Office Condo with Conference
For Sale
Contact for pricing
68-72 S Main St, Salt Lake City, UT 84101
Move-in-ready office condo in the McIntyre Building with secure access, private restrooms, kitchenette, and multiple conference rooms.
Property Size5,517 SF
Price / SF$326.08
Days on Market285
Property Features for 68-72 S Main St
General Information
Standard status
Active
Size
5,517 SF
Property subtype
OFFICE
Site & Location
Highway Access
Yes
Public Transit
Yes
Amenities
secure access
private restrooms
kitchenette
multiple conference rooms
Listing Agency:
Colliers | Salt Lake City Downtown
(801) 441-5937
Listed By:
Tyler Broussard · License #13885438-SA00
(801) 947-8393
Source:
Moodyscre
Added: Dec 5, 2025
Changed: Sep 7
Last Checked: Sep 15 at 4:24AM
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 Downtown
Investment Insights
Based on property information with market context.
Move-in-ready office condo (5,517 SF) in the iconic McIntyre Building, fully built out for day-to-day business use. The space includes secure access, private restrooms, a kitchenette, and multiple conference rooms, making it well suited for teams needing ready-to-operate meeting and work areas.
Located in the heart of downtown Salt Lake City, the property is surrounded by City Creek and offers access to TRAX and nearby dining, hotels, and retail amenities. Connectivity is highlighted to I-15, I-80, and SLC International Airport.
This is a practical option for an organization looking for a finished office condo within a central, connected downtown environment.
Located in the heart of downtown Salt Lake City, the property is surrounded by City Creek and offers access to TRAX and nearby dining, hotels, and retail amenities. Connectivity is highlighted to I-15, I-80, and SLC International Airport.
This is a practical option for an organization looking for a finished office condo within a central, connected downtown environment.
Key Highlights
- Move‑in‑ready 5,517 SF office condo in the McIntyre Building
- Secure access
- Private restrooms
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
$79,991
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
4.45%
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%
$1,599,820
$1.6M
Cap Rate 7%
$1,142,729
$1.1M
Cap Rate 9%
$888,789
$888.8K
Market Conditions
NOI Build-Up for 5,517 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
$118.5K $21.48/SF
− Vacancy
−$11.9K −$2.15/SF
EGI
$106.7K $19.33/SF
− OpEx
−$26.7K −$4.83/SF
NOI
$80.0K $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%
$1,599,820
Cap Rate 7%
$1,142,729
Cap Rate 9%
$888,789
Alternative Uses
Best Use
Office B
$1.14M
$999.9K – $1.33M
NOI $79,991 @ 7.0% cap · market cap 4.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.49M
$1.30M – $1.73M
NOI $104,045 @ 7.0% cap · market cap 5.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
7,032
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Salt Lake City, UT
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Frequently Asked Questions
What type of property is this?
Office units - Move-in-ready office condo in the McIntyre Building with secure access, private restrooms, kitchenette, and multiple conference rooms.
Where is this office units located?
The property is located at 68-72 S Main St Salt Lake City, UT.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: Move‑in‑ready 5,517 SF office condo in the McIntyre Building; Secure access; Private restrooms
