Office Building with I-15
For Sale
Contact for pricing
5296 Commerce Dr, Murray, UT 84107
60,723 SF office building with immediate occupancy available.
Property Size60,723 SF
Lot Size1.97 Acres
Price / SF$197.62
Days on Market188
Property Features for 5296 Commerce Dr
General Information
Standard status
Active
Size
60,723 SF
Class
B
Lot size
1.97 Acres
Property subtype
Office
Building Details
Stories
4
Listing Agency:
Colliers - Salt Lake City, Utah
(801) 889-6213
Listed By:
Derek Sawaya · License #8082653-SA00
Source:
Crexi
Added: Feb 5
Changed: Aug 8
Last Checked: Aug 12 at 12:19PM
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 60,723 square foot office building offers 15,098 square feet of space available for immediate occupancy, including 8,141 square feet of contiguous space. The property is situated on a 1.97-acre lot and includes 75 surface parking stalls and 50 covered parking spaces. The building features crown building and monument signage with visibility on I-15, providing direct access to the 5300 South on/off ramp.
Key Highlights
- Direct access to 5300 S. on/off ramp
- Crown building and monument signage with visibility on I‑15
- 15,098 SF available for immediate occupancy**
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
$880,423
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
7.34%
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%
$17,608,460
$17.6M
Cap Rate 7%
$12,577,471
$12.6M
Cap Rate 9%
$9,782,478
$9.8M
Market Conditions
NOI Build-Up for 60,723 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
$1.30M $21.48/SF
− Vacancy
−$130.4K −$2.15/SF
EGI
$1.17M $19.33/SF
− OpEx
−$293.5K −$4.83/SF
NOI
$880.4K $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%
$17,608,460
Cap Rate 7%
$12,577,471
Cap Rate 9%
$9,782,478
Alternative Uses
Best Use
Office B
$12.58M
$11.01M – $14.67M
NOI $880,423 @ 7.0% cap · market cap 7.34%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$808.55M
$707.48M – $943.31M
NOI $56,598,438 @ 7.0% cap · market cap 471.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,799
Businesses Nearby
Explore this area
Business Placement
Demographics for 84107, UT
37,713
Population
17,287
Households
2.2
Avg Household Size
34
Median Age
38%
College-Educated
93%
High-School Grad
7.5 sq mi
ZIP Area
5,028
Density / Sq Mi
$73,469
Median Household Income
$46,098
Median Earnings
$1,387
Median Rent
$426,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 60,723 SF office building with immediate occupancy available.
Where is this office building located?
The property is located at 5296 Commerce Dr Murray, UT.
What is the asking price?
The asking price for this property is $12,000,000.
What are key features of this property?
This property features: Direct access to 5300 S. on/off ramp; Crown building and monument signage with visibility on I‑15; 15,098 SF available for immediate occupancy**
