Ground-Level Office
For Sale
$800,000
3-248 E 13800 S, Draper, UT 84020
Flexible room layout supports medical, salon, and professional office operations.
Property Size2,000 SF
Price / SF$400
Days on Market190
Property Features for 3-248 E 13800 S
General Information
Standard status
Active
Size
2,000 SF
Additional Details
Floor
Ground
Highway Access
Yes
Office Units
1
Taxes and HOA fees
Annual Taxes
$5,522
Listing Agency:
Windermere Real Estate (Draper)
(801) 347-1401
Listed By:
Scott Steadman
(801) 347-1401
Source:
Exprealty
Added: Feb 6
Changed: Aug 15
Last Checked: Aug 15 at 5:59AM
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 (Draper)
Investment Insights
Based on property information with market context.
This 2,000 SF office unit occupies the ground level at Rockwell Square and provides a room-intensive layout for a range of professional operations. The interior includes nine private rooms, a conference room, a separate private office, breakroom, and storage areas. Dedicated parking is also included.
The property is in Draper, less than one mile from I-15 and minutes from Bangerter Highway. Its position provides access toward both Salt Lake and Utah counties, with the surrounding corridor seeing steady daily traffic. The configuration is suited to medical, dental, aesthetics, salon suite, and professional office uses.
The property is in Draper, less than one mile from I-15 and minutes from Bangerter Highway. Its position provides access toward both Salt Lake and Utah counties, with the surrounding corridor seeing steady daily traffic. The configuration is suited to medical, dental, aesthetics, salon suite, and professional office uses.
Key Highlights
- 2,000 SF ground‑floor office unit in Rockwell Square
- Nine private rooms plus a conference room and separate private office
- Breakroom and storage areas included
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
$28,998
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
3.62%
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%
$579,960
$580.0K
Cap Rate 7%
$414,257
$414.3K
Cap Rate 9%
$322,200
$322.2K
Market Conditions
NOI Build-Up for 2,000 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
$43.0K $21.48/SF
− Vacancy
−$4.3K −$2.15/SF
EGI
$38.7K $19.33/SF
− OpEx
−$9.7K −$4.83/SF
NOI
$29.0K $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%
$579,960
Cap Rate 7%
$414,257
Cap Rate 9%
$322,200
Alternative Uses
Best Use
Office B
$414.3K
$362.5K – $483.3K
NOI $28,998 @ 7.0% cap · market cap 3.62%
Second Best
Healthcare Medical
$341.9K
$299.2K – $398.9K
NOI $23,933 @ 7.0% cap · market cap 2.99%
Theoretical Best
Multifamily LT 5
$26.63M
$23.30M – $31.07M
NOI $1,864,152 @ 7.0% cap · market cap 233.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
815
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 - Flexible room layout supports medical, salon, and professional office operations.
Where is this office units located?
The property is located at 3-248 E 13800 S Draper, UT.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 2,000 SF ground‑floor office unit in Rockwell Square; Nine private rooms plus a conference room and separate private office; Breakroom and storage areas included
