Medical Office Condominium
For Sale
$914,200
9822 S TEMPLE DR, South Jordan, UT 84095
2,021 SF medical office condominium suite under construction, delivered as a completed shell for interior customization.
Property Size2,026 SF
Price / SF$452.35
Days on Market53
Property Features for 9822 S TEMPLE DR
General Information
Standard status
Active
Size
2,026 SF
Property subtype
Office
Building Details
Building Size
2,026 SF
Year Built
2026
Listing Agency:
Pendleton Real Estate LLC
(801) 450-2900
Listed By:
Mike Minnick
(801) 918-7888
Source:
Liftrealty
Added: Jul 17
Changed: Sep 7
Last Checked: Sep 7 at 6:39AM
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 Pendleton Real Estate LLC
Investment Insights
Based on property information with market context.
This for-sale medical office condominium suite (Space 2) offers 2,021 SF and represents approximately 35% of the building. The space is currently under construction with anticipated completion in September 2026 and will be delivered as a completed shell, giving the buyer flexibility to customize the interior to their needs. The seller is willing to contribute up to $40 per square foot toward tenant improvements, or provide an equivalent credit at closing. Medical office use only.
The current address is 9822 S Temple Dr, South Jordan, UT 84095. The proposed property address is 1326 W Shields Ln, South Jordan, UT 84095, subject to city approval. The parcel tax ID will be updated prior to closing, and the current parcels will be combined into a single parcel upon completion.
The current address is 9822 S Temple Dr, South Jordan, UT 84095. The proposed property address is 1326 W Shields Ln, South Jordan, UT 84095, subject to city approval. The parcel tax ID will be updated prior to closing, and the current parcels will be combined into a single parcel upon completion.
Key Highlights
- Medical office condo suite totaling 2,021 SF (Space 2) in a medical office building
- Currently under construction with anticipated completion in September 2026
- Delivered as a completed shell, giving buyers room to customize the interior
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
$29,302
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
3.21%
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%
$586,040
$586.0K
Cap Rate 7%
$418,600
$418.6K
Cap Rate 9%
$325,578
$325.6K
Market Conditions
NOI Build-Up for 2,021 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
$43.4K $21.48/SF
− Vacancy
−$4.3K −$2.15/SF
EGI
$39.1K $19.33/SF
− OpEx
−$9.8K −$4.83/SF
NOI
$29.3K $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%
$586,040
Cap Rate 7%
$418,600
Cap Rate 9%
$325,578
Alternative Uses
Best Use
Office B
$418.6K
$366.3K – $488.4K
NOI $29,302 @ 7.0% cap · market cap 3.21%
Second Best
Healthcare Medical
$345.5K
$302.3K – $403.1K
NOI $24,184 @ 7.0% cap · market cap 2.65%
Theoretical Best
Multifamily LT 5
$26.91M
$23.55M – $31.40M
NOI $1,883,725 @ 7.0% cap · market cap 206.05%
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
Under-served
Demand for This Use
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?
Medical Office Space - 2,021 SF medical office condominium suite under construction, delivered as a completed shell for interior customization.
Where is this medical office space located?
The property is located at 9822 S TEMPLE DR South Jordan, UT.
What is the asking price?
The asking price for this property is $914,200.
What are key features of this property?
This property features: Medical office condo suite totaling 2,021 SF (Space 2) in a medical office building; Currently under construction with anticipated completion in September 2026; Delivered as a completed shell, giving buyers room to customize the interior
