Office Condo with Private
For Sale
Contact for pricing
2708 S Redwood Rd, West Valley City, UT 84119
Two office condo units totaling 2,048 SF, with new paint and carpet, seven private offices, and two private restrooms.
Property Size2,048 SF
Price / SF$220
Days on Market239
Property Features for 2708 S Redwood Rd
General Information
Standard status
Active
Size
2,048 SF
Property subtype
OFFICE
Listing Agency:
NEXUS Commercial Real Estate
Listed By:
Jason Hagblom · License #10491675
(801) 860-5030
Source:
Moodyscre
Added: Jan 19
Changed: Sep 13
Last Checked: Sep 15 at 11:52AM
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 NEXUS Commercial Real Estate
Investment Insights
Based on property information with market context.
This for-sale office property consists of two condo units totaling 2,048 square feet. Interior improvements include new carpet and fresh paint throughout, supporting a move-in-ready office layout. The space includes seven private offices along with open areas, providing a mix of enclosed rooms and collaborative workspace.
The unit configuration also features two private restrooms, which can support day-to-day office use for multiple occupants or separate business functions.
Offered as a condo setup, the property provides an office-focused plan with dedicated room count for private work and restroom availability within the suite.
The unit configuration also features two private restrooms, which can support day-to-day office use for multiple occupants or separate business functions.
Offered as a condo setup, the property provides an office-focused plan with dedicated room count for private work and restroom availability within the suite.
Key Highlights
- Two office condo units totaling 2,048 SF
- New paint and new carpet throughout
- Seven private offices plus open office 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
$26,874
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
5.96%
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%
$537,480
$537.5K
Cap Rate 7%
$383,914
$383.9K
Cap Rate 9%
$298,600
$298.6K
Market Conditions
NOI Build-Up for 2,048 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
$44.2K $21.60/SF
− Vacancy
−$8.4K −$4.10/SF
EGI
$35.8K $17.50/SF
− OpEx
−$9.0K −$4.37/SF
NOI
$26.9K $13.12/SF
Area
West Valley City, UT
Vacancy
19.00%
Lease Rate
$21.60 /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%
$537,480
Cap Rate 7%
$383,914
Cap Rate 9%
$298,600
Alternative Uses
Best Use
Office B
$383.9K
$335.9K – $447.9K
NOI $26,874 @ 7.0% cap · market cap 5.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$586.3K
$513.0K – $684.0K
NOI $41,042 @ 7.0% cap · market cap 9.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
773
Businesses Nearby
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Business Placement
Demographics for 84119, UT
54,143
Population
16,811
Households
3.2
Avg Household Size
31
Median Age
16%
College-Educated
79%
High-School Grad
11.5 sq mi
ZIP Area
4,708
Density / Sq Mi
$66,616
Median Household Income
$35,676
Median Earnings
$1,418
Median Rent
$341,800
Median Home Value
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office units - Two office condo units totaling 2,048 SF, with new paint and carpet, seven private offices, and two private restrooms.
Where is this office units located?
The property is located at 2708 S Redwood Rd West Valley City, UT.
What is the asking price?
The asking price for this property is $450,560.
What are key features of this property?
This property features: Two office condo units totaling 2,048 SF; New paint and new carpet throughout; Seven private offices plus open office areas
