Medical Office Redevelopment
For Sale
Contact for pricing
462 E 100 S, Salt Lake City, UT 84111
Vacant medical office building for sale with redevelopment potential.
Property Size4,450 SF
Lot Size0.18 Acres
Price / SF$191.01
Days on Market1147
Property Features for 462 E 100 S
General Information
Standard status
Active
Size
4,450 SF
Total Parking Spaces
9
Lot size
0.18 Acres
Property subtype
Land, Office
Zoning
RMU Residential/Mixed-Use
Listing Agency:
Colliers - Salt Lake City, Utah
Listed By:
Tanner Riedel · License #10579188-SA00
(801) 947-8363
Source:
Crexi
Added: Jul 19, 2023
Changed: Sep 2
Last Checked: Sep 7 at 10:45AM
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 Colliers - Salt Lake City, Utah
Investment Insights
Based on property information with market context.
This property presents an opportunity for an owner-user or redevelopment project. It features a 4,450 square foot vacant medical office building situated on 0.18 acres of land. The site may accommodate the construction of up to 18 apartment units, although prospective buyers should independently verify this potential. The property is located in Salt Lake City, UT.
Key Highlights
- Vacant 4,450 SF medical office building
- Redevelopment opportunity
- 0.18 acres of land
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
$64,521
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
7.59%
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%
$1,290,420
$1.3M
Cap Rate 7%
$921,729
$921.7K
Cap Rate 9%
$716,900
$716.9K
Market Conditions
NOI Build-Up for 4,450 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
$95.6K $21.48/SF
− Vacancy
−$9.6K −$2.15/SF
EGI
$86.0K $19.33/SF
− OpEx
−$21.5K −$4.83/SF
NOI
$64.5K $14.50/SF
Area
Salt Lake City, 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%
$1,290,420
Cap Rate 7%
$921,729
Cap Rate 9%
$716,900
Alternative Uses
Best Use
Office B
$921.7K
$806.5K – $1.08M
NOI $64,521 @ 7.0% cap · market cap 7.59%
Second Best
Healthcare Medical
$898.7K
$786.4K – $1.05M
NOI $62,911 @ 7.0% cap · market cap 7.40%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,923 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,910
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 84111, UT
12,162
Population
8,635
Households
1.4
Avg Household Size
34
Median Age
55%
College-Educated
95%
High-School Grad
1.4 sq mi
ZIP Area
8,687
Density / Sq Mi
$57,188
Median Household Income
$49,490
Median Earnings
$1,294
Median Rent
$423,000
Median Home Value
Market
Vacancy Rate% for Office in Salt Lake City, UT
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Vacant medical office building for sale with redevelopment potential.
Where is this medical office space located?
The property is located at 462 E 100 S Salt Lake City, UT.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Vacant 4,450 SF medical office building; Redevelopment opportunity; 0.18 acres of land
