Downtown Salt Lake City
For Sale
$3,400,000
546 200, Salt Lake City, UT 84101
Spacious Owner-User Opportunity in Downtown Salt Lake City Utah
Property Size10,328 SF
Lot Size0.00 Acres
Price / SF$329.20
Days on Market333
Property Features for 546 200
General Information
Standard status
Active
Property type
Office buildings, Creative space, Office Spaces
Size
10,328 SF
Class
B
Total Parking Spaces
22
Lot size
0.00 Acres
Building Details
Year Built
1956
Buildings
1
Stories
2
Listing Agency:
(337) 304-3984
Listed By:
Tyler
(337) 304-3984
Added: Sep 24, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
Located in downtown Salt Lake City, this 10,328 SF building at 546 S 200 W presents an owner-user opportunity with the option to divide the space into 6,792 SF and 3,382 SF sections, each with separate entrances. The property features a secluded private patio, along with 22 parking stalls and walkable amenities. Updated in 2020, the building includes a reception area, 20 private offices, 2 open work areas, 3 conference rooms, a full kitchen, and 4 restrooms. Multiple secure entrances balance creativity and functionality. The location provides convenient access to a James Beard–nominated restaurant, convention centers, Grand America spa, hotels, golf simulators, ski and car rentals, and the airport. The property also offers future development potential and is located in an Opportunity Zone. It provides 3-minute freeway access and is near retail, restaurants, coffee shops, and dry cleaning.
Key Highlights
- Private Outdoor Patio
- Flexible 6,792 SF and 3,382 SF for multi‑tenant, growth and expansion options
- Opportunity Zone
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
$149,746
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
4.40%
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%
$2,994,920
$3.0M
Cap Rate 7%
$2,139,229
$2.1M
Cap Rate 9%
$1,663,844
$1.7M
Market Conditions
NOI Build-Up for 10,328 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
$221.8K $21.48/SF
− Vacancy
−$22.2K −$2.15/SF
EGI
$199.7K $19.33/SF
− OpEx
−$49.9K −$4.83/SF
NOI
$149.7K $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%
$2,994,920
Cap Rate 7%
$2,139,229
Cap Rate 9%
$1,663,844
Alternative Uses
Best Use
Office B
$2.14M
$1.87M – $2.50M
NOI $149,746 @ 7.0% cap · market cap 4.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.78M
$2.43M – $3.25M
NOI $194,776 @ 7.0% cap · market cap 5.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,574
Businesses Nearby
Explore this area
Business Placement
Demographics for 84101, UT
8,140
Population
5,605
Households
1.5
Avg Household Size
34
Median Age
51%
College-Educated
95%
High-School Grad
1.8 sq mi
ZIP Area
4,522
Density / Sq Mi
$70,391
Median Household Income
$55,238
Median Earnings
$1,336
Median Rent
$541,100
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 building - Spacious Owner-User Opportunity in Downtown Salt Lake City Utah
Where is this office building located?
The property is located at 546 200 Salt Lake City, UT.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: Private Outdoor Patio; Flexible 6,792 SF and 3,382 SF for multi‑tenant, growth and expansion options; Opportunity Zone
