High-Visibility Assembly Church
For Sale
$1,999,000
3950 S REDWOOD RD, Salt Lake City, UT 84123
Approximately 10,950 SF assembly-oriented building on Redwood Road in West Valley City’s C-2 commercial zone.
Property Size10,950 SF
Price / SF$182.56
Days on Market53
Property Features for 3950 S REDWOOD RD
General Information
Standard status
Active
Size
10,950 SF
Property subtype
Retail
Zoning
C-2
Building Details
Building Size
10,950 SF
Year Built
1948
Listing Agency:
Cannon & Company
(801) 753-8226
Listed By:
Spencer Clawson
(801) 636-8426
Source:
Liftrealty
Added: Jul 6
Changed: Aug 25
Last Checked: Aug 26 at 9:34AM
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 Cannon & Company
Investment Insights
Based on property information with market context.
This approximately 10,950-square-foot church/assembly property is positioned for visibility directly on the Redwood Road corridor. The building is currently used as a church and has an existing assembly-oriented layout that may support continued religious use and related community functions, as well as reception or event uses, education/training, counseling, wellness, professional office use, and showroom or other adaptive reuse options subject to city requirements.
The property is located in West Valley City within the C-2 commercial zone, which allows for certain retail and office uses along with other commercial possibilities, depending on city approvals. Prospective buyers should confirm zoning, permitted and conditional uses, parking and occupancy requirements, building condition, traffic counts, and all applicable city requirements.
The listing is offered for sale and may suit an owner-user, nonprofit religious organization, office or retail/showroom operator, event operator, or investor. Buyer and their representative should verify all information provided.
The property is located in West Valley City within the C-2 commercial zone, which allows for certain retail and office uses along with other commercial possibilities, depending on city approvals. Prospective buyers should confirm zoning, permitted and conditional uses, parking and occupancy requirements, building condition, traffic counts, and all applicable city requirements.
The listing is offered for sale and may suit an owner-user, nonprofit religious organization, office or retail/showroom operator, event operator, or investor. Buyer and their representative should verify all information provided.
Key Highlights
- Approximately 10,950 SF assembly‑oriented church building on Redwood Road in West Valley City.
- Year built: 1948; currently used as a church with an existing assembly‑oriented layout.
- Located in West Valley City C‑2 commercial zone allowing certain retail and office uses (subject to city requirements).
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
$163,610
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
8.18%
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%
$3,272,200
$3.3M
Cap Rate 7%
$2,337,286
$2.3M
Cap Rate 9%
$1,817,889
$1.8M
Market Conditions
NOI Build-Up for 10,950 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
$240.5K $21.96/SF
− Vacancy
−$6.7K −$0.61/SF
EGI
$233.7K $21.35/SF
− OpEx
−$70.1K −$6.40/SF
NOI
$163.6K $14.94/SF
Area
Salt Lake City, UT
Vacancy
2.80%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
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%
$3,272,200
Cap Rate 7%
$2,337,286
Cap Rate 9%
$1,817,889
Alternative Uses
Best Use
Retail
$2.34M
$2.05M – $2.73M
NOI $163,610 @ 7.0% cap · market cap 8.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.95M
$2.58M – $3.44M
NOI $206,506 @ 7.0% cap · market cap 10.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
557
Businesses Nearby
212k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 40%
Shops & Services 27%
Groceries 26%
Apparel 7%
Smith's
Groceries
50,820 visits/mo
0.2 miles
McDonald's
Dining
27,206 visits/mo
0.4 miles
Savers Thrift Store
Apparel
15,646 visits/mo
0.4 miles
Smith's Fuel Center
Shops & Services
15,511 visits/mo
0.1 miles
Little Caesars Pizza
Dining
12,120 visits/mo
0.3 miles
Demographics for 84123, UT
39,489
Population
14,716
Households
2.7
Avg Household Size
34
Median Age
28%
College-Educated
91%
High-School Grad
8.3 sq mi
ZIP Area
4,758
Density / Sq Mi
$80,079
Median Household Income
$42,195
Median Earnings
$1,416
Median Rent
$436,600
Median Home Value
Market
Vacancy Rate% for Retail in Salt Lake City, UT
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Church & religious facility - Approximately 10,950 SF assembly-oriented building on Redwood Road in West Valley City’s C-2 commercial zone.
Where is this church & religious facility located?
The property is located at 3950 S REDWOOD RD Salt Lake City, UT.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: Approximately 10,950 SF assembly‑oriented church building on Redwood Road in West Valley City.; Year built: 1948; currently used as a church with an existing assembly‑oriented layout.; Located in West Valley City C‑2 commercial zone allowing certain retail and office uses (subject to city requirements).
