Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    4516 E St Murray, UT 84107

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Prime Murray office space, flexible lease terms.

    Lot size:
    61,131 SF

    Property Features for 4516 E St

    General Information

    Property type
    Office properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    61,131 SF
    Class
    C
    Total Rate
    81508

    Building Details

    Year Built/Renovated
    1986/2020
    Stories
    3

    Spaces For Lease

    at 4516 E St, Murray, UT 84107 Contact us
    Unit Suite 190

    $17 /Mo

    Size
    4,175 SF
    Contact us
    Unit Suite 260

    $16 /Mo

    Size
    2,986 SF
    Contact us

    We can help!

    Listing Contact
    Rusty Lugo
    Rusty Lugo

    Listing Agency: Colliers - Salt Lake City, Utah Listing Agent: Rusty Lugo

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

    Learn more

    Property Insight Report

    Overview

    Aspenwood Park, located at 4516 S 700 E in Salt Lake City, UT 84107, offers exceptional executive office space for lease. This three-story, Class C building, totaling 61,131 square feet, underwent renovations in 2020, ensuring modern amenities within a well-established structure originally built in 1986. Currently, there are two available suites, ranging from 2,986 to 4,175 square feet, perfect for businesses seeking flexible and adaptable workspaces. The property sits on a 2.12-acre lot and provides ample parking with a ratio of 4.3 spaces per 1,000 square feet. Building features include elevators for convenient access to all floors. The building is situated in the Central Valley East submarket of Salt Lake County, offering excellent accessibility and visibility. A motivated landlord is prepared to offer build-out incentives for qualified tenants seeking longer-term leases. This presents a unique opportunity to customize your workspace to perfectly suit your business needs within a well-maintained and conveniently located office building. The property's location in Murray provides easy access to major transportation routes and a variety of local amenities. With a total of 1,106 square feet currently vacant, this is an ideal opportunity for businesses seeking immediate occupancy.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon 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
    Murray
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.872064
    Latitude
    40.673859

    Nearby Similar for Lease

    • Contact for pricing
      17,424 SF

      Murray Office Space For Lease

      Centrally located Murray office space with convenient freeway access.
      162 E 4500 S, Murray, UT 84107
      View Details
    • Contact for pricing
      436 SF

      Murray Office Space For Lease

      Central Murray office space near Trax, mall, and highways.
      106 W Winchester St, Murray, UT 84107
      View Details
    • $22 SF/Yr

      Murray Crossing Retail/Office Space

      Retail, office, or medical space available in Murray, Utah.
      196 W Vine St, Murray, UT 84107
      View Details
    • $16 SF/Yr

      Murray Office Space for Lease

      Campus-like office property with updated interiors and convenient amenities.
      5288 Commerce Dr, Murray, UT 84107
      View Details
    • $0.99 SF/Yr
      7,746 SF

      Industrial Space with Billboard Signage

      7,746 SF industrial space with 1,800 SF office available.
      4876 South Commerce Dr, Murray, UT 84107
      View Details
    • $21 SF/Yr

      Murray Office Space For Lease

      Centrally located office space with freeway access and ample parking.
      4400 South Brg East, Murray, UT 84107
      View Details
    • Contact for pricing
      41,968 SF

      Retail Space Available For Lease

      Retail property available for lease in Murray, Utah.
      5976 State St, Murray, UT 84107
      View Details
    • $19 SF/Yr

      Office Space with Atrium Lobby

      Office space featuring an atrium lobby and panoramic views.
      5353 South Brg East, Murray, UT 84117
      View Details
    • $24 SF/Yr

      Remodeled Retail/Office Space Available

      Recently remodeled retail or office space in downtown Murray.
      4901 S State St, Murray, UT 84107
      View Details
    • Contact for pricing
      15,602 SF

      Proposed Warehouse Space Available

      Proposed industrial building with excellent access, delivering Q1 2026.
      4272 Zevex Park Ln, Murray, UT 84123
      View Details
    • $16 SF/Yr
      1,494 SF

      Updated Office Space For Rent

      Updated office space in ideal location with abundant amenities.
      5286-5288 Commerce Dr, Murray, UT 84107
      View Details

    FAQs

    What type of property is this?
    Office property - Prime Murray office space, flexible lease terms.
    Where is this office property located?
    The property is located at 4516 E St Murray, UT.
    What is the lease rate?
    The lease rate is $16-$17 SF/Yr.
    What are key features of this property?
    This property features: Lease Rate: $16.50 - $17.00 PSF, Full-Service, with potential tenant improvement allowance.; Attractive building and grounds.; Abundant covered parking.
    Request Owner's contact information
    4516 E St Murray, UT 84107
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    4516 E St
    Murray, UT 84107
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    4516 E St Murray, UT 84107
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Rusty Lugo
    Rusty Lugo
    Real Estate License ID: 6732628-SA00
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!