12-Unit Professional Office
For Sale
Contact for pricing
5051 West 11800 South, Herriman, UT 84096
Planned multi-suite office development offering both ownership and leasing options in Herriman.
Property Size30,000 SF
Days on Market192
Property Features for 5051 West 11800 South
General Information
Standard status
Active
Size
30,000 SF
Class
B
Property subtype
Office - General Office
Additional Details
Office Units
12
Building Details
Building Size
30,000 SF
Year Built
2027
Buildings
1
Units
12
Listing Agency:
Spark Realty
Listed By:
Matt Hartman · License #12233620-SA00
Source:
Commercialcafe
Added: Apr 11
Changed: Oct 16
Last Checked: Oct 16 at 5:54AM
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 Spark Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Planned for completion in 2027, this professional office development will contain approximately 30,000 SF across 12 units. Available configurations range from 2,500 SF to 10,000 SF, providing several scale options within the project. Ownership and leasing opportunities are both identified for the development.
The property is located at 5051 West 11800 South in Herriman, Utah. Construction is expected to commence after 30% of the building is presold or leased.
The property is located at 5051 West 11800 South in Herriman, Utah. Construction is expected to commence after 30% of the building is presold or leased.
Key Highlights
- Approximately 30,000 SF professional office development
- 12 office units planned within the project
- Unit sizes range from 2,500 SF to 10,000 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$434,970
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,699,400
$8.7M
Cap Rate 7%
$6,213,857
$6.2M
Cap Rate 9%
$4,833,000
$4.8M
Market Conditions
NOI Build-Up for 30,000 SF
Gross rent
$644.4K $21.48/SF
− Vacancy
−$64.4K −$2.15/SF
EGI
$580.0K $19.33/SF
− OpEx
−$145.0K −$4.83/SF
NOI
$435.0K $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 Rate 5%
$8,699,400
Cap Rate 7%
$6,213,857
Cap Rate 9%
$4,833,000
Alternative Uses
Best Use
Office B
$6.21M
$5.44M – $7.25M
NOI $434,970 @ 7.0% cap · market cap 115,992.00%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$399.46M
$349.53M – $466.04M
NOI $27,962,274 @ 7.0% cap · market cap 7,456,606.40%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
12
Office units
Location Intelligence
Trade Area within ½ mile
434
Businesses Nearby
Explore this area
Business Placement
Demographics for 84096, UT
69,086
Population
21,168
Households
3.3
Avg Household Size
27
Median Age
41%
College-Educated
94%
High-School Grad
71.1 sq mi
ZIP Area
972
Density / Sq Mi
$117,800
Median Household Income
$50,954
Median Earnings
$1,888
Median Rent
$540,500
Median Home Value
Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office units - Planned multi-suite office development offering both ownership and leasing options in Herriman.
Where is this office units located?
The property is located at 5051 West 11800 South Herriman, UT.
What are key features of this property?
This property features: Approximately 30,000 SF professional office development; 12 office units planned within the project; Unit sizes range from 2,500 SF to 10,000 SF
