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Office Building on 0.63 Acres

345 E Broadway, Salt Lake City, UT

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For Sale

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Three-level office building on 0.63 acres in Salt Lake City.

Type:OFFICE

Property size:

20,230 SF

Lot size:

0.63 Acres

Price / SF:

$286/SF

HighLights

Zoning: R‑MU (residential mixed use) allows for multi‑family, commercial, or office development.
Sizeable Building: 20,230 sq ft gross building area with main, second, and basement levels.
Ample Parking: 56 parking stalls (3.94/1000 RSF).
Large Lot: 0.63 acre site with 82.50' frontage on 300 South and 331.40' depth.
Existing Building: Includes a three‑level office building.
Secured Site: Features a decorative locking gate and fencing.

We can help!

Listing Contact

Peggy Garcia

For Sale

Contact for pricing

Three-level office building on 0.63 acres in Salt Lake City.

Type:OFFICE

Property size:

20,230 SF

Lot size:

0.63 Acres

Price / SF:

$286/SF

Added:: Aug 22, 2023
Days on Market:: 1022
Last Refresh:: May 19 at 10:24 pm

Property Features for 345 E Broadway

General Information

Standard status: Active
Size: 20,230 SF
Lot size: 0.63 Acres
Property subtype: OFFICE

We can help!

Listing Contact

Peggy Garcia

Listing agent Peggy Garcia License #5452864-SA00

Listing office Colliers | Salt Lake City Millrock

Listing date Aug 22, 2023

Source Moodyscre

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 Colliers | Salt Lake City Millrock

HighLights

Zoning: R‑MU (residential mixed use) allows for multi‑family, commercial, or office development.
Sizeable Building: 20,230 sq ft gross building area with main, second, and basement levels.
Ample Parking: 56 parking stalls (3.94/1000 RSF).
Large Lot: 0.63 acre site with 82.50' frontage on 300 South and 331.40' depth.
Existing Building: Includes a three‑level office building.
Secured Site: Features a decorative locking gate and fencing.

Overview

The property includes an existing three-level office building with two levels above grade and a basement. The gross building area totals 20,230 square feet, with 14,230 square feet on the main and second levels and 6,000 square feet in the basement. Constructed in 1973, the building features concrete and frame construction with a brick exterior. The top floor cantilevers over the driveway, providing some covered parking stalls. The 0.63-acre site is secured with a decorative locking gate and fencing. There are 56 parking stalls, equating to a ratio of 3.94 stalls per 1,000 rentable square feet. The property is zoned R-MU (residential mixed use). The site measures 82.50 feet along 300 South and is 331.40 feet deep. The highest and best use for the property is multi-family, commercial, or office development.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$434.5k	$21.48
− Vacancy	−$43.5k	−$2.15
EGI	$391.1k	$19.33
− OpEx	−$97.8k	−$4.83
NOI	$293.3k	$14.50

20,230 SF · lease $21.48/SF/yr · vacancy 10.00% · expense 25.00%

Alternative Uses

Best Use

Office B

$4.19M

$3.67M – $4.89M (±1% cap)

NOI $293,315 @ 7.0% cap · market cap 5.06%

Second Best

—

no second resolved use

Theoretical Best

Office A

$5.45M

$4.77M – $6.36M (±1% cap)

NOI $381,518 @ 7.0% cap · market cap 6.58%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Metro National Title: ... Insurance Agency Metro National Title Title Company FedEx Drop Box Postal Service

Suggested Use

Location Insight

Map
Local Demand

City: Salt Lake City
County: Salt Lake
State: Utah
Longitude: -111.881
Latitude: 40.763

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What type of property is this?

Office building - Three-level office building on 0.63 acres in Salt Lake City.

Where is this office building located?

The property is located at 345 E Broadway Salt Lake City, UT.

What is the asking price?

The asking price for this property is $5,800,000.

What are key features of this property?

This property features: Zoning: R‑MU (residential mixed use) allows for multi‑family, commercial, or office development.; Sizeable Building: **20,230 sq ft gross building area** with main, second, and basement levels.; Ample Parking: **56 parking stalls** (3.94/1000 RSF).

345 E Broadway, Salt Lake City, UT

Three-level office building on 0.63 acres in Salt Lake City.

Property Features for 345 E Broadway

General Information

We can help!

HighLights

Overview

Local Financial Insights For Office B

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Educational Property in Salt Lake

Converted Multifamily Apartment Building

Unique Loft Office Space

Industrial Property in Prime Location

Duplex with Two 5-Bed Units

Professional Office Building in Sugarhouse

Remodeled Duplex in Sugar House

Immaculate Duplex with Fenced Yard

Salt Lake City Multifamily Investment

Duplex and House Multi-Family

Remodeled Legal Duplex

Downtown Salt Lake City Triplex

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