,145
Median Household Income
$52,785
Median Earnings
$1,482
Median Rent
$632,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Turnkey 32-unit multifamily building with two ground-floor commercial units and heated underground parking with elevator access.
Where is this apartment building located?
The property is located at 1326 S 500 E Salt Lake City, UT.
What is the asking price?
The asking price for this property is $12,990,000.
What are key features of this property?
This property features: Newer 2025 construction: 34‑unit multifamily building with two ground‑floor commercial units; Heated underground parking garage with secure access and elevator service to all levels; Private second‑floor courtyard for residents
