Standalone Mixed-Use Office
For Sale
$475,000
1872 S MAIN ST, Salt Lake City, UT 84115
Converted commercial property with reception, conference, restroom, and kitchenette areas.
Property Size2,051 SF
Price / SF$231.59
Days on Market14
Property Features for 1872 S MAIN ST
General Information
Standard status
Active
Size
2,051 SF
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
2,051 SF
Year Built
1923
Listing Agency:
REALTY OF AMERICA LLC
(801) 382-9354
Listed By:
Jose Ruiz
(801) 382-9354
Source:
Liftrealty
Added: Jul 29
Changed: Aug 11
Last Checked: Aug 11 at 6:47AM
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 REALTY OF AMERICA LLC
Investment Insights
Based on property information with market context.
This standalone office building contains 2,051 square feet and was converted from residential use into a mixed-use office and store property. The interior includes a reception area, conference room, restroom, and kitchenette or break area. Built in 1923, the property offers a compact configuration for professional or commercial occupancy.
The building is located on Main Street in Salt Lake City, with access to I-15, I-80, Downtown Salt Lake City, and surrounding business districts. Its central setting places the property within an established commercial corridor and supports convenient connections throughout the area.
The building is located on Main Street in Salt Lake City, with access to I-15, I-80, Downtown Salt Lake City, and surrounding business districts. Its central setting places the property within an established commercial corridor and supports convenient connections throughout the area.
Key Highlights
- 2,051‑square‑foot standalone office building
- Converted from residential use to mixed‑use office/store space
- Interior includes reception area, conference room, restroom, and kitchenette/break area
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
$30,645
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
6.45%
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%
$612,900
$612.9K
Cap Rate 7%
$437,786
$437.8K
Cap Rate 9%
$340,500
$340.5K
Market Conditions
NOI Build-Up for 2,051 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
$45.0K $21.96/SF
− Vacancy
−$1.3K −$0.61/SF
EGI
$43.8K $21.35/SF
− OpEx
−$13.1K −$6.40/SF
NOI
$30.6K $14.94/SF
Area
Salt Lake City, UT
Vacancy
2.80%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
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%
$612,900
Cap Rate 7%
$437,786
Cap Rate 9%
$340,500
Alternative Uses
Best Use
Retail
$437.8K
$383.1K – $510.8K
NOI $30,645 @ 7.0% cap · market cap 6.45%
Second Best
Office B
$424.8K
$371.7K – $495.6K
NOI $29,737 @ 7.0% cap · market cap 6.26%
Theoretical Best
Office A
$552.6K
$483.5K – $644.7K
NOI $38,680 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,692
Businesses Nearby
Explore this area
Business Placement
Demographics for 84115, UT
27,588
Population
13,899
Households
2
Avg Household Size
33
Median Age
33%
College-Educated
85%
High-School Grad
6.1 sq mi
ZIP Area
4,523
Density / Sq Mi
$61,505
Median Household Income
$43,785
Median Earnings
$1,263
Median Rent
$396,200
Median Home Value
Market
Vacancy Rate% for Office in Salt Lake City, UT
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Converted commercial property with reception, conference, restroom, and kitchenette areas.
Where is this office building located?
The property is located at 1872 S MAIN ST Salt Lake City, UT.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 2,051‑square‑foot standalone office building; Converted from residential use to mixed‑use office/store space; Interior includes reception area, conference room, restroom, and kitchenette/break area
