Renovated Standalone Office
New
For Sale
Contact for pricing
292 E 3900 S, Salt Lake City, UT 84107
Flexible multi-tenant layout offers private offices, open work areas, and separate entrances.
Property Size5,483 SF
Price / SF$401.24
Days on Market7
Property Features for 292 E 3900 S
General Information
Standard status
Active
Size
5,483 SF
Class
C
Property subtype
Office
Zoning
General Commercial
Lease Type
NNN
Investment Type
Owner/User
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Asking Price
$2,200,000
Amenities
reception area
conference room
natural light
private offices
open work areas
break room
separate entrances
individual private restrooms
Building Details
Year Built
1969
Buildings
1
Tenancy
Single
Owner Occupied
Yes
Listing Agency:
Berkshire Hathaway HomeServices Utah Properties
Listed By:
Katie Wilking · License #UT 8339389-SA00
Source:
Crexi
Added: Aug 6
Changed: Aug 11
Last Checked: Aug 11 at 3:49PM
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 Berkshire Hathaway HomeServices Utah Properties
Investment Insights
Based on property information with market context.
This 5,483-square-foot office building was constructed in 1969 and has been renovated for contemporary professional use. The interior includes a reception area, conference room, private offices, open work areas, and a break room, with abundant natural light throughout. Separate entrances and individual private restrooms support a flexible multi-tenant configuration. The property is currently owner-occupied, with the owner prepared to vacate at closing.
Located at 292 E 3900 S in Salt Lake City’s Millcreek area, the building sits along the 3900 S corridor with access to public transit and I-15. On-site parking includes 14 surface spaces and covered parking. General Commercial zoning applies to the property.
Located at 292 E 3900 S in Salt Lake City’s Millcreek area, the building sits along the 3900 S corridor with access to public transit and I-15. On-site parking includes 14 surface spaces and covered parking. General Commercial zoning applies to the property.
Key Highlights
- 5,483 SF standalone office building on 3900 S
- Renovated interior with reception area, conference room, private offices, and open work areas
- Flexible multi‑tenant layout with separate entrances and individual private restrooms
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
$79,498
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
3.61%
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%
$1,589,960
$1.6M
Cap Rate 7%
$1,135,686
$1.1M
Cap Rate 9%
$883,311
$883.3K
Market Conditions
NOI Build-Up for 5,483 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
$117.8K $21.48/SF
− Vacancy
−$11.8K −$2.15/SF
EGI
$106.0K $19.33/SF
− OpEx
−$26.5K −$4.83/SF
NOI
$79.5K $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 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%
$1,589,960
Cap Rate 7%
$1,135,686
Cap Rate 9%
$883,311
Alternative Uses
Best Use
Office B
$1.14M
$993.7K – $1.32M
NOI $79,498 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.48M
$1.29M – $1.72M
NOI $103,404 @ 7.0% cap · market cap 4.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
766
Businesses Nearby
Explore this area
Business Placement
Demographics for 84107, UT
37,713
Population
17,287
Households
2.2
Avg Household Size
34
Median Age
38%
College-Educated
93%
High-School Grad
7.5 sq mi
ZIP Area
5,028
Density / Sq Mi
$73,469
Median Household Income
$46,098
Median Earnings
$1,387
Median Rent
$426,000
Median Home Value
Market
Vacancy Rate% for Office in Salt Lake City, UT
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Flexible multi-tenant layout offers private offices, open work areas, and separate entrances.
Where is this office building located?
The property is located at 292 E 3900 S Salt Lake City, UT.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 5,483 SF standalone office building on 3900 S; Renovated interior with reception area, conference room, private offices, and open work areas; Flexible multi‑tenant layout with separate entrances and individual private restrooms
