Office Building with Covered
For Sale
$860,000
214 E 4500 S, Murray, UT 84107
Three offices, an open reception area, two bathrooms, and a basement kitchen support a flexible office layout.
Property Size1,710 SF
Lot Size0.33 Acres
Days on Market58
Property Features for 214 E 4500 S
General Information
Standard status
Active
Size
1,710 SF
Total Parking Spaces
6
Lot size
0.33 Acres
Property subtype
Retail
Zoning
General Office
Space & Availability
Floor
Main Floor
Furnished
Yes
Amenities
open reception area
full kitchen
Building Details
Building Size
1,710 SF
Year Built
1926
Listing Agency:
Mc Dougal & Associates Realtors, LLC
Listed By:
Curtis McDougal
(801) 580-4361
Source:
Liftrealty
Added: Jul 31
Changed: Sep 24
Last Checked: Sep 24 at 9:54AM
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 Mc Dougal & Associates Realtors, LLC
Investment Insights
Based on property information with market context.
Built in 1926, this office building includes three offices on the main floor, an open reception area, and two bathrooms. The property is designated for general office use and includes a basement with a full kitchen that requires updating for use. Furniture can remain with the property if desired.
The site includes parking and storage areas along with 6 covered stalls. A 1/3 lot provides additional outdoor space for business operations. The property information also identifies possible rezoning to a Commercial CD- zone, subject to applicable approvals.
The site includes parking and storage areas along with 6 covered stalls. A 1/3 lot provides additional outdoor space for business operations. The property information also identifies possible rezoning to a Commercial CD- zone, subject to applicable approvals.
Key Highlights
- 1926 office building with three main‑floor offices and an open reception area
- General office zoning supports the current office configuration
- 6 covered stalls plus additional parking and storage areas
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
$24,793
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
2.88%
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%
$495,860
$495.9K
Cap Rate 7%
$354,186
$354.2K
Cap Rate 9%
$275,478
$275.5K
Market Conditions
NOI Build-Up for 1,710 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
$36.7K $21.48/SF
− Vacancy
−$3.7K −$2.15/SF
EGI
$33.1K $19.33/SF
− OpEx
−$8.3K −$4.83/SF
NOI
$24.8K $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%
$495,860
Cap Rate 7%
$354,186
Cap Rate 9%
$275,478
Alternative Uses
Best Use
Office B
$354.2K
$309.9K – $413.2K
NOI $24,793 @ 7.0% cap · market cap 2.88%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$22.77M
$19.92M – $26.56M
NOI $1,593,850 @ 7.0% cap · market cap 185.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,228
Businesses Nearby
Explore this area
Business Placement
Demographics for 84107, UT
37,713
Population
17,287
Households
2.2
Avg Household Size
34
Median Age
38%
College-Educated
93%
High-School Grad
7.5 sq mi
ZIP Area
5,028
Density / Sq Mi
$73,469
Median Household Income
$46,098
Median Earnings
$1,387
Median Rent
$426,000
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 - Three offices, an open reception area, two bathrooms, and a basement kitchen support a flexible office layout.
Where is this office building located?
The property is located at 214 E 4500 S Murray, UT.
What is the asking price?
The asking price for this property is $860,000.
What are key features of this property?
This property features: 1926 office building with three main‑floor offices and an open reception area; General office zoning supports the current office configuration; 6 covered stalls plus additional parking and storage areas
