Medical Office Building with Treatment
For Sale
Contact for pricing
2450 East Fort Union Boulevard, Cottonwood Heights, UT 84121
Licensed behavioral health facility with counseling rooms, administrative offices, and established healthcare infrastructure.
Property Size13,944 SF
Price / SF$229.49
Days on Market13
Property Features for 2450 East Fort Union Boulevard
General Information
Standard status
Active
Size
13,944 SF
Class
B
Total Parking Spaces
31
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Buildings
1
Listing Agency:
Real Estate Essentials Commercial
Listed By:
Tony Zambrano · License #5453797
Source:
Crexi
Added: Aug 18
Changed: Aug 29
Last Checked: Aug 29 at 10:45AM
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 Real Estate Essentials Commercial
Investment Insights
Based on property information with market context.
This 13,944-square-foot medical office property is currently operating as a licensed Behavioral Health and Day Treatment/Substance Abuse facility with approved capacity for 28 clients. The interior includes reception, administrative offices, multiple counseling and group therapy rooms, treatment-room areas, and a healthcare-oriented layout. The property also provides 31 dedicated on-site parking spaces.
Located at 2450 East Fort Union Boulevard in Cottonwood Heights, the building sits on Fort Union Blvd with access to I-215 and the greater Salt Lake Valley. The surrounding area includes medical offices, professional services, and retail. The existing configuration is identified for behavioral health, IOP/PHP, mental health counseling, substance abuse treatment, psychiatric services, medical or wellness clinics, and general office use.
Located at 2450 East Fort Union Boulevard in Cottonwood Heights, the building sits on Fort Union Blvd with access to I-215 and the greater Salt Lake Valley. The surrounding area includes medical offices, professional services, and retail. The existing configuration is identified for behavioral health, IOP/PHP, mental health counseling, substance abuse treatment, psychiatric services, medical or wellness clinics, and general office use.
Key Highlights
- 13,944‑square‑foot medical office property
- Currently operating as a licensed Behavioral Health and Day Treatment/Substance Abuse facility
- Approved capacity for 28 clients
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
$202,174
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
6.32%
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%
$4,043,480
$4.0M
Cap Rate 7%
$2,888,200
$2.9M
Cap Rate 9%
$2,246,378
$2.2M
Market Conditions
NOI Build-Up for 13,944 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
$299.5K $21.48/SF
− Vacancy
−$30.0K −$2.15/SF
EGI
$269.6K $19.33/SF
− OpEx
−$67.4K −$4.83/SF
NOI
$202.2K $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%
$4,043,480
Cap Rate 7%
$2,888,200
Cap Rate 9%
$2,246,378
Alternative Uses
Best Use
Office B
$2.89M
$2.53M – $3.37M
NOI $202,174 @ 7.0% cap · market cap 6.32%
Second Best
Healthcare Medical
$2.38M
$2.09M – $2.78M
NOI $166,859 @ 7.0% cap · market cap 5.21%
Theoretical Best
Multifamily LT 5
$185.67M
$162.46M – $216.61M
NOI $12,996,865 @ 7.0% cap · market cap 406.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
452
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 84121, UT
41,628
Population
16,669
Households
2.5
Avg Household Size
40
Median Age
52%
College-Educated
97%
High-School Grad
64.5 sq mi
ZIP Area
645
Density / Sq Mi
$114,912
Median Household Income
$56,990
Median Earnings
$1,732
Median Rent
$614,500
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Hillside Veterinary Hospital — 7054 S 2300 E, Salt Lake City, UT 84121
- Veterinary Orthopedic Services — 7054 S 2300 E, Cottonwood Heights, UT 84121
- Granite Veterinary Specialists — 7054 S 2300 E, Cottonwood Heights, UT 84121
- ParaDefense — 2825 E Cottonwood Pkwy, Salt Lake City, UT 84121
Frequently Asked Questions
What type of property is this?
Medical Office Space - Licensed behavioral health facility with counseling rooms, administrative offices, and established healthcare infrastructure.
Where is this medical office space located?
The property is located at 2450 East Fort Union Boulevard Cottonwood Heights, UT.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: 13,944‑square‑foot medical office property; Currently operating as a licensed Behavioral Health and Day Treatment/Substance Abuse facility; Approved capacity for 28 clients
