Mixed-Use Building with
For Sale
Contact for pricing
5418 W Herriman Main St, Herriman, UT 84096
The property combines a drive-through configuration, on-site parking, and an existing month-to-month tenancy.
Property Size5,294 SF
Price / SF$434.45
Days on Market591
Property Features for 5418 W Herriman Main St
General Information
Standard status
Active
Size
5,294 SF
Property subtype
Office, Retail
Zoning
MU-2
Occupancy
100%
Lease Type
NNN
Investment Type
Owner/User
Net Operating Income
$113,451
Additional Details
Drive-Thru
Yes
Building Details
Year Built
2015
Buildings
1
Tenancy
Single
Listing Agency:
Newmark Mountain West
Listed By:
Josh Vance, CCIM · License #UT 5498417-SA00
(801) 456-8800
Source:
Crexi
Added: Feb 13, 2025
Changed: Sep 19
Last Checked: Sep 26 at 5:52AM
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 Newmark Mountain West
Investment Insights
Based on property information with market context.
Constructed in 2015, this mixed-use property includes a drive-through component and ample on-site parking. The building is currently occupied under a month-to-month lease, with the tenant able to vacate following 30 days’ written notice. The property is located at 5418 W Herriman Main St in Herriman, Utah, and carries MU-2 zoning. Its existing configuration and flexible occupancy timeline provide a straightforward basis for continued use or future repositioning, subject to applicable zoning and lease considerations.
Key Highlights
- Drive‑through component included
- Ample on‑site parking
- Current month‑to‑month tenancy
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
$76,596
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
3.33%
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%
$1,531,920
$1.5M
Cap Rate 7%
$1,094,229
$1.1M
Cap Rate 9%
$851,067
$851.1K
Market Conditions
NOI Build-Up for 5,294 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
$137.9K $26.04/SF
− Vacancy
−$15.3K −$2.89/SF
EGI
$122.6K $23.15/SF
− OpEx
−$46.0K −$8.68/SF
NOI
$76.6K $14.47/SF
Area
Salt Lake County, UT
Vacancy
11.10%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
37.50%
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%
$1,531,920
Cap Rate 7%
$1,094,229
Cap Rate 9%
$851,067
Alternative Uses
Best Use
Mixed Use
$1.09M
$957.5K – $1.28M
NOI $76,596 @ 7.0% cap · market cap 3.33%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$70.49M
$61.68M – $82.24M
NOI $4,934,409 @ 7.0% cap · market cap 214.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines a drive-through configuration, on-site parking, and an existing month-to-month tenancy.
Where is this mixed-use property located?
The property is located at 5418 W Herriman Main St Herriman, UT.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Drive‑through component included; Ample on‑site parking; Current month‑to‑month tenancy
