Mixed-Use Office Building and
For Sale
$1,495,000
24 S 600 E, Salt Lake City, UT 84102
Seven-unit office building with ample off-street parking and six garages on a double-size lot.
Property Size5,640 SF
Lot Size0.30 Acres
Days on Market145
Property Features for 24 S 600 E
General Information
Standard status
Active
Size
5,640 SF
Lot size
0.30 Acres
Property subtype
Office
Zoning
MU-6
Site & Location
Neighborhood
Preserve Our Avenues
Additional Details
Office Units
7
Taxes and HOA fees
Annual Taxes
$8,942
Building Details
Building Size
5,640 SF
Year Built
1893
Tenancy
Multi
Listing Agency:
Summit Sotheby's International Realty
Listed By:
Mitchell Finlinson
(435) 513-2555
Source:
Acresutah
Added: Jun 2
Changed: Oct 20
Last Checked: Oct 23 at 3:58PM
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 Summit Sotheby's International Realty
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Investment Insights
Based on property information with market context.
Newport Square is a seven-unit property featuring six office units that were converted from apartment units over twenty years ago, plus an additional office suite added on the top level. The owner occupies the top-level office and six garages, which may be leased for additional revenue. All tenants are on long-term, month-to-month leases.
The property is located in Salt Lake City’s Central City and South Temple neighborhoods, just blocks from downtown. It sits on a double-size 0.30-acre lot with ample off-street parking and was recently rezoned to MU-6 mixed-use.
The site configuration includes the office building and six garages alongside the available parking, providing flexibility for office occupancy and potential supplemental garage leasing.
The property is located in Salt Lake City’s Central City and South Temple neighborhoods, just blocks from downtown. It sits on a double-size 0.30-acre lot with ample off-street parking and was recently rezoned to MU-6 mixed-use.
The site configuration includes the office building and six garages alongside the available parking, providing flexibility for office occupancy and potential supplemental garage leasing.
Key Highlights
- Seven‑unit building in Salt Lake’s Central City/South Temple neighborhoods, blocks from downtown
- Six apartment units converted to private offices over 20 years ago; seventh office suite added on the top level
- All tenants are long‑term on month‑to‑month leases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$81,774
Cap Rate
5.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,635,480
$1.6M
Cap Rate 7%
$1,168,200
$1.2M
Cap Rate 9%
$908,600
$908.6K
Market Conditions
NOI Build-Up for 5,640 SF
Gross rent
$121.1K $21.48/SF
− Vacancy
−$12.1K −$2.15/SF
EGI
$109.0K $19.33/SF
− OpEx
−$27.3K −$4.83/SF
NOI
$81.8K $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 Rate 5%
$1,635,480
Cap Rate 7%
$1,168,200
Cap Rate 9%
$908,600
Alternative Uses
Best Use
Office B
$1.17M
$1.02M – $1.36M
NOI $81,774 @ 7.0% cap · market cap 5.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,365 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
7
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,047
Businesses Nearby
Explore this area
Business Placement
Demographics for 84102, UT
18,857
Population
11,348
Households
1.7
Avg Household Size
29
Median Age
56%
College-Educated
94%
High-School Grad
1.9 sq mi
ZIP Area
9,925
Density / Sq Mi
$50,040
Median Household Income
$32,432
Median Earnings
$1,305
Median Rent
$487,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Salt Lake City, UT
Frequently Asked Questions
What type of property is this?
Office building - Seven-unit office building with ample off-street parking and six garages on a double-size lot.
Where is this office building located?
The property is located at 24 S 600 E Salt Lake City, UT.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Seven‑unit building in Salt Lake’s Central City/South Temple neighborhoods, blocks from downtown; Six apartment units converted to private offices over 20 years ago; seventh office suite added on the top level; All tenants are long‑term on month‑to‑month leases
