Remodeled Two-Level Office
For Sale
$420,000
4885 S 900 E, Salt Lake City, UT 84117
Commercial Sale, Salt Lake City, UT
Property Size1,517 SF
Lot Size0.01 Acres
Price / SF$276.86
Days on Market97
Property Features for 4885 S 900 E
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Commercial
Zoning description
RM
Security features
Security
Window features
Blinds
Interior features
Alarm: Security, Restroom: Private
Subdivision
SPRING TERRACE CONDO
Standard status
Active
APN
22-08-183-045
Lot size
0.01 Acres
Taxes and HOA fees
Tax Annual Amount
2092
Utilities
Heating system
Natural Gas
Amenities
loft
private bathroom
kitchenette
Building Details
Year built
1981
Flooring type
Tile, Carpet
Roof type
Asbestos Shingle
Listing Agency:
Next Real Estate Inc
(801) 647-0040
Listed By:
Steven Vanderlaan
(801) 647-0040
Added: May 25
Changed: Aug 20
Last Checked: Aug 29 at 1:06AM
MLS# 2160761
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Investment Insights
Based on property information with market context.
This office unit offers a two-level layout with 1,317 SF on the main floor and an approximately 200 SF upper office level. The configuration includes three primary offices, additional work areas, a built-in loft, private restroom, kitchenette, and a main-floor entrance. Tile and carpet flooring, natural-gas heating, and security alarm features are included. The space has been remodeled and is presented in move-in-ready condition.
Located at 4885 S 900 E in Salt Lake City, the property is within ZIP code 84117 and is zoned Commercial. The upper level is finished as office space and adds separation between work areas within the unit. The property was built in 1981 and has an asbestos shingle roof.
Located at 4885 S 900 E in Salt Lake City, the property is within ZIP code 84117 and is zoned Commercial. The upper level is finished as office space and adds separation between work areas within the unit. The property was built in 1981 and has an asbestos shingle roof.
Key Highlights
- 1,317 SF main level plus approximately 200 SF upper office level
- Two‑level office layout with built‑in loft
- Three main offices plus additional work areas
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
$21,995
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
5.24%
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%
$439,900
$439.9K
Cap Rate 7%
$314,214
$314.2K
Cap Rate 9%
$244,389
$244.4K
Market Conditions
NOI Build-Up for 1,517 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
$32.6K $21.48/SF
− Vacancy
−$3.3K −$2.15/SF
EGI
$29.3K $19.33/SF
− OpEx
−$7.3K −$4.83/SF
NOI
$22.0K $14.50/SF
Area
Salt Lake City, 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%
$439,900
Cap Rate 7%
$314,214
Cap Rate 9%
$244,389
Alternative Uses
Best Use
Office B
$314.2K
$274.9K – $366.6K
NOI $21,995 @ 7.0% cap · market cap 5.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$408.7K
$357.6K – $476.8K
NOI $28,609 @ 7.0% cap · market cap 6.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
856
Businesses Nearby
Explore this area
Business Placement
Demographics for 84117, UT
25,675
Population
11,316
Households
2.3
Avg Household Size
40
Median Age
51%
College-Educated
97%
High-School Grad
5.6 sq mi
ZIP Area
4,585
Density / Sq Mi
$87,451
Median Household Income
$47,445
Median Earnings
$1,687
Median Rent
$581,100
Median Home Value
Market
Vacancy Rate% for Office in Salt Lake City, UT
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Commercially zoned workspace combines private offices with an upper-level loft, kitchenette, and private restroom.
Where is this office units located?
The property is located at 4885 S 900 E Salt Lake City, UT.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: 1,317 SF main level plus approximately 200 SF upper office level; Two‑level office layout with built‑in loft; Three main offices plus additional work areas
