Medical Office Building Near
For Sale
Contact for pricing
Pending
5444 S Green St, Murray, UT
Strategically located medical office building with high visibility and strong tenants.
Property Size25,852 SF
Lot Size2.00 Acres
Days on Market354
Property Features for 5444 S Green St
General Information
Standard status
Pending
Size
25,852 SF
Lot size
2.00 Acres
Property subtype
OFFICE
Listing Agency:
Colliers | Salt Lake City Millrock
(801) 573-5959
Listed By:
Jared Booth, CCIM
(801) 573-5959
Source:
Moodyscre
Added: Sep 2, 2025
Changed: Aug 8
Last Checked: Aug 20 at 1:16PM
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 Millrock
Investment Insights
Based on property information with market context.
This property is strategically located just off Interstate-15, benefiting from high visibility with 196,000 vehicles passing by daily. The LED signage is visible from the Interstate. It is less than 5 minutes from the Intermountain Medical Center, a 100-acre Level I trauma center with over 500 beds, serving as a referral hub for six states and over 75 regional healthcare institutions. The property includes Suite A, occupied by a long-established medical family practice tenant with 60% of lease payments prepaid under a standard market-length lease, synergistic with other tenants. Suite B is occupied by a well-established national organization providing intensive ABA therapy, specializing in early intervention for children. Suite C is occupied by a long-term tenant, a national credit, absolute net leased ambulatory surgical center with Medicare Deemed Status Accreditation. The property was renovated in 2015, 2018, 2021, 2023, 2024, and 2025. The property size is 25852 square feet.
Key Highlights
- High visibility location off Interstate‑15 with 196,000 vehicles passing daily.
- Proximity to Intermountain Medical Center, a major regional healthcare hub.
- Suite C: Long‑term tenant, national credit, absolute net leased ambulatory surgical center with Medicare Deemed Status Accreditation.
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
$374,828
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
5.51%
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%
$7,496,560
$7.5M
Cap Rate 7%
$5,354,686
$5.4M
Cap Rate 9%
$4,164,756
$4.2M
Market Conditions
NOI Build-Up for 25,852 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
$555.3K $21.48/SF
− Vacancy
−$55.5K −$2.15/SF
EGI
$499.8K $19.33/SF
− OpEx
−$124.9K −$4.83/SF
NOI
$374.8K $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%
$7,496,560
Cap Rate 7%
$5,354,686
Cap Rate 9%
$4,164,756
Alternative Uses
Best Use
Office B
$5.35M
$4.69M – $6.25M
NOI $374,828 @ 7.0% cap · market cap 5.51%
Second Best
Healthcare Medical
$4.42M
$3.87M – $5.16M
NOI $309,355 @ 7.0% cap · market cap 4.55%
Theoretical Best
Multifamily LT 5
$344.23M
$301.20M – $401.60M
NOI $24,096,023 @ 7.0% cap · market cap 354.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,687
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Strategically located medical office building with high visibility and strong tenants.
Where is this medical office space located?
The property is located at 5444 S Green St Murray, UT.
What is the asking price?
The asking price for this property is $6,800,000.
What are key features of this property?
This property features: High visibility location off Interstate‑15 with 196,000 vehicles passing daily.; Proximity to Intermountain Medical Center, a major regional healthcare hub.; Suite C: Long‑term tenant, national credit, absolute net leased ambulatory surgical center with Medicare Deemed Status Accreditation.
