New Fully Leased
For Sale
$799,000
294 E 600 N, Tooele, UT 84074
Two-unit residential property completed in 2025 with both residences occupied.
Property Size5,090 SF
Price / SF$156.97
Days on Market495
Property Features for 294 E 600 N
General Information
Standard status
Active
Size
5,090 SF
Property subtype
Multi Family
Occupancy
100%
Additional Details
Average Monthly Rent
$2,000
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,394
Building Details
Year Built
2025
Buildings
1
Listing Agency:
AMERITRUE REAL ESTATE & MANAGEMENT PLLC
(801) 602-6933
Listed By:
Pete Mittanck · License #5229451
(801) 602-6933
Source:
Exitrealty
Added: Apr 25, 2025
Changed: Aug 31
Last Checked: Aug 31 at 5:38PM
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 AMERITRUE REAL ESTATE & MANAGEMENT PLLC
Investment Insights
Based on property information with market context.
This duplex contains two residential units within a 5,090-square-foot property completed in 2025. Both units are currently leased, providing an existing occupancy profile for a residential income property buyer.
The property is located at 294 E 600 N in Tooele, Utah. The community includes three identical duplexes, and the units are described as matching in layout and design.
The property is located at 294 E 600 N in Tooele, Utah. The community includes three identical duplexes, and the units are described as matching in layout and design.
Key Highlights
- Two‑unit duplex completed in 2025
- Both residences are currently leased
- 5,090‑square‑foot property
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
$55,123
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
6.90%
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%
$1,102,460
$1.1M
Cap Rate 7%
$787,471
$787.5K
Cap Rate 9%
$612,478
$612.5K
Market Conditions
NOI Build-Up for 5,090 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
$82.5K $16.20/SF
− Vacancy
−$3.7K −$0.73/SF
EGI
$78.7K $15.47/SF
− OpEx
−$23.6K −$4.64/SF
NOI
$55.1K $10.83/SF
Area
Tooele County, UT
Vacancy
4.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$1,102,460
Cap Rate 7%
$787,471
Cap Rate 9%
$612,478
Alternative Uses
Best Use
Multifamily LT 5
$787.5K
$689.0K – $918.7K
NOI $55,123 @ 7.0% cap · market cap 6.90%
Second Best
Apartment 5plus
$710.8K
$621.9K – $829.2K
NOI $49,754 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $95,992 @ 7.0% cap · market cap 12.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
465
Businesses Nearby
Explore this area
Business Placement
Demographics for 84074, UT
55,001
Population
18,128
Households
3
Avg Household Size
31
Median Age
24%
College-Educated
93%
High-School Grad
174.3 sq mi
ZIP Area
316
Density / Sq Mi
$102,313
Median Household Income
$47,385
Median Earnings
$1,197
Median Rent
$383,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property completed in 2025 with both residences occupied.
Where is this duplex located?
The property is located at 294 E 600 N Tooele, UT.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two‑unit duplex completed in 2025; Both residences are currently leased; 5,090‑square‑foot property
