Historic Flex Building in Salt
For Sale
Contact for pricing
Pending
730 W 400 N, Salt Lake City, UT 84116
Unique commercial/residential flex building with tons of potential.
Property Size3,269 SF
Days on Market186
Property Features for 730 W 400 N
General Information
Standard status
Pending
Size
3,269 SF
Property subtype
Mixed Use, Office, Retail
Building Details
Year Built
1905
Year Renovated
2010
Buildings
1
Stories
2
Listing Agency:
Summit Sotheby's International Realty (Salt Lake)
(435) 295-3592
Listed By:
Sean Steinman · License #9079608
Source:
Crexi
Added: Feb 6
Changed: Aug 8
Last Checked: Jul 24 at 4:59PM
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 Summit Sotheby's International Realty (Salt Lake)
Investment Insights
Based on property information with market context.
This historic commercial flex building, located in Salt Lake City, offers potential for creative or workshop use. The property has a rich history, originally owned by the Caputo’s Family, who arrived in Salt Lake City in 1923. They operated their store from the main level while residing upstairs. The street-level space features an open layout, adaptable for various needs, and is suited for artists, makers, designers, or light industrial users seeking character and flexibility. The upper level is a studio dwelling in the remodel stage, recently drywalled, allowing for customized finishes. The property provides freeway access, proximity to downtown Salt Lake City, and a walkable setting near city parks, shopping, restaurants, and entertainment. The building size is 3269 square feet.
Key Highlights
- Prime Salt Lake City location with excellent freeway access and walkability to downtown, parks, shopping, restaurants, and entertainment.
- Unique commercial/residential flex building suitable for creatives, workshop use, or light industrial purposes.
- Historic property with ties to the Caputo's Family, offering a meaningful piece of Salt Lake City history.
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
$48,844
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
8.88%
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%
$976,880
$976.9K
Cap Rate 7%
$697,771
$697.8K
Cap Rate 9%
$542,711
$542.7K
Market Conditions
NOI Build-Up for 3,269 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
$71.8K $21.96/SF
− Vacancy
−$2.0K −$0.61/SF
EGI
$69.8K $21.35/SF
− OpEx
−$20.9K −$6.40/SF
NOI
$48.8K $14.94/SF
Area
Salt Lake City, UT
Vacancy
2.80%
Lease Rate
$21.96 /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%
$976,880
Cap Rate 7%
$697,771
Cap Rate 9%
$542,711
Alternative Uses
Best Use
Retail
$697.8K
$610.6K – $814.1K
NOI $48,844 @ 7.0% cap · market cap 8.88%
Second Best
Office B
$677.1K
$592.5K – $790.0K
NOI $47,397 @ 7.0% cap · market cap 8.62%
Theoretical Best
Office A
$880.7K
$770.6K – $1.03M
NOI $61,650 @ 7.0% cap · market cap 11.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
753
Businesses Nearby
Explore this area
Business Placement
Demographics for 84116, UT
35,327
Population
14,487
Households
2.4
Avg Household Size
31
Median Age
24%
College-Educated
82%
High-School Grad
50.3 sq mi
ZIP Area
702
Density / Sq Mi
$69,604
Median Household Income
$38,492
Median Earnings
$1,280
Median Rent
$334,900
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?
Mixed-use property - Unique commercial/residential flex building with tons of potential.
Where is this mixed-use property located?
The property is located at 730 W 400 N Salt Lake City, UT.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Prime Salt Lake City location with excellent freeway access and walkability to downtown, parks, shopping, restaurants, and entertainment.; Unique commercial/residential flex building suitable for creatives, workshop use, or light industrial purposes.; Historic property with ties to the Caputo's Family, offering a meaningful piece of Salt Lake City history.
