Single-Tenant NNN
For Sale
Contact for pricing
3010-3020 S West Temple South, Salt Lake City, UT 84115
Fully leased to SameDay under a NNN structure with limited landlord responsibilities.
Property Size36,834 SF
Price / SF$228.57
Days on Market9
Property Features for 3010-3020 S West Temple South
General Information
Standard status
Active
Size
36,834 SF
Class
A
Property subtype
Industrial
Zoning
CB
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$530,410
Building Details
Year Built
2007
Buildings
1
Stories
2
Tenancy
Single
Building Size
36,834 SF
Listing Agency:
Marcus & Millichap
(954) 547-7212
Listed By:
Quinn Callahan · License #UT 14197294-SA00
Source:
Crexi
Added: Jul 30
Changed: Aug 3
Last Checked: Aug 6 at 4:47AM
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
This single-tenant commercial asset contains ±36,834 square feet and was completed in 2007. The property is leased in its entirety to Intermountain Home Services, LLC, operating as SameDay Heating & Air, Plumbing, and Electrical. The lease is structured as NNN, leaving limited landlord responsibilities under the stated terms.
Approximately five years of firm lease term remain following a recent extension. Contractual rental increases are set at 3.5% annually, and the property carries CB zoning. The asset is located in South Salt Lake City, Utah, at 3010-3020 S West Temple.
Approximately five years of firm lease term remain following a recent extension. Contractual rental increases are set at 3.5% annually, and the property carries CB zoning. The asset is located in South Salt Lake City, Utah, at 3010-3020 S West Temple.
Key Highlights
- ±36,834 square feet of commercial space
- 100% leased to Intermountain Home Services, LLC d/b/a SameDay Heating & Air, Plumbing, and Electrical
- NNN lease with approximately five years of firm term remaining
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
$241,655
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
2.87%
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%
$4,833,100
$4.8M
Cap Rate 7%
$3,452,214
$3.5M
Cap Rate 9%
$2,685,056
$2.7M
Market Conditions
NOI Build-Up for 36,834 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
$366.9K $9.96/SF
− Vacancy
−$21.6K −$0.59/SF
EGI
$345.2K $9.37/SF
− OpEx
−$103.6K −$2.81/SF
NOI
$241.7K $6.56/SF
Area
Salt Lake City, UT
Vacancy
5.90%
Lease Rate
$9.96 /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%
$4,833,100
Cap Rate 7%
$3,452,214
Cap Rate 9%
$2,685,056
Alternative Uses
Best Use
Industrial
$3.45M
$3.02M – $4.03M
NOI $241,655 @ 7.0% cap · market cap 2.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.92M
$8.68M – $11.58M
NOI $694,653 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,813
Businesses Nearby
Explore this area
Business Placement
Demographics for 84115, UT
27,588
Population
13,899
Households
2
Avg Household Size
33
Median Age
33%
College-Educated
85%
High-School Grad
6.1 sq mi
ZIP Area
4,523
Density / Sq Mi
$61,505
Median Household Income
$43,785
Median Earnings
$1,263
Median Rent
$396,200
Median Home Value
Market
Vacancy Rate% for Industrial in Salt Lake City, UT
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Fully leased to SameDay under a NNN structure with limited landlord responsibilities.
Where is this nnn property located?
The property is located at 3010-3020 S West Temple South Salt Lake City, UT.
What is the asking price?
The asking price for this property is $8,419,000.
What are key features of this property?
This property features: ±36,834 square feet of commercial space; 100% leased to Intermountain Home Services, LLC d/b/a SameDay Heating & Air, Plumbing, and Electrical; NNN lease with approximately five years of firm term remaining
