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    12480 5600 Herriman, UT 84096

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    For Lease
    Contact for pricing

    Herriman, UT: Modern Office Suites Available

    Lot size:
    28,500 SF

    Property Features for 12480 5600

    General Information

    Property type
    Neighborhood centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    28,500 SF
    Class
    A
    Total Rate
    71250

    Building Details

    Year Built/Renovated
    2023/2023
    Buildings
    3
    Stories
    1

    Spaces For Lease

    at 12480 5600, Herriman, UT 84096 Contact us
    Unit Building 1

    $32 /Mo

    Size
    4,900 SF
    Contact us
    Unit Building 2

    $30 /Mo

    Size
    8,508 SF
    Contact us
    Unit Available Space 3

    $30 /Mo

    Size
    2,948 SF
    Contact us

    We can help!

    Listing Contact
    Geoff Dearing
    Geoff Dearing

    Listing Agency: Return Real Estate, Inc Listing Agent: Geoff Dearing

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Oquirrh Gateway, a brand-new, Class A commercial development in Herriman, Utah, offers versatile office spaces ideal for a variety of businesses. This three-building complex, completed in 2023, boasts a total of 28,500 square feet, with suites ranging from 2,000 to 8,508 contiguous square feet. Twelve individual suites are available across the buildings, with 10,000 square feet currently vacant. The property sits on a 3.23-acre lot, conveniently located at 12480 S 5600 W, Herriman, UT 84096, near the intersection of 5600 West and Herriman Boulevard. Ample parking is provided with 120 spaces. The property features multi-phase power connections and is zoned Commercial. A drive-through option is available in select units. The buildings are single-story structures, offering easy accessibility. Tenant improvement allowances are available, based on negotiated lease terms. Spaces will be delivered in gray shell condition. This prime location in one of Utah's fastest-growing areas offers excellent visibility and proximity to major transportation arteries, including the Mountain View Corridor and Bangerter Highway, and is close to the planned Olympia Hills Community. The property is suitable for traditional, medical, executive, and creative office uses, as well as retail and restaurant options, subject to zoning regulations. Contact us to discuss your specific needs and explore the leasing opportunities at Oquirrh Gateway.
    Property Profile Location Intelligence

    Current Use by Public Records

    Neighborhood centers

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Dental Office Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Herriman
    County
    Salt Lake
    State
    Utah
    Longitude
    -112.02385287963
    Latitude
    40.524211792716

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    FAQs

    What type of property is this?
    Neighborhood center - Herriman, UT: Modern Office Suites Available
    Where is this neighborhood center located?
    The property is located at 12480 5600 Herriman, UT.
    What is the lease rate?
    The lease rate is $30-$32 SF/Yr.
    What are key features of this property?
    This property features: High-traffic corner location in a brand-new building.; Prime location on a major thoroughfare with high daily traffic counts.;
    (801) 232-9500 Call to check price and availability
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    12480 5600 Herriman, UT 84096
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    12480 5600 Herriman, UT 84096
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    Contact for Pricing
    Please call us for current price
    and status of this listing Geoff Dearing
    Geoff Dearing
    Real Estate License ID: 5500952
    (801) 232-9500
    Learn more
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