Standalone Single-Story Office
For Sale
$588,800
1975 W 3500 S, West Valley City, UT 84119
Single-story standalone office building with frontage, eight on-site parking stalls, and functional single-tenant layout.
Property Size2,560 SF
Lot Size0.15 Acres
Price / SF$230
Days on Market53
Property Features for 1975 W 3500 S
General Information
Standard status
Active
Size
2,560 SF
Total Parking Spaces
8
Lot size
0.15 Acres
Zoning
C-2
Site & Location
Traffic Count
36,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$5,472
Amenities
abundant natural light
prominent signage opportunities
Building Details
Stories
1
Tenancy
Single
Listing Agency:
KW Utah Realtors Keller Williams (Brickyard)
(801) 326-8800
Listed By:
Shad Selmos · License #9241614SA00
(801) 907-1888
Source:
Exprealty
Added: Jul 15
Changed: Sep 4
Last Checked: Sep 5 at 3:16PM
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 KW Utah Realtors Keller Williams (Brickyard)
Investment Insights
Based on property information with market context.
Position your business in the Salt Lake Valley with this highly visible standalone office building located directly on 3500 South in West Valley City. The property offers approximately 2,560 square feet on a 0.15-acre parcel and is configured as a well-maintained, single-tenant single-story building with abundant natural light. Dedicated parking, functional interior layout, and signage opportunities are supported by strong street presence.
The building benefits from convenient access to I-215, I-15, and Salt Lake City International Airport. It is described as having approximately 36,000 vehicles per day along 3500 South, with eight on-site parking stalls serving occupants and visitors. The property is located in the Central Valley West submarket and is zoned C-2, allowing for a variety of office, professional service, and commercial uses. Square footage figures are provided as a courtesy estimate only and were obtained from County Records; buyers are advised to obtain an independent measurement.
The building benefits from convenient access to I-215, I-15, and Salt Lake City International Airport. It is described as having approximately 36,000 vehicles per day along 3500 South, with eight on-site parking stalls serving occupants and visitors. The property is located in the Central Valley West submarket and is zoned C-2, allowing for a variety of office, professional service, and commercial uses. Square footage figures are provided as a courtesy estimate only and were obtained from County Records; buyers are advised to obtain an independent measurement.
Key Highlights
- Highly visible standalone office building directly on 3500 South in the Central Valley West submarket
- Approx. 2,560 SF single‑story, single‑tenant office building on a 0.15‑acre parcel (courtesy estimate from county records)
- 8 on‑site parking stalls with dedicated parking for tenants and visitors
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
$33,592
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
5.71%
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%
$671,840
$671.8K
Cap Rate 7%
$479,886
$479.9K
Cap Rate 9%
$373,244
$373.2K
Market Conditions
NOI Build-Up for 2,560 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
$55.3K $21.60/SF
− Vacancy
−$10.5K −$4.10/SF
EGI
$44.8K $17.50/SF
− OpEx
−$11.2K −$4.37/SF
NOI
$33.6K $13.12/SF
Area
West Valley City, UT
Vacancy
19.00%
Lease Rate
$21.60 /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%
$671,840
Cap Rate 7%
$479,886
Cap Rate 9%
$373,244
Alternative Uses
Best Use
Office B
$479.9K
$419.9K – $559.9K
NOI $33,592 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$732.9K
$641.3K – $855.0K
NOI $51,302 @ 7.0% cap · market cap 8.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
36,000 VPD
Traffic count
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
961
Businesses Nearby
Explore this area
Business Placement
Demographics for 84119, UT
54,143
Population
16,811
Households
3.2
Avg Household Size
31
Median Age
16%
College-Educated
79%
High-School Grad
11.5 sq mi
ZIP Area
4,708
Density / Sq Mi
$66,616
Median Household Income
$35,676
Median Earnings
$1,418
Median Rent
$341,800
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 - Single-story standalone office building with frontage, eight on-site parking stalls, and functional single-tenant layout.
Where is this office building located?
The property is located at 1975 W 3500 S West Valley City, UT.
What is the asking price?
The asking price for this property is $588,800.
What are key features of this property?
This property features: Highly visible standalone office building directly on 3500 South in the Central Valley West submarket; Approx. 2,560 SF single‑story, single‑tenant office building on a 0.15‑acre parcel (courtesy estimate from county records); 8 on‑site parking stalls with dedicated parking for tenants and visitors
