Occupied Office
For Sale
Contact for pricing
833 Pioneer Road Unit #100-101, Draper, UT 84020
Office condominium units completed in 2021 with established tenants and Light Industrial zoning.
Property Size4,072 SF
Price / SF$489.93
Days on Market10
Property Features for 833 Pioneer Road Unit #100-101
General Information
Standard status
Active
Size
4,072 SF
Class
A
Property subtype
Retail, Office
Zoning
Light Industrial
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Additional Details
Highway Access
Yes
Building Details
Year Built
2021
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
Derek Howe - ACCOUNT
Listed By:
Derek Howe · License #14174992SA00
Source:
Crexi
Added: Aug 12
Changed: Aug 18
Last Checked: Aug 21 at 6:40AM
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 Derek Howe - ACCOUNT
Investment Insights
Based on property information with market context.
This office condominium offering is located within Draper Cove Business Park and includes units designed for single-tenant or multi-tenant occupancy. The commercial improvements were completed in 2021, and established tenants currently occupy the property at 100% occupancy. The site includes on-site parking for tenants and visitors.
The property is addressed at 833 Pioneer Road, Unit #100-101, in Draper, Utah. Access to I-15 and visibility along 12300 S support the property’s business park setting. Light Industrial zoning provides the stated land-use designation for the office units. The offering may suit an owner-occupant or investor seeking occupied office condominium space.
The property is addressed at 833 Pioneer Road, Unit #100-101, in Draper, Utah. Access to I-15 and visibility along 12300 S support the property’s business park setting. Light Industrial zoning provides the stated land-use designation for the office units. The offering may suit an owner-occupant or investor seeking occupied office condominium space.
Key Highlights
- 100% occupancy with established tenants in place
- Office condominium units completed in 2021
- Single‑tenant or multi‑tenant configuration
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
$63,931
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
3.20%
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%
$1,278,620
$1.3M
Cap Rate 7%
$913,300
$913.3K
Cap Rate 9%
$710,344
$710.3K
Market Conditions
NOI Build-Up for 4,072 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
$104.1K $25.56/SF
− Vacancy
−$5.7K −$1.41/SF
EGI
$98.4K $24.15/SF
− OpEx
−$34.4K −$8.45/SF
NOI
$63.9K $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%
$1,278,620
Cap Rate 7%
$913,300
Cap Rate 9%
$710,344
Alternative Uses
Best Use
Flex RnD
$913.3K
$799.1K – $1.07M
NOI $63,931 @ 7.0% cap · market cap 3.20%
Second Best
Office B
$843.4K
$738.0K – $984.0K
NOI $59,040 @ 7.0% cap · market cap 2.96%
Theoretical Best
Multifamily LT 5
$54.22M
$47.44M – $63.26M
NOI $3,795,413 @ 7.0% cap · market cap 190.25%
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
1,195
Businesses Nearby
Explore this area
Business Placement
Demographics for 84020, UT
51,017
Population
16,865
Households
3
Avg Household Size
34
Median Age
51%
College-Educated
97%
High-School Grad
27.2 sq mi
ZIP Area
1,876
Density / Sq Mi
$130,680
Median Household Income
$55,377
Median Earnings
$1,812
Median Rent
$726,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Office condominium units completed in 2021 with established tenants and Light Industrial zoning.
Where is this office units located?
The property is located at 833 Pioneer Road Unit #100-101 Draper, UT.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 100% occupancy with established tenants in place; Office condominium units completed in 2021; Single‑tenant or multi‑tenant configuration
