Standalone Office with Prime
For Sale
$879,000
177 E FORT UNION BLVD E, Midvale, UT 84047
Standalone office building offers private offices, conference space, and restrooms with high-visibility frontage.
Property Size3,010 SF
Price / SF$292.03
Days on Market65
Property Features for 177 E FORT UNION BLVD E
General Information
Standard status
Active
Size
3,010 SF
Zoning
Commercial
Site & Location
Traffic Count
35,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$7,747
Amenities
Customized Wheelchair Accessible, Accessible Entrance
Central Air
Forced Air
Paved
Building Details
Building Size
3,010 SF
Year Built
2000
Listing Agency:
Colliers | Salt Lake City Millrock
Listed By:
Marcy Pitman · License #UT 7815665-AB00
(801) 946-1140
Source:
Evrealestate
Added: Jul 7
Changed: Sep 8
Last Checked: Sep 8 at 3:29AM
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 Colliers | Salt Lake City Millrock
Investment Insights
Based on property information with market context.
This standalone office building includes approximately 3,010 square feet configured with eight private offices, one conference room, and additional support space such as a storage room and breakroom. The layout also provides one private restroom and one public restroom, supporting both internal staff use and customer visits.
The property is positioned along Fort Union Boulevard with excellent access to I-15 and I-215, and it benefits from strong brand and customer visibility with frontage visibility associated with approximately 35,000 vehicles daily. It is described as having flexible use characteristics under mixed-use zoning, and it is also characterized as a standalone office, retail storefront, and medical office building.
As presented, the building is designed for a professional office environment with dedicated rooms for collaboration and meeting needs, while the zoning and mixed-use context support broader long-term flexibility.
The property is positioned along Fort Union Boulevard with excellent access to I-15 and I-215, and it benefits from strong brand and customer visibility with frontage visibility associated with approximately 35,000 vehicles daily. It is described as having flexible use characteristics under mixed-use zoning, and it is also characterized as a standalone office, retail storefront, and medical office building.
As presented, the building is designed for a professional office environment with dedicated rooms for collaboration and meeting needs, while the zoning and mixed-use context support broader long-term flexibility.
Key Highlights
- Standalone office building with +/- 35,000 vehicles/day brand and customer visibility on Fort Union Boulevard
- 3,010 SF layout with 8 private offices, 1 conference room, storage room, and breakroom
- Restroom setup includes 1 private restroom and 1 public restroom
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
$43,642
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
4.96%
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%
$872,840
$872.8K
Cap Rate 7%
$623,457
$623.5K
Cap Rate 9%
$484,911
$484.9K
Market Conditions
NOI Build-Up for 3,010 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
$64.7K $21.48/SF
− Vacancy
−$6.5K −$2.15/SF
EGI
$58.2K $19.33/SF
− OpEx
−$14.5K −$4.83/SF
NOI
$43.6K $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 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%
$872,840
Cap Rate 7%
$623,457
Cap Rate 9%
$484,911
Alternative Uses
Best Use
Office B
$623.5K
$545.5K – $727.4K
NOI $43,642 @ 7.0% cap · market cap 4.96%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$40.08M
$35.07M – $46.76M
NOI $2,805,548 @ 7.0% cap · market cap 319.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
35,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,066
Businesses Nearby
Explore this area
Business Placement
Demographics for 84047, UT
37,146
Population
17,221
Households
2.2
Avg Household Size
33
Median Age
34%
College-Educated
92%
High-School Grad
6.4 sq mi
ZIP Area
5,804
Density / Sq Mi
$73,120
Median Household Income
$43,845
Median Earnings
$1,482
Median Rent
$404,200
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 - Standalone office building offers private offices, conference space, and restrooms with high-visibility frontage.
Where is this office building located?
The property is located at 177 E FORT UNION BLVD E Midvale, UT.
What is the asking price?
The asking price for this property is $879,000.
What are key features of this property?
This property features: Standalone office building with +/- 35,000 vehicles/day brand and customer visibility on Fort Union Boulevard; 3,010 SF layout with 8 private offices, 1 conference room, storage room, and breakroom; Restroom setup includes 1 private restroom and 1 public restroom
