Office Condo with Private
For Sale
Contact for pricing
248 East 13800 South, Draper, UT 84020
Well-located office condo with ground-level access and a professional buildout including a private restroom and break room.
Property Size1,964 SF
Price / SF$356.42
Days on Market131
Property Features for 248 East 13800 South
General Information
Standard status
Active
Size
1,964 SF
Class
B
Property subtype
Retail, Office, Mixed Use
Investment Type
Owner/User
Additional Details
Highway Access
Yes
Amenities
private restroom
break room
kitchen
Building Details
Stories
4
Tenancy
Single
Listing Agency:
Windermere Real Estate
Listed By:
Max Strayer · License #UT 11622543-SA00
Source:
Crexi
Added: Apr 28
Changed: Aug 31
Last Checked: Sep 4 at 5:44AM
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 Windermere Real Estate
Investment Insights
Based on property information with market context.
This office condo is offered for sale within the Rockwell Square development. The space totals 1,964 SF and features a clean, professional buildout with a private restroom, break room, and kitchen. The layout also provides easy ground-level access.
Located at 248 East 13800 South in Draper, the property is described as having strong traffic counts and quick access to major corridors. It is positioned for convenient customer and employee access within the development.
For buyers evaluating either an owner-user setup or an investment approach, the condo offers a low-maintenance commercial format with in-unit improvements already in place.
Located at 248 East 13800 South in Draper, the property is described as having strong traffic counts and quick access to major corridors. It is positioned for convenient customer and employee access within the development.
For buyers evaluating either an owner-user setup or an investment approach, the condo offers a low-maintenance commercial format with in-unit improvements already in place.
Key Highlights
- 1,964 SF office condo in the Rockwell Square development
- Ground‑level access for easy client entry
- Clean professional buildout with private restroom, break room, and kitchen
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
$28,476
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
4.07%
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%
$569,520
$569.5K
Cap Rate 7%
$406,800
$406.8K
Cap Rate 9%
$316,400
$316.4K
Market Conditions
NOI Build-Up for 1,964 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
$42.2K $21.48/SF
− Vacancy
−$4.2K −$2.15/SF
EGI
$38.0K $19.33/SF
− OpEx
−$9.5K −$4.83/SF
NOI
$28.5K $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%
$569,520
Cap Rate 7%
$406,800
Cap Rate 9%
$316,400
Alternative Uses
Best Use
Office B
$406.8K
$356.0K – $474.6K
NOI $28,476 @ 7.0% cap · market cap 4.07%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$26.15M
$22.88M – $30.51M
NOI $1,830,597 @ 7.0% cap · market cap 261.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
615
Businesses Nearby
Explore this area
Business Placement
Demographics for 84020, UT
51,017
Population
16,865
Households
3
Avg Household Size
34
Median Age
51%
College-Educated
97%
High-School Grad
27.2 sq mi
ZIP Area
1,876
Density / Sq Mi
$130,680
Median Household Income
$55,377
Median Earnings
$1,812
Median Rent
$726,000
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 units - Well-located office condo with ground-level access and a professional buildout including a private restroom and break room.
Where is this office units located?
The property is located at 248 East 13800 South Draper, UT.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 1,964 SF office condo in the Rockwell Square development; Ground‑level access for easy client entry; Clean professional buildout with private restroom, break room, and kitchen
