Office
3450-3480 S Highland Dr., Millcreek, UT 84106
For Sale
Contact for pricing
The property includes an on-site Verizon cell tower under lease with annual increases.
Property Size32,898 SF
Lot Size2.07 Acres
Price / SF$188.46
Days on Market23
Property Features for 3450-3480 S Highland Dr.
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Additional Details
Tenant in Place
Property Use
Building Details
Buildings
Listing Agency:
Newmark Mountain West
Listed By:
Spencer Greer · License UT 10484989-SA00
(801) 783-3078
Source:
Crexi
Added: Oct 19
Changed: Nov 8
Last Checked: Nov 10 at 8:44AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The office property contains 32,898 square feet on 1.87 acres and is zoned R-M. A Verizon cell tower occupies part of the property under a lease that includes 2% annual increases.
Located at 3450-3480 S. Highland Dr. in Millcreek, the property was formerly the headquarters of Canyon View Credit Union.
Located at 3450-3480 S. Highland Dr. in Millcreek, the property was formerly the headquarters of Canyon View Credit Union.
Key Highlights
- 32,898‑square‑foot office building
- 1.87‑acre site
- Zoned R‑M
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$476,988
Cap Rate
7.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,539,760
$9.5M
Cap Rate 7%
$6,814,114
$6.8M
Cap Rate 9%
$5,299,867
$5.3M
Market Conditions
NOI Build-Up for 32,898 SF
Gross rent
$706.6K $21.48/SF
− Vacancy
−$70.7K −$2.15/SF
EGI
$636.0K $19.33/SF
− OpEx
−$159.0K −$4.83/SF
NOI
$477.0K $14.50/SF
Area
Salt Lake County, 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 Rate 5%
$9,539,760
Cap Rate 7%
$6,814,114
Cap Rate 9%
$5,299,867
Alternative Uses
Best Use
Office B
$6.81M
$5.96M – $7.95M
NOI $476,988 @ 7.0% cap · market cap 7.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.86M
$7.76M – $10.34M
NOI $620,424 @ 7.0% cap · market cap 10.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,326
Businesses Nearby
Explore this area
Business Placement
Demographics for 84106, UT
35,892
Population
16,782
Households
2.1
Avg Household Size
35
Median Age
57%
College-Educated
97%
High-School Grad
6.0 sq mi
ZIP Area
5,982
Density / Sq Mi
$94,452
Median Household Income
$56,358
Median Earnings
$1,576
Median Rent
$529,100
Median Home Value
Market
Average Price Trend$/SF for Office buildings in Salt Lake County, UT
Properties on Market for Office buildings in Salt Lake County
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - The property includes an on-site Verizon cell tower under lease with annual increases.
Where is this office building located?
The property is located at 3450-3480 S Highland Dr. Millcreek, UT.
What is the asking price?
The asking price for this property is $6,200,000.
What are key features of this property?
This property features: 32,898‑square‑foot office building; 1.87‑acre site; Zoned R‑M
