Flex Office and
For Sale
Contact for pricing
7706 Locust Street, Midvale, UT 84047
Office and warehouse building with ample yard and flexible layout, with highway visibility from I-215.
Property Size6,200 SF
Lot Size0.70 Acres
Price / SF$233.87
Days on Market71
Property Features for 7706 Locust Street
General Information
Standard status
Active
Size
6,200 SF
Lot size
0.70 Acres
Property subtype
Office
Zoning
Regional Commercial
Investment Type
Owner/User
Site & Location
Highway Access
Yes
Outdoor Storage
Yes
Building Details
Buildings
1
Listing Agency:
Woodley Real Estate
Listed By:
Eric Woodley · License #UT
(801) 362-7848
Source:
Crexi
Added: Jul 1
Changed: Sep 5
Last Checked: Sep 8 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 Woodley Real Estate
Investment Insights
Based on property information with market context.
This flex office and warehouse property combines office space and warehouse space with additional outdoor yard. The offering includes 4,200 square feet of office space and 2,000 square feet of warehouse space on 0.70 acres. The office area is arranged with 2,100 RSF on the main floor and an additional 2,100 RSF in the basement, creating flexible indoor configuration for a range of day-to-day needs.
The property is located at 7706 Locust Street in Midvale, Utah, with highway access and visibility from I-215.
Overall, the layout supports both office functions and warehouse use, supported by the available yard space for operations that benefit from outdoor area.
The property is located at 7706 Locust Street in Midvale, Utah, with highway access and visibility from I-215.
Overall, the layout supports both office functions and warehouse use, supported by the available yard space for operations that benefit from outdoor area.
Key Highlights
- 4,200 sq ft of office space plus 2,000 sq ft of warehouse space
- 2,100 RSF on the main floor with an additional 2,100 RSF in the basement
- Flexible office and warehouse layout with additional yard space on 0.70 acres
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
$97,341
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
6.71%
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%
$1,946,820
$1.9M
Cap Rate 7%
$1,390,586
$1.4M
Cap Rate 9%
$1,081,567
$1.1M
Market Conditions
NOI Build-Up for 6,200 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
$158.5K $25.56/SF
− Vacancy
−$8.7K −$1.41/SF
EGI
$149.8K $24.15/SF
− OpEx
−$52.4K −$8.45/SF
NOI
$97.3K $15.70/SF
Area
Salt Lake County, UT
Vacancy
5.50%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
35.00%
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%
$1,946,820
Cap Rate 7%
$1,390,586
Cap Rate 9%
$1,081,567
Alternative Uses
Best Use
Flex RnD
$1.39M
$1.22M – $1.62M
NOI $97,341 @ 7.0% cap · market cap 6.71%
Second Best
Warehouse
$731.1K
$639.7K – $853.0K
NOI $51,177 @ 7.0% cap · market cap 3.53%
Theoretical Best
Multifamily LT 5
$82.56M
$72.24M – $96.31M
NOI $5,778,870 @ 7.0% cap · market cap 398.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
653
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 84047, UT
37,146
Population
17,221
Households
2.2
Avg Household Size
33
Median Age
34%
College-Educated
92%
High-School Grad
6.4 sq mi
ZIP Area
5,804
Density / Sq Mi
$73,120
Median Household Income
$43,845
Median Earnings
$1,482
Median Rent
$404,200
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse building with ample yard and flexible layout, with highway visibility from I-215.
Where is this flex space located?
The property is located at 7706 Locust Street Midvale, UT.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: 4,200 sq ft of office space plus 2,000 sq ft of warehouse space; 2,100 RSF on the main floor with an additional 2,100 RSF in the basement; Flexible office and warehouse layout with additional yard space on 0.70 acres
