Mixed-Use Property with Medical
New
For Sale
Contact for pricing
3378 South 2300 East, Salt Lake City, UT 84109
Three apartments complement dedicated medical, wellness, and client-service spaces across separate buildings.
Property Size3,939 SF
Price / SF$444.28
Days on Market5
Property Features for 3378 South 2300 East
General Information
Standard status
Active
Size
3,939 SF
Property subtype
Multifamily, Office
Building Details
Buildings
3
Listing Agency:
Keller Williams Realty Western Trails
Listed By:
Kody M. Watts · License #WY RE-15364
(801) 948-3783
Source:
Crexi
Added: Sep 9
Changed: Sep 12
Last Checked: Sep 12 at 2:37PM
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 Keller Williams Realty Western Trails
Investment Insights
Based on property information with market context.
This mixed-use property spans three buildings with a combined area of approximately 3,939 square feet. The principal commercial structure contains approximately 1,376 square feet arranged for medical office and spa operations, including treatment rooms, office areas, client-facing space, and a full bathroom. A separate 591-square-foot IV and wellness suite provides additional dedicated space for infusion-related services.
The residential component measures 1,972 square feet and includes three apartments. Each residence has a private entrance, bedroom, and bathroom. Public records identify the underlying zoning as residential, while the property has an established history of medical and personal service use. An onsite shed is included, and additional parking stalls may be leased from a nearby business.
The residential component measures 1,972 square feet and includes three apartments. Each residence has a private entrance, bedroom, and bathroom. Public records identify the underlying zoning as residential, while the property has an established history of medical and personal service use. An onsite shed is included, and additional parking stalls may be leased from a nearby business.
Key Highlights
- Approximately 3,939 SF across three buildings
- Approximately 1,376 SF medical office and spa building with treatment rooms and client‑facing areas
- Separate 591 SF IV and wellness suite
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
$57,112
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
3.26%
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%
$1,142,240
$1.1M
Cap Rate 7%
$815,886
$815.9K
Cap Rate 9%
$634,578
$634.6K
Market Conditions
NOI Build-Up for 3,939 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
$84.6K $21.48/SF
− Vacancy
−$8.5K −$2.15/SF
EGI
$76.1K $19.33/SF
− OpEx
−$19.0K −$4.83/SF
NOI
$57.1K $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%
$1,142,240
Cap Rate 7%
$815,886
Cap Rate 9%
$634,578
Alternative Uses
Best Use
Office B
$815.9K
$713.9K – $951.9K
NOI $57,112 @ 7.0% cap · market cap 3.26%
Second Best
Healthcare Medical
$795.5K
$696.1K – $928.1K
NOI $55,686 @ 7.0% cap · market cap 3.18%
Theoretical Best
Office A
$1.06M
$928.6K – $1.24M
NOI $74,286 @ 7.0% cap · market cap 4.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
491
Businesses Nearby
Explore this area
Business Placement
Demographics for 84109, UT
24,768
Population
9,829
Households
2.5
Avg Household Size
37
Median Age
69%
College-Educated
99%
High-School Grad
57.0 sq mi
ZIP Area
435
Density / Sq Mi
$136,823
Median Household Income
$63,758
Median Earnings
$1,584
Median Rent
$679,000
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?
Mixed-use property - Three apartments complement dedicated medical, wellness, and client-service spaces across separate buildings.
Where is this mixed-use property located?
The property is located at 3378 South 2300 East Salt Lake City, UT.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Approximately 3,939 SF across three buildings; Approximately 1,376 SF medical office and spa building with treatment rooms and client‑facing areas; Separate 591 SF IV and wellness suite
