Multi-Tenant Office
For Sale
Contact for pricing
411 W 7200 S, Midvale, UT 84047
Multi-tenant, full-service office building with ample on-site parking and professionally maintained interiors.
Property Size19,500 SF
Price / SF$184.62
Days on Market205
Property Features for 411 W 7200 S
General Information
Standard status
Active
Size
19,500 SF
Class
B
Total Parking Spaces
43
Property subtype
Office
Zoning
TODO
Occupancy
100%
Investment Type
Core+
Net Operating Income
$194,318
Additional Details
Highway Access
Yes
Building Details
Year Built
1979
Year Renovated
2020
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
Investment Realty Advisors
Listed By:
Elliot Abel · License #UT 94166337-SA00
(435) 485-7070
Source:
Crexi
Added: Feb 17
Changed: Sep 8
Last Checked: Sep 10 at 8:27AM
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 Investment Realty Advisors
Investment Insights
Based on property information with market context.
Located at 411 W 7200 S in Midvale, this 19,500 SF multi-tenant office building offers a full-service office configuration. Interiors are professionally maintained and kept clean, supporting day-to-day operations for a range of tenant uses.
The property provides immediate access to I-15 and strong visibility from 7200 South, with ample on-site parking for employee and visitor convenience.
The offering includes a diverse tenant mix, and the seller describes value-add potential through lease-up and rent optimization. This is a straightforward option for buyers seeking an established office asset with practical operational features already in place.
The property provides immediate access to I-15 and strong visibility from 7200 South, with ample on-site parking for employee and visitor convenience.
The offering includes a diverse tenant mix, and the seller describes value-add potential through lease-up and rent optimization. This is a straightforward option for buyers seeking an established office asset with practical operational features already in place.
Key Highlights
- 19,500 SF multi‑tenant office building in Midvale with immediate access to I‑15
- Full‑service office configuration
- Strong visibility from 7200 South
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
$282,731
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
7.85%
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%
$5,654,620
$5.7M
Cap Rate 7%
$4,039,014
$4.0M
Cap Rate 9%
$3,141,456
$3.1M
Market Conditions
NOI Build-Up for 19,500 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
$418.9K $21.48/SF
− Vacancy
−$41.9K −$2.15/SF
EGI
$377.0K $19.33/SF
− OpEx
−$94.2K −$4.83/SF
NOI
$282.7K $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 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%
$5,654,620
Cap Rate 7%
$4,039,014
Cap Rate 9%
$3,141,456
Alternative Uses
Best Use
Office B
$4.04M
$3.53M – $4.71M
NOI $282,731 @ 7.0% cap · market cap 7.85%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$259.65M
$227.19M – $302.92M
NOI $18,175,478 @ 7.0% cap · market cap 504.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,379
Businesses Nearby
Explore this area
Business Placement
Demographics for 84047, UT
37,146
Population
17,221
Households
2.2
Avg Household Size
33
Median Age
34%
College-Educated
92%
High-School Grad
6.4 sq mi
ZIP Area
5,804
Density / Sq Mi
$73,120
Median Household Income
$43,845
Median Earnings
$1,482
Median Rent
$404,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Multi-tenant, full-service office building with ample on-site parking and professionally maintained interiors.
Where is this office building located?
The property is located at 411 W 7200 S Midvale, UT.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: 19,500 SF multi‑tenant office building in Midvale with immediate access to I‑15; Full‑service office configuration; Strong visibility from 7200 South
