Office Building For
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3375 W Mayflower Ave, Lehi, UT 84043
Office building offered for sale at 3375 W Mayflower Ave in Lehi, UT.
Property Size6,000 SF
Price / SF$275
Days on Market211
Property Features for 3375 W Mayflower Ave
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Office
Investment Type
Owner/User
Building Details
Stories
2
Listing Agency:
KW Commercial KW Westfield Keller Williams Real Estate
Listed By:
Randy Park · License #UT 9544638-SA00
(801) 850-5700
Source:
Crexi
Added: Feb 6
Changed: Aug 25
Last Checked: Sep 3 at 6:48AM
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 KW Commercial KW Westfield Keller Williams Real Estate
Investment Insights
Based on property information with market context.
This office building is offered for sale as a standalone commercial property. The asset totals 6,000 square feet.
The property is located at 3375 W Mayflower Ave in Lehi, Utah 84043.
ForSale pricing is listed at $1,650,000.
The property is located at 3375 W Mayflower Ave in Lehi, Utah 84043.
ForSale pricing is listed at $1,650,000.
Key Highlights
- Office building for sale at 3375 W Mayflower Ave in Lehi, UT
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
$84,240
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
5.11%
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%
$1,684,800
$1.7M
Cap Rate 7%
$1,203,429
$1.2M
Cap Rate 9%
$936,000
$936.0K
Market Conditions
NOI Build-Up for 6,000 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
$144.0K $24.00/SF
− Vacancy
−$31.7K −$5.28/SF
EGI
$112.3K $18.72/SF
− OpEx
−$28.1K −$4.68/SF
NOI
$84.2K $14.04/SF
Area
Utah County, UT
Vacancy
22.00%
Lease Rate
$24.00 /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%
$1,684,800
Cap Rate 7%
$1,203,429
Cap Rate 9%
$936,000
Alternative Uses
Best Use
Office B
$1.20M
$1.05M – $1.40M
NOI $84,240 @ 7.0% cap · market cap 5.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.65M
$1.45M – $1.93M
NOI $115,776 @ 7.0% cap · market cap 7.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
673
Businesses Nearby
Explore this area
Business Placement
Demographics for 84043, UT
76,954
Population
23,408
Households
3.3
Avg Household Size
26
Median Age
50%
College-Educated
97%
High-School Grad
31.1 sq mi
ZIP Area
2,474
Density / Sq Mi
$125,598
Median Household Income
$49,643
Median Earnings
$1,802
Median Rent
$567,500
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 building - Office building offered for sale at 3375 W Mayflower Ave in Lehi, UT.
Where is this office building located?
The property is located at 3375 W Mayflower Ave Lehi, UT.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Office building for sale at 3375 W Mayflower Ave in Lehi, UT
