Restored Freestanding Office
For Sale
Contact for pricing
10923 S Redwood Rd, South Jordan, UT 84095
Restored office building with ADA access and security system.
Property Size2,200 SF
Lot Size0.20 Acres
Price / SF$408.64
Days on Market696
Property Features for 10923 S Redwood Rd
General Information
Standard status
Active
Size
2,200 SF
Class
B
Lot size
0.20 Acres
Property subtype
Office
Investment Type
Owner/User
Building Details
Year Built
1930
Year Renovated
2020
Buildings
1
Stories
2
Tenancy
Single
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 24
Last Checked: Aug 28 at 8:11PM
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 freestanding office building, fully restored to a high-end standard. The 2,200 square foot building is situated on a 0.20-acre lot. It features full ADA access and a 24-hour security system. The HVAC systems and water heater were replaced in 2020. Monument signage is available and shared with a back building. A shared parking lot is also available, with a parking ratio of 3 per 1,000 square feet. The property is located on Redwood Frontage Road. The current seller is open to a leaseback arrangement on negotiated terms.
Key Highlights
- Fully restored, freestanding office building with 2,200 SF of remodeled main floor space.
- Enjoy full ADA accessibility and a 24‑hour security system.
- HVAC systems and water heater replaced in 2020.
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
$31,898
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
3.55%
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%
$637,960
$638.0K
Cap Rate 7%
$455,686
$455.7K
Cap Rate 9%
$354,422
$354.4K
Market Conditions
NOI Build-Up for 2,200 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
$47.3K $21.48/SF
− Vacancy
−$4.7K −$2.15/SF
EGI
$42.5K $19.33/SF
− OpEx
−$10.6K −$4.83/SF
NOI
$31.9K $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%
$637,960
Cap Rate 7%
$455,686
Cap Rate 9%
$354,422
Alternative Uses
Best Use
Office B
$455.7K
$398.7K – $531.6K
NOI $31,898 @ 7.0% cap · market cap 3.55%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$29.29M
$25.63M – $34.18M
NOI $2,050,567 @ 7.0% cap · market cap 228.09%
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
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Frequently Asked Questions
What type of property is this?
Office building - Restored office building with ADA access and security system.
Where is this office building located?
The property is located at 10923 S Redwood Rd South Jordan, UT.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Fully restored, freestanding office building with **2,200 SF of remodeled main floor space.**; Enjoy **full ADA accessibility** and a 24‑hour security system.; HVAC systems and water heater replaced in 2020.
