Fitness Center with Office
For Sale
$1,500,000
576 W State Road 198, Salem, UT 84653
Configured for dance instruction, indoor training, and office use within one commercial property.
Property Size10,250 SF
Price / SF$146.34
Days on Market8
Property Features for 576 W State Road 198
General Information
Standard status
Active
Size
10,250 SF
Building Details
Year Built
2004
Listing Agency:
Equity Real Estate (Utah)
(801) 794-7777
Listed By:
Kenny Parcell · License #5469176-BB00
Source:
Redsign
Added: Aug 21
Changed: Aug 27
Last Checked: Aug 28 at 12:37PM
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 Equity Real Estate (Utah)
Investment Insights
Based on property information with market context.
Built in 2004, this 10,250-square-foot fitness facility is currently configured for dance instruction, indoor training, and office use. The existing arrangement brings activity-oriented space and administrative space together within one commercial property.
The property is located at 576 W State Road 198 in Salem, Utah. Its current dance studio and indoor training uses provide a factual basis for continued fitness- and activity-oriented occupancy, while the office component supports on-site administrative needs. Appointments are required to view the property.
The property is located at 576 W State Road 198 in Salem, Utah. Its current dance studio and indoor training uses provide a factual basis for continued fitness- and activity-oriented occupancy, while the office component supports on-site administrative needs. Appointments are required to view the property.
Key Highlights
- 10,250‑square‑foot fitness facility
- Currently used as a dance studio
- Indoor training facility included
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
$81,623
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
5.44%
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%
$1,632,460
$1.6M
Cap Rate 7%
$1,166,043
$1.2M
Cap Rate 9%
$906,922
$906.9K
Market Conditions
NOI Build-Up for 10,250 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
$123.0K $12.00/SF
− Vacancy
−$6.4K −$0.62/SF
EGI
$116.6K $11.38/SF
− OpEx
−$35.0K −$3.41/SF
NOI
$81.6K $7.96/SF
Area
Utah County, UT
Vacancy
5.20%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,632,460
Cap Rate 7%
$1,166,043
Cap Rate 9%
$906,922
Alternative Uses
Best Use
Industrial
$1.17M
$1.02M – $1.36M
NOI $81,623 @ 7.0% cap · market cap 5.44%
Second Best
Flex RnD
$993.0K
$868.9K – $1.16M
NOI $69,509 @ 7.0% cap · market cap 4.63%
Theoretical Best
Office A
$2.83M
$2.47M – $3.30M
NOI $197,784 @ 7.0% cap · market cap 13.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
179
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 84653, UT
11,103
Population
3,235
Households
3.4
Avg Household Size
30
Median Age
41%
College-Educated
98%
High-School Grad
16.1 sq mi
ZIP Area
690
Density / Sq Mi
$111,420
Median Household Income
$48,182
Median Earnings
$1,581
Median Rent
$569,300
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Uplift Fitness Studio — 576 UT-198, Salem, UT 84653
- FITCLUB — 139 UT-198, Salem, UT 84653
Frequently Asked Questions
What type of property is this?
Fitness center & gym - Configured for dance instruction, indoor training, and office use within one commercial property.
Where is this fitness center & gym located?
The property is located at 576 W State Road 198 Salem, UT.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 10,250‑square‑foot fitness facility; Currently used as a dance studio; Indoor training facility included
