Ground-Floor Office
For Sale
Contact for pricing
276 E 12200 S, Draper, UT 84020
Ground-floor office condo with three private offices, a break room, and an open work area, plus ample on-site parking.
Property Size2,160 SF
Price / SF$300
Days on Market152
Property Features for 276 E 12200 S
General Information
Standard status
Active
Size
2,160 SF
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Listing Agency:
Colliers | Utah County
(801) 610-1300
Listed By:
David Heninger
(801) 666-4260
Source:
Moodyscre
Added: Apr 16
Changed: Sep 12
Last Checked: Sep 13 at 11:30AM
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 Colliers | Utah County
Investment Insights
Based on property information with market context.
This 2,160 SF ground-floor office condo offers a practical mix of private and flexible workspace. The layout includes three private offices, a break room, and an open work area that can support a variety of configurations.
The property is approximately 10.56 miles to I-15 and is directly across from the Draper Post Office. Ample on-site parking is provided for convenient access.
As a ground-level condo unit, it is well suited for office use where efficient day-to-day access and a clear interior mix of rooms and open work space are priorities.
The property is approximately 10.56 miles to I-15 and is directly across from the Draper Post Office. Ample on-site parking is provided for convenient access.
As a ground-level condo unit, it is well suited for office use where efficient day-to-day access and a clear interior mix of rooms and open work space are priorities.
Key Highlights
- 2,160 SF ground‑floor office condo
- Layout includes 3 private offices, a break room, and an open work area
- Just 0.56 miles to I‑15
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
$31,318
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
4.83%
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%
$626,360
$626.4K
Cap Rate 7%
$447,400
$447.4K
Cap Rate 9%
$347,978
$348.0K
Market Conditions
NOI Build-Up for 2,160 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
$46.4K $21.48/SF
− Vacancy
−$4.6K −$2.15/SF
EGI
$41.8K $19.33/SF
− OpEx
−$10.4K −$4.83/SF
NOI
$31.3K $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%
$626,360
Cap Rate 7%
$447,400
Cap Rate 9%
$347,978
Alternative Uses
Best Use
Office B
$447.4K
$391.5K – $522.0K
NOI $31,318 @ 7.0% cap · market cap 4.83%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$28.76M
$25.17M – $33.55M
NOI $2,013,284 @ 7.0% cap · market cap 310.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,357
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Ground-floor office condo with three private offices, a break room, and an open work area, plus ample on-site parking.
Where is this office units located?
The property is located at 276 E 12200 S Draper, UT.
What is the asking price?
The asking price for this property is $648,000.
What are key features of this property?
This property features: 2,160 SF ground‑floor office condo; Layout includes 3 private offices, a break room, and an open work area; Just 0.56 miles to I‑15
