Owner-User Office
For Sale
Contact for pricing
5941 S Redwood Rd, Salt Lake City, UT 84123
5,500 SF office building with 1,900 SF vacant and 3,600 SF on month-to-month leases.
Property Size5,500 SF
Price / SF$168.18
Days on Market64
Property Features for 5941 S Redwood Rd
General Information
Standard status
Active
Size
5,500 SF
Property subtype
OFFICE
Occupancy
65%
Additional Details
Business Included
No
Highway Access
Yes
Listing Agency:
Mountain West - Corporate
(801) 456-8800
Listed By:
Spencer Greer · License #10484989-SA00
(801) 783-3078
Source:
Moodyscre
Added: Jul 14
Changed: Sep 7
Last Checked: Sep 15 at 4:41AM
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 Mountain West - Corporate
Investment Insights
Based on property information with market context.
This owner-user office building totals 5,500 SF and includes 1,900 SF currently vacant. The remaining 3,600 SF is held under month-to-month leases, creating space for either an owner-occupied plan or flexible near-term occupancy.
The property is centrally located in Salt Lake County and offers excellent freeway access.
Offered for sale at $925,000, the building presents a straightforward configuration of both vacant space and leased office area within a single office asset.
The property is centrally located in Salt Lake County and offers excellent freeway access.
Offered for sale at $925,000, the building presents a straightforward configuration of both vacant space and leased office area within a single office asset.
Key Highlights
- 5,500 SF office building with 1,900 SF currently vacant
- 3,600 SF on month‑to‑month leases
- Purchase price is $925,000 ($168.18/SF)
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
$79,745
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
8.62%
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%
$1,594,900
$1.6M
Cap Rate 7%
$1,139,214
$1.1M
Cap Rate 9%
$886,056
$886.1K
Market Conditions
NOI Build-Up for 5,500 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
$118.1K $21.48/SF
− Vacancy
−$11.8K −$2.15/SF
EGI
$106.3K $19.33/SF
− OpEx
−$26.6K −$4.83/SF
NOI
$79.7K $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%
$1,594,900
Cap Rate 7%
$1,139,214
Cap Rate 9%
$886,056
Alternative Uses
Best Use
Office B
$1.14M
$996.8K – $1.33M
NOI $79,745 @ 7.0% cap · market cap 8.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.48M
$1.30M – $1.73M
NOI $103,725 @ 7.0% cap · market cap 11.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
65.5%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
827
Businesses Nearby
Explore this area
Business Placement
Demographics for 84123, UT
39,489
Population
14,716
Households
2.7
Avg Household Size
34
Median Age
28%
College-Educated
91%
High-School Grad
8.3 sq mi
ZIP Area
4,758
Density / Sq Mi
$80,079
Median Household Income
$42,195
Median Earnings
$1,416
Median Rent
$436,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - 5,500 SF office building with 1,900 SF vacant and 3,600 SF on month-to-month leases.
Where is this office building located?
The property is located at 5941 S Redwood Rd Salt Lake City, UT.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 5,500 SF office building with 1,900 SF currently vacant; 3,600 SF on month‑to‑month leases; Purchase price is $925,000 ($168.18/SF)
