Church Facility with Adaptable
For Sale
$1,425,000
1755 W NORTH TEMPLE St, Salt Lake City, UT 84116
Current religious use with convenient access to major routes and exposure to pedestrian and roadway traffic.
Property Size4,661 SF
Price / SF$305.73
Days on Market520
Property Features for 1755 W NORTH TEMPLE St
General Information
Standard status
Active
Size
4,661 SF
Property subtype
Commercial/Industrial
Building Details
Year Built
1990
Listing Agency:
RE/MAX Associates
(801) 898-8810
Listed By:
Robert L. II Farnsworth · License #5450670
(801) 898-8810
Source:
Exitrealty
Added: Mar 29, 2025
Changed: Aug 29
Last Checked: Aug 29 at 3:44PM
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 RE/MAX Associates
Investment Insights
Based on property information with market context.
This 4,661-square-foot facility at 1755 W North Temple St is currently used by The Pentecostals of Salt Lake Church. Constructed in 1990, the property includes a flexible interior arrangement that can support religious, office, or retail-oriented operations as described, subject to applicable requirements.
The building is situated in the Plaza 55 area of Salt Lake City, with exposure to both foot and roadway traffic. Access to major routes adds convenience for visitors, clients, and staff. Its location and adaptable configuration provide a practical setting for an organization or commercial user seeking a visible presence along North Temple Street.
The building is situated in the Plaza 55 area of Salt Lake City, with exposure to both foot and roadway traffic. Access to major routes adds convenience for visitors, clients, and staff. Its location and adaptable configuration provide a practical setting for an organization or commercial user seeking a visible presence along North Temple Street.
Key Highlights
- 4,661‑square‑foot facility at 1755 W North Temple St
- Currently used by The Pentecostals of Salt Lake Church
- Flexible layout suited to religious, office, or retail‑oriented operations
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
$69,643
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
4.89%
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%
$1,392,860
$1.4M
Cap Rate 7%
$994,900
$994.9K
Cap Rate 9%
$773,811
$773.8K
Market Conditions
NOI Build-Up for 4,661 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
$102.4K $21.96/SF
− Vacancy
−$2.9K −$0.61/SF
EGI
$99.5K $21.35/SF
− OpEx
−$29.8K −$6.40/SF
NOI
$69.6K $14.94/SF
Area
Salt Lake City, UT
Vacancy
2.80%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
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%
$1,392,860
Cap Rate 7%
$994,900
Cap Rate 9%
$773,811
Alternative Uses
Best Use
Retail
$994.9K
$870.5K – $1.16M
NOI $69,643 @ 7.0% cap · market cap 4.89%
Second Best
Office B
$965.4K
$844.8K – $1.13M
NOI $67,580 @ 7.0% cap · market cap 4.74%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $87,902 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
227
Businesses Nearby
Explore this area
Business Placement
Demographics for 84116, UT
35,327
Population
14,487
Households
2.4
Avg Household Size
31
Median Age
24%
College-Educated
82%
High-School Grad
50.3 sq mi
ZIP Area
702
Density / Sq Mi
$69,604
Median Household Income
$38,492
Median Earnings
$1,280
Median Rent
$334,900
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?
Church & religious facility - Current religious use with convenient access to major routes and exposure to pedestrian and roadway traffic.
Where is this church & religious facility located?
The property is located at 1755 W NORTH TEMPLE St Salt Lake City, UT.
What is the asking price?
The asking price for this property is $1,425,000.
What are key features of this property?
This property features: 4,661‑square‑foot facility at 1755 W North Temple St; Currently used by The Pentecostals of Salt Lake Church; Flexible layout suited to religious, office, or retail‑oriented operations
