Retail Space with Loading
New
For Sale
$1,400,000
435 N 400 W, Salt Lake City, UT 84103
MU-6-zoned retail property with ground-level loading access in downtown Salt Lake City.
Property Size3,927 SF
Price / SF$356.51
Days on Market4
Property Features for 435 N 400 W
General Information
Standard status
Active
Size
3,927 SF
Property subtype
Retail
Zoning
MU-6
Additional Details
Highway Access
Yes
Amenities
ground-level loading door
Listing Agency:
Salt Lake City - Downtown
(801) 947-8363
Listed By:
Tanner Riedel · License #10579188-SA00
(801) 947-8363
Source:
Colliers
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 22 at 3:35AM
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 Salt Lake City - Downtown
Investment Insights
Based on property information with market context.
This 3,927 SF retail property is configured with a ground-level loading door and carries MU-6 zoning. The building is positioned for retail-oriented commercial use in downtown Salt Lake City.
The property is located at 435 N 400 W, with access to I-15 approximately 1 minute away. Its downtown setting places the building within Salt Lake City’s central commercial area.
The property is located at 435 N 400 W, with access to I-15 approximately 1 minute away. Its downtown setting places the building within Salt Lake City’s central commercial area.
Key Highlights
- 3,927 SF retail building
- MU‑6 zoning
- Ground‑level loading door
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
$58,676
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
4.19%
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%
$1,173,520
$1.2M
Cap Rate 7%
$838,229
$838.2K
Cap Rate 9%
$651,956
$652.0K
Market Conditions
NOI Build-Up for 3,927 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
$86.2K $21.96/SF
− Vacancy
−$2.4K −$0.61/SF
EGI
$83.8K $21.35/SF
− OpEx
−$25.1K −$6.40/SF
NOI
$58.7K $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%
$1,173,520
Cap Rate 7%
$838,229
Cap Rate 9%
$651,956
Alternative Uses
Best Use
Retail
$838.2K
$733.5K – $977.9K
NOI $58,676 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.06M
$925.7K – $1.23M
NOI $74,059 @ 7.0% cap · market cap 5.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,814
Businesses Nearby
164k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Hotels & Casinos 35%
Shops & Services 14%
McDonald's
Dining
41,636 visits/mo
0.4 miles
Maverik Adventures First Stop
Shops & Services
18,366 visits/mo
0.1 miles
Panda Express
Dining
15,415 visits/mo
0.4 miles
Hyatt House Salt Lake City/Downtown
Hotels & Casinos
15,268 visits/mo
0.5 miles
Starbucks
Dining
12,817 visits/mo
0.4 miles
Demographics for 84103, UT
22,788
Population
13,528
Households
1.7
Avg Household Size
36
Median Age
66%
College-Educated
98%
High-School Grad
20.5 sq mi
ZIP Area
1,112
Density / Sq Mi
$81,386
Median Household Income
$54,787
Median Earnings
$1,374
Median Rent
$710,700
Median Home Value
Market
Vacancy Rate% for Retail in Salt Lake City, UT
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - MU-6-zoned retail property with ground-level loading access in downtown Salt Lake City.
Where is this retail space located?
The property is located at 435 N 400 W Salt Lake City, UT.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 3,927 SF retail building; MU‑6 zoning; Ground‑level loading door
