Two-Story Office Building For
For Sale
Contact for pricing
10929 S Redwood Rd, South Jordan, UT 84095
10,000 SF office building built in 2020, South Jordan.
Property Size10,000 SF
Lot Size0.59 Acres
Price / SF$369.90
Days on Market696
Property Features for 10929 S Redwood Rd
General Information
Standard status
Active
Size
10,000 SF
Class
A
Lot size
0.59 Acres
Property subtype
Office
Building Details
Year Built
2020
Buildings
1
Stories
2
Units
3
Listing Agency:
Commercial Real Estate Specialists
(801) 824-1311
Listed By:
Kellen Koncar · License #UT 8731113-SA00
Source:
Crexi
Added: Oct 4, 2024
Changed: Aug 21
Last Checked: Aug 29 at 2:49PM
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 Commercial Real Estate Specialists
Investment Insights
Based on property information with market context.
This is a 10,000 square foot, two-story office building constructed in 2020. The property is situated on a 0.59-acre site and features 24-hour secure access. It is ADA accessible with elevator access and signage is available. The building includes solar panels that are owned outright. The property is located just off Redwood Road in South Jordan, providing convenient access to I-15. This property presents an opportunity for an owner-user.
Key Highlights
- Newly Built in 2020
- 10,000 SF Two Story Office Building**
- Excellent South Jordan Location with Nearby I‑15 Access
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
$144,990
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
3.92%
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%
$2,899,800
$2.9M
Cap Rate 7%
$2,071,286
$2.1M
Cap Rate 9%
$1,611,000
$1.6M
Market Conditions
NOI Build-Up for 10,000 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
$214.8K $21.48/SF
− Vacancy
−$21.5K −$2.15/SF
EGI
$193.3K $19.33/SF
− OpEx
−$48.3K −$4.83/SF
NOI
$145.0K $14.50/SF
Area
Salt Lake County, UT
Vacancy
10.00%
Lease Rate
$21.48 /SF/Yr
Expense Ratio
25.00%
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%
$2,899,800
Cap Rate 7%
$2,071,286
Cap Rate 9%
$1,611,000
Alternative Uses
Best Use
Office B
$2.07M
$1.81M – $2.42M
NOI $144,990 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$133.15M
$116.51M – $155.35M
NOI $9,320,758 @ 7.0% cap · market cap 251.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
179
Businesses Nearby
Explore this area
Business Placement
Demographics for 84095, UT
39,278
Population
13,518
Households
2.9
Avg Household Size
35
Median Age
46%
College-Educated
97%
High-School Grad
11.5 sq mi
ZIP Area
3,415
Density / Sq Mi
$123,082
Median Household Income
$57,833
Median Earnings
$1,794
Median Rent
$669,600
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 building - 10,000 SF office building built in 2020, South Jordan.
Where is this office building located?
The property is located at 10929 S Redwood Rd South Jordan, UT.
What is the asking price?
The asking price for this property is $3,699,000.
What are key features of this property?
This property features: Newly Built in 2020; 10,000 SF Two Story Office Building**; Excellent South Jordan Location with Nearby I‑15 Access
