Two-Level Office
For Sale
Contact for pricing
326 S 500 E, Salt Lake City, UT 84101
MU-8-zoned property with private offices, meeting space, kitchen, break room, and open work areas.
Property Size11,428 SF
Price / SF$262.51
Days on Market16
Property Features for 326 S 500 E
General Information
Standard status
Active
Size
11,428 SF
Total Parking Spaces
25
Property subtype
Office, Special Purpose
Zoning
MU-8
Investment Type
Owner/User
Building Details
Year Built
1956
Buildings
1
Stories
1
Units
1
Listing Agency:
Newmark Mountain West
Listed By:
Josh Vance, CCIM · License #UT 5498417-SA00
(801) 456-8800
Source:
Crexi
Added: Aug 18
Changed: Sep 1
Last Checked: Sep 1 at 9:17PM
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 Newmark Mountain West
Investment Insights
Based on property information with market context.
This two-level office property contains approximately 11,428 SF, divided evenly between a 5,714 SF main level and a 5,714 SF lower level. The interior includes private offices, a conference room, kitchen, break room, and large open work areas that support a range of professional layouts. The building was constructed in 1956 and includes on-site parking for 25 vehicles, with seven covered spaces.
Located at 326 S 500 E in Salt Lake City, the property sits within an established urban corridor near a substantial residential population and nearby thoroughfares. The MU-8 zoning designation and flexible floor plan provide a practical setting for office operations, ownership use, or future repositioning.
Located at 326 S 500 E in Salt Lake City, the property sits within an established urban corridor near a substantial residential population and nearby thoroughfares. The MU-8 zoning designation and flexible floor plan provide a practical setting for office operations, ownership use, or future repositioning.
Key Highlights
- Approximately 11,428 SF across two levels
- 5,714 SF main level and 5,714 SF lower level
- 25 on‑site parking stalls, including seven covered spaces
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
$165,695
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
5.52%
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%
$3,313,900
$3.3M
Cap Rate 7%
$2,367,071
$2.4M
Cap Rate 9%
$1,841,056
$1.8M
Market Conditions
NOI Build-Up for 11,428 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
$245.5K $21.48/SF
− Vacancy
−$24.5K −$2.15/SF
EGI
$220.9K $19.33/SF
− OpEx
−$55.2K −$4.83/SF
NOI
$165.7K $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%
$3,313,900
Cap Rate 7%
$2,367,071
Cap Rate 9%
$1,841,056
Alternative Uses
Best Use
Office B
$2.37M
$2.07M – $2.76M
NOI $165,695 @ 7.0% cap · market cap 5.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.08M
$2.69M – $3.59M
NOI $215,521 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,911
Businesses Nearby
Explore this area
Business Placement
Demographics for 84101, UT
8,140
Population
5,605
Households
1.5
Avg Household Size
34
Median Age
51%
College-Educated
95%
High-School Grad
1.8 sq mi
ZIP Area
4,522
Density / Sq Mi
$70,391
Median Household Income
$55,238
Median Earnings
$1,336
Median Rent
$541,100
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 - MU-8-zoned property with private offices, meeting space, kitchen, break room, and open work areas.
Where is this office building located?
The property is located at 326 S 500 E Salt Lake City, UT.
What is the asking price?
The asking price for this property is $2,999,999.
What are key features of this property?
This property features: Approximately 11,428 SF across two levels; 5,714 SF main level and 5,714 SF lower level; 25 on‑site parking stalls, including seven covered spaces
