Two-Story Office
173 W Election Rd Draper, UT 84020
For Sale
Contact for pricing
Two-story, Class B office building built in 1998 with large floor plates and abundant natural light.
Property Size75,400 SF
Lot Size5.40 Acres
Price / SF$169.76
Days on Market37
Property Features for 173 W Election Rd
General Information
Standard status
Active
Size
75,400 SF
Lot size
5.40 Acres
Property subtype
OFFICE
Listing Agency:
JLL | Salt Lake City
(801) 456-9514
Listed By:
Amanda Lawson · License #6827459-SA00
(385) 419-3191
Source:
Moodyscre
Added: Jun 24
Changed: Jul 29
Last Checked: Jul 29 at 2:39PM
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.
A two-story Class B office building totaling 75,400 SF, built in 1998 and set on 5.4 acres. The building offers large, efficient floor plates of approximately 37,700 SF per floor and is described as providing abundant natural light.
Previously occupied and institutionally maintained by a single corporate publicly traded Fortune 500 company, the property is positioned for straightforward corporate office use.
Located in the Silicon Slopes area—described as a crossroads of deep tech talent with easy access for both Salt Lake and Utah Counties—the building supports day-to-day office operations with a straightforward two-floor layout and substantial floor plate sizes.
Previously occupied and institutionally maintained by a single corporate publicly traded Fortune 500 company, the property is positioned for straightforward corporate office use.
Located in the Silicon Slopes area—described as a crossroads of deep tech talent with easy access for both Salt Lake and Utah Counties—the building supports day-to-day office operations with a straightforward two-floor layout and substantial floor plate sizes.
Key Highlights
- 75,400 SF two‑story Class B office building
- Built in 1998
- Approximately 37,700 SF per floor floor plates
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 | $1.62M | $21.48 |
| − Vacancy | −$162.0k | −$2.15 |
| EGI | $1.46M | $19.33 |
| − OpEx | −$364.4k | −$4.83 |
| NOI | $1.09M | $14.50 |
75,400 SF · lease $21.48/SF/yr · vacancy 10.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$15.62M
$13.67M – $18.22M
NOI $1,093,225 @ 7.0% cap · market cap 8.54%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1,003.98M
$878.48M – $1,171.31M
NOI $70,278,514 @ 7.0% cap · market cap 549.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Two-story, Class B office building built in 1998 with large floor plates and abundant natural light.
Where is this office building located?
The property is located at 173 W Election Rd Draper, UT.
What is the asking price?
The asking price for this property is $12,800,000.
What are key features of this property?
This property features: 75,400 SF two‑story Class B office building; Built in 1998; Approximately 37,700 SF per floor floor plates
