Updated Medical Office with
For Sale
$410,000
A104-164 E 5900 S, Murray, UT 84107
ADA-compliant professional office with treatment rooms, reception, and a separately accessed lower level.
Property Size2,976 SF
Price / SF$137.77
Days on Market376
Property Features for A104-164 E 5900 S
General Information
Standard status
Active
Size
2,976 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Floor
Main Level, Basement
Office Units
1
Taxes and HOA fees
Annual Taxes
$2,260
Listing Agency:
Spark Realty, LLC
(385) 424-1244
Listed By:
Lisa Turner
(385) 424-1244
Source:
Exprealty
Added: Aug 1, 2025
Changed: Aug 11
Last Checked: Aug 11 at 7:05AM
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 Spark Realty, LLC
Investment Insights
Based on property information with market context.
This medical office property includes 1,488 square feet on the main level and an additional 1,488 square feet in the basement. The existing layout includes two treatment rooms, a dedicated X-ray room, sterilization and preparation space, a private office, file storage, restroom, and reception area. The treatment-room configuration allows for additional operatories, while the lower level has a separate entrance and can support storage, laboratory functions, administrative space, or expansion. The building is ADA compliant and maintained through an office HOA.
Located just off State Street in Murray, the property provides access to I-15 and I-215. Shopping, restaurants, banking, Murray City offices, and the golf course are within minutes, supporting convenient access for patients and staff.
Located just off State Street in Murray, the property provides access to I-15 and I-215. Shopping, restaurants, banking, Murray City offices, and the golf course are within minutes, supporting convenient access for patients and staff.
Key Highlights
- 1,488 SF main‑level medical office with two treatment rooms
- Additional 1,488 SF basement with separate entrance
- Dedicated X‑ray room and sterilization/prep area
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
$35,612
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
8.69%
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%
$712,240
$712.2K
Cap Rate 7%
$508,743
$508.7K
Cap Rate 9%
$395,689
$395.7K
Market Conditions
NOI Build-Up for 2,976 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
$71.4K $24.00/SF
− Vacancy
−$12.1K −$4.06/SF
EGI
$59.4K $19.94/SF
− OpEx
−$23.7K −$7.98/SF
NOI
$35.6K $11.97/SF
Area
Salt Lake County, UT
Vacancy
16.90%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
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%
$712,240
Cap Rate 7%
$508,743
Cap Rate 9%
$395,689
Alternative Uses
Best Use
Office B
$616.4K
$539.4K – $719.2K
NOI $43,149 @ 7.0% cap · market cap 10.52%
Second Best
Healthcare Medical
$508.7K
$445.2K – $593.5K
NOI $35,612 @ 7.0% cap · market cap 8.69%
Theoretical Best
Multifamily LT 5
$39.63M
$34.67M – $46.23M
NOI $2,773,858 @ 7.0% cap · market cap 676.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,865
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 84107, UT
37,713
Population
17,287
Households
2.2
Avg Household Size
34
Median Age
38%
College-Educated
93%
High-School Grad
7.5 sq mi
ZIP Area
5,028
Density / Sq Mi
$73,469
Median Household Income
$46,098
Median Earnings
$1,387
Median Rent
$426,000
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 - ADA-compliant professional office with treatment rooms, reception, and a separately accessed lower level.
Where is this medical office space located?
The property is located at A104-164 E 5900 S Murray, UT.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: 1,488 SF main‑level medical office with two treatment rooms; Additional 1,488 SF basement with separate entrance; Dedicated X‑ray room and sterilization/prep area
