Two-Story Research and Development
For Sale
Contact for pricing
1065 W Levoy Dr, Salt Lake City, UT 84123
Two-story office property with flexible open areas, a large team kitchen, backup power, and an occupied first floor.
Property Size45,520 SF
Price / SF$190
Days on Market618
Property Features for 1065 W Levoy Dr
General Information
Standard status
Active
Size
45,520 SF
Property subtype
OFFICE
Zoning
RD
Additional Details
Highway Access
Yes
Amenities
Crown Signage Available
Backup Generator On-site
large team kitchen
Building Details
Buildings
1
Stories
2
Listing Agency:
JLL | Salt Lake City
(801) 456-9510
Listed By:
David Nixon · License #8606046-SA00
(801) 456-9518
Source:
Moodyscre
Added: Feb 4, 2025
Changed: Oct 1
Last Checked: Oct 14 at 10:37PM
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.
The two-story office building contains 45,520 square feet with open areas, light office improvements, and a large team kitchen. A backup generator is installed on-site, and crown signage is available. The first floor is occupied by a tenant, providing an existing income component within the property.
The property is located at 1065 W Levoy Dr in Salt Lake City, between I-15 and I-215. It is zoned RD, with research and development uses permitted, supporting the building’s office-oriented configuration and broader approved use profile.
The property is located at 1065 W Levoy Dr in Salt Lake City, between I-15 and I-215. It is zoned RD, with research and development uses permitted, supporting the building’s office-oriented configuration and broader approved use profile.
Key Highlights
- 45,520‑square‑foot two‑story office building
- RD zoning with research and development uses permitted
- Open interior areas with light office build‑out
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$659,994
Cap Rate
7.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$13,199,880
$13.2M
Cap Rate 7%
$9,428,486
$9.4M
Cap Rate 9%
$7,333,267
$7.3M
Market Conditions
NOI Build-Up for 45,520 SF
Gross rent
$977.8K $21.48/SF
− Vacancy
−$97.8K −$2.15/SF
EGI
$880.0K $19.33/SF
− OpEx
−$220.0K −$4.83/SF
NOI
$660.0K $14.50/SF
Area
Salt Lake City, 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 Rate 5%
$13,199,880
Cap Rate 7%
$9,428,486
Cap Rate 9%
$7,333,267
Alternative Uses
Best Use
Office B
$9.43M
$8.25M – $11.00M
NOI $659,994 @ 7.0% cap · market cap 7.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.26M
$10.73M – $14.31M
NOI $858,462 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
294
Businesses Nearby
Explore this area
Business Placement
Demographics for 84123, UT
39,489
Population
14,716
Households
2.7
Avg Household Size
34
Median Age
28%
College-Educated
91%
High-School Grad
8.3 sq mi
ZIP Area
4,758
Density / Sq Mi
$80,079
Median Household Income
$42,195
Median Earnings
$1,416
Median Rent
$436,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Salt Lake City, UT
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Two-story office property with flexible open areas, a large team kitchen, backup power, and an occupied first floor.
Where is this office building located?
The property is located at 1065 W Levoy Dr Salt Lake City, UT.
What is the asking price?
The asking price for this property is $8,648,800.
What are key features of this property?
This property features: 45,520‑square‑foot two‑story office building; RD zoning with research and development uses permitted; Open interior areas with light office build‑out
