Freestanding Storefront
For Sale
$2,749,000
924 E 6740 S, Midvale, UT 84047
The property combines an established commercial space with a newly constructed addition and flexible occupancy options.
Property Size5,859 SF
Price / SF$469.19
Days on Market34
Property Features for 924 E 6740 S
General Information
Standard status
Active
Size
5,859 SF
Total Parking Spaces
37
Site & Location
Traffic Count
21,822 vehicles/day
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Building Details
Year Built
2011
Buildings
1
Building Size
5,859 SF
Listing Agency:
Spark Realty, LLC
(435) 229-1990
Listed By:
Christie Daugherty · License #8650059
Source:
Buysalty
Added: Jul 27
Changed: Aug 28
Last Checked: Aug 28 at 9:07PM
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 Spark Realty, LLC
Investment Insights
Based on property information with market context.
This freestanding storefront property contains 5,859 SF in total, including a 4,131 SF area for owner occupancy and a newly constructed 1,728 SF addition. Built in 2011, the building supports two purchase structures: occupy the full property or acquire the entire building with a new lease for the additional suite. The configuration accommodates both direct use and leaseback income.
The property includes 37 parking spaces, 900 E frontage, and reported traffic counts of over 21,822 ADT. Its location provides access to freeways and transit, supporting retail and office-oriented operations.
The property includes 37 parking spaces, 900 E frontage, and reported traffic counts of over 21,822 ADT. Its location provides access to freeways and transit, supporting retail and office-oriented operations.
Key Highlights
- 5,859 SF total building area with 4,131 SF occupied space and a 1,728 SF addition
- Freestanding storefront property with 900 E frontage
- 37 parking spaces
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
$87,750
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
3.19%
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%
$1,755,000
$1.8M
Cap Rate 7%
$1,253,571
$1.3M
Cap Rate 9%
$975,000
$975.0K
Market Conditions
NOI Build-Up for 5,859 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
$128.7K $21.96/SF
− Vacancy
−$3.3K −$0.56/SF
EGI
$125.4K $21.40/SF
− OpEx
−$37.6K −$6.42/SF
NOI
$87.7K $14.98/SF
Area
Salt Lake County, UT
Vacancy
2.57%
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%
$1,755,000
Cap Rate 7%
$1,253,571
Cap Rate 9%
$975,000
Alternative Uses
Best Use
Retail
$1.25M
$1.10M – $1.46M
NOI $87,750 @ 7.0% cap · market cap 3.19%
Second Best
Office B
$1.21M
$1.06M – $1.42M
NOI $84,950 @ 7.0% cap · market cap 3.09%
Theoretical Best
Multifamily LT 5
$78.01M
$68.26M – $91.02M
NOI $5,461,032 @ 7.0% cap · market cap 198.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
21,822 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,133
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - The property combines an established commercial space with a newly constructed addition and flexible occupancy options.
Where is this storefront property located?
The property is located at 924 E 6740 S Midvale, UT.
What is the asking price?
The asking price for this property is $2,749,000.
What are key features of this property?
This property features: 5,859 SF total building area with 4,131 SF occupied space and a 1,728 SF addition; Freestanding storefront property with 900 E frontage; 37 parking spaces
