Fully Leased Office
New
For Sale
$3,350,000
155 W CANYON CREST RD, Alpine, UT 84004
Well-maintained office property with multiple lease structures and dedicated parking.
Property Size10,913 SF
Days on Market7
Property Features for 155 W CANYON CREST RD
General Information
Standard status
Active
Size
10,913 SF
Total Parking Spaces
40
Property subtype
Office
Occupancy
100%
Additional Details
Cap Rate
6.5%
Office Units
2
Building Details
Building Size
10,913 SF
Year Built
2008
Tenancy
Multi
Parking Ratio
4 per 1,000 SF
Listing Agency:
Berkshire Hathaway HomeServices Utah Properties (Salt Lake)
(801) 949-5883
Listed By:
Michael P. Krause · License #6608967-PB00
(801) 949-5883
Source:
Liftrealty
Added: Aug 25
Changed: Aug 30
Last Checked: Aug 30 at 6:55PM
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 Berkshire Hathaway HomeServices Utah Properties (Salt Lake)
Investment Insights
Based on property information with market context.
Built in 2008, this Alpine office building is fully leased and includes two units with multi-year leases. The top-floor unit is subject to a modified gross lease, providing multiple lease structures within the property. The building is described as well maintained and is served by an on-site parking lot with 40 spaces. Parking lot improvements are scheduled for 2026. The property is located at 155 W Canyon Crest Rd in Alpine, Utah.
Key Highlights
- Fully leased office building at 155 W CANYON CREST RD, Alpine, UT 84004
- Two units carry multi‑year leases
- Top‑floor unit uses a modified gross lease structure
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
$153,219
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
4.57%
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%
$3,064,380
$3.1M
Cap Rate 7%
$2,188,843
$2.2M
Cap Rate 9%
$1,702,433
$1.7M
Market Conditions
NOI Build-Up for 10,913 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
$261.9K $24.00/SF
− Vacancy
−$57.6K −$5.28/SF
EGI
$204.3K $18.72/SF
− OpEx
−$51.1K −$4.68/SF
NOI
$153.2K $14.04/SF
Area
Utah County, UT
Vacancy
22.00%
Lease Rate
$24.00 /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%
$3,064,380
Cap Rate 7%
$2,188,843
Cap Rate 9%
$1,702,433
Alternative Uses
Best Use
Office B
$2.19M
$1.92M – $2.55M
NOI $153,219 @ 7.0% cap · market cap 4.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.01M
$2.63M – $3.51M
NOI $210,577 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
481
Businesses Nearby
Explore this area
Business Placement
Demographics for 84004, UT
10,259
Population
3,133
Households
3.3
Avg Household Size
32
Median Age
57%
College-Educated
99%
High-School Grad
31.0 sq mi
ZIP Area
331
Density / Sq Mi
$156,786
Median Household Income
$52,765
Median Earnings
$2,786
Median Rent
$893,400
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Well-maintained office property with multiple lease structures and dedicated parking.
Where is this office building located?
The property is located at 155 W CANYON CREST RD Alpine, UT.
What is the asking price?
The asking price for this property is $3,350,000.
What are key features of this property?
This property features: Fully leased office building at 155 W CANYON CREST RD, Alpine, UT 84004; Two units carry multi‑year leases; Top‑floor unit uses a modified gross lease structure
