Two-Story Office
For Sale
Contact for pricing
173 W Election Rd, Draper, UT 84020
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 Market128
Property Features for 173 W Election Rd
General Information
Standard status
Active
Size
75,400 SF
Class
Class B
Lot size
5.40 Acres
Property subtype
OFFICE
Building Details
Year Built
1998
Buildings
1
Stories
2
Listing Agency:
JLL | Salt Lake City
(801) 456-9510
Listed By:
Jami Marsh · License #5488712-PB00
(801) 456-9514
Source:
Moodyscre
Added: Jun 24
Changed: Oct 25
Last Checked: Oct 28 at 7:55AM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$1,093,225
Cap Rate
8.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$21,864,500
$21.9M
Cap Rate 7%
$15,617,500
$15.6M
Cap Rate 9%
$12,146,944
$12.1M
Market Conditions
NOI Build-Up for 75,400 SF
Gross rent
$1.62M $21.48/SF
− Vacancy
−$162.0K −$2.15/SF
EGI
$1.46M $19.33/SF
− OpEx
−$364.4K −$4.83/SF
NOI
$1.09M $14.50/SF
Area
Salt Lake County, 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%
$21,864,500
Cap Rate 7%
$15,617,500
Cap Rate 9%
$12,146,944
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.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,405
Businesses Nearby
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Business Placement
Demographics for 84020, UT
51,017
Population
16,865
Households
3
Avg Household Size
34
Median Age
51%
College-Educated
97%
High-School Grad
27.2 sq mi
ZIP Area
1,876
Density / Sq Mi
$130,680
Median Household Income
$55,377
Median Earnings
$1,812
Median Rent
$726,000
Median Home Value
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Market
Vacancy Rate% for Office in West region
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
