Medical Office with Dental
For Sale
$589,000
201-7478 E South Campus Dr, Salt Lake City, UT 84101
Finished professional suite with clinical infrastructure, private offices, reception space, and elevator access in a maintained office building.
Property Size1,870 SF
Price / SF$314.97
Days on Market8
Property Features for 201-7478 E South Campus Dr
General Information
Standard status
Active
Size
1,870 SF
Elevators
Yes
Additional Details
Highway Access
Yes
Office Units
1
Taxes and HOA fees
Annual Taxes
$4,775
Listing Agency:
Equity Real Estate (NRE)
(801) 680-2282
Listed By:
Ryan Dastrup
(801) 580-2736
Source:
Exprealty
Added: Sep 1
Changed: Sep 8
Last Checked: Sep 8 at 2:30PM
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 Equity Real Estate (NRE)
Investment Insights
Based on property information with market context.
This 1,870-square-foot medical office suite is configured for professional and clinical operations, with a reception and waiting area, laboratory, two private offices, and an open floor plan. Abundant natural light supports the interior, while existing plumbing for multiple dental operatories can accommodate dental, orthodontic, medical, wellness, or other professional office uses. The space was previously occupied by an orthodontic practice.
The suite is located within a professional office building that provides elevator access and on-site parking. Its existing improvements and adaptable configuration support both owner-user occupancy and leasing, with the property available for sale or lease.
The suite is located within a professional office building that provides elevator access and on-site parking. Its existing improvements and adaptable configuration support both owner-user occupancy and leasing, with the property available for sale or lease.
Key Highlights
- 1,870‑square‑foot medical office suite
- Existing plumbing for multiple dental operatories
- Reception and waiting area, laboratory, and two private offices
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
$27,113
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
4.60%
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%
$542,260
$542.3K
Cap Rate 7%
$387,329
$387.3K
Cap Rate 9%
$301,256
$301.3K
Market Conditions
NOI Build-Up for 1,870 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
$40.2K $21.48/SF
− Vacancy
−$4.0K −$2.15/SF
EGI
$36.2K $19.33/SF
− OpEx
−$9.0K −$4.83/SF
NOI
$27.1K $14.50/SF
Area
Salt Lake City, 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%
$542,260
Cap Rate 7%
$387,329
Cap Rate 9%
$301,256
Alternative Uses
Best Use
Office B
$387.3K
$338.9K – $451.9K
NOI $27,113 @ 7.0% cap · market cap 4.60%
Second Best
Healthcare Medical
$377.7K
$330.5K – $440.6K
NOI $26,437 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$503.8K
$440.8K – $587.8K
NOI $35,266 @ 7.0% cap · market cap 5.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,552
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 84101, UT
8,140
Population
5,605
Households
1.5
Avg Household Size
34
Median Age
51%
College-Educated
95%
High-School Grad
1.8 sq mi
ZIP Area
4,522
Density / Sq Mi
$70,391
Median Household Income
$55,238
Median Earnings
$1,336
Median Rent
$541,100
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?
Medical Office Space - Finished professional suite with clinical infrastructure, private offices, reception space, and elevator access in a maintained office building.
Where is this medical office space located?
The property is located at 201-7478 E South Campus Dr Salt Lake City, UT.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: 1,870‑square‑foot medical office suite; Existing plumbing for multiple dental operatories; Reception and waiting area, laboratory, and two private offices
