Standalone Flex
For Sale
Contact for pricing
435 North 400 West, Salt Lake City, UT 84103
Standalone commercial property combining customer-facing retail space with warehouse functionality.
Property Size3,927 SF
Price / SF$356.51
Days on Market19
Property Features for 435 North 400 West
General Information
Standard status
Active
Size
3,927 SF
Property subtype
Retail
Investment Type
Owner/User
Listing Agency:
Colliers - Salt Lake City, Utah
(801) 947-8363
Listed By:
Tanner Riedel · License #10579188-SA00
Source:
Crexi
Added: Aug 4
Changed: Aug 17
Last Checked: Aug 21 at 11:00PM
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, Utah
Investment Insights
Based on property information with market context.
This standalone flex property offers 3,927 SF configured for a combination of retail and warehouse use. The building’s dual-purpose format supports commercial operations requiring both a customer-facing area and functional storage or work space.
The property is located at 435 North 400 West in Salt Lake City, Utah 84103.
The property is located at 435 North 400 West in Salt Lake City, Utah 84103.
Key Highlights
- 3,927 SF standalone flex property
- Retail and warehouse components in one building
- Located at 435 North 400 West, Salt Lake City, UT 84103
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
Flex RnD
$617.0K
$539.9K – $719.8K
NOI $43,189 @ 7.0% cap · market cap 3.08%
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
Current Use
Location Intelligence
Trade Area within ½ mile
24
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
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 Industrial 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?
Flex space - Standalone commercial property combining customer-facing retail space with warehouse functionality.
Where is this flex space located?
The property is located at 435 North 400 West 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 standalone flex property; Retail and warehouse components in one building; Located at 435 North 400 West, Salt Lake City, UT 84103
