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2834 Highland Dr 2,585 SF Office Building Salt Lake City, UT 84106 $1,123,670 ($434.69/SF) 7.26% Cap Rate

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INVESTMENT HIGHLIGHTS

  • Located on Highland Drive with 20,000+ vehicles per day, the property includes a large electronic sign, enhancing tennant appeal and brand exposure.
  • The building showcases Art Deco / Streamline Moderne design & rooftop patio, making it one of the most architecturally unique propeties in Utah.
  • This landmark Sugar House office property offers investors a rare blend of architectural distinction, prime visibility, and flexible income potential.

EXECUTIVE SUMMARY

Flexible Occupancy | Iconic Architecture | Event-Ready Rooftop
This landmark Sugar House commercial property offers investors a rare combination of architectural distinction, premier visibility, and flexible income potential. Ideally located on Highland Drive with exposure to over 20,000 vehicles per day, the building features a prominent electronic monument sign—providing exceptional brand visibility and long-term tenant appeal. Contact Matt Stout for more information at 801-403-1792.
Beautifully preserved in Art Deco / Streamline Moderne style, this property stands as one of Utah’s most architecturally unique commercial assets. Its historic character, timeless design, and landmark presence create a competitive advantage seldom found in today’s office and mixed-use inventory.
The building features four separate entrances and three versatile floors totaling 2,585 square feet, plus a 350-square-foot rooftop deck with panoramic views and a built-in stage. This layout supports both single-tenant and multi-tenant configurations, offering exceptional flexibility. The property is particularly well-suited for 1031 exchange buyers, partial owner-users, and investors seeking long-term rent growth and multiple leasing strategies.
A standout feature is the expansive rooftop patio with a built-in stage, ideal for tenant functions, private events, brand activations, or boutique rooftop gatherings—adding a unique revenue and lifestyle component rarely available in comparable properties.
The layout and visibility make the property exceptionally well-suited for a variety of uses, including salon or spa concepts, medical or wellness offices, boutique professional suites, gallery or creative space, multi-unit office configurations, and rooftop events or B&B-style private functions.
Key Highlights:
Flexible single-tenant or multi-tenant occupancy
Iconic landmark presence with strong brand identity
High-demand Sugar House location
Event-capable rooftop patio with stage
Ample on-site parking spaces
The property is currently owner-occupied. Sale is subject to a minimum closing date of May 21, 2026. Contact Matt Stout for more information 801-403-1792. Offered with 3% BAC.

FINANCIAL SUMMARY (ACTUAL - 2024)

ANNUAL ANNUAL PER SF
Gross Rental Income $104,491 $40.42
Other Income - -
Vacancy Loss - -
Effective Gross Income $104,491 $40.42
Taxes $5,183 $2.01
Operating Expenses $17,803 $6.89
Total Expenses $22,986 $8.89
Net Operating Income $81,505 $31.53

FINANCIAL SUMMARY (ACTUAL - 2024)

Gross Rental Income
Annual $104,491
Annual Per SF $40.42
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual $104,491
Annual Per SF $40.42
Taxes
Annual $5,183
Annual Per SF $2.01
Operating Expenses
Annual $17,803
Annual Per SF $6.89
Total Expenses
Annual $22,986
Annual Per SF $8.89
Net Operating Income
Annual $81,505
Annual Per SF $31.53

PROPERTY FACTS

Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Office
Building Size
2,585 SF
Building Class
C
Year Built/Renovated
1937/2020
Price
$1,123,670
Price Per SF
$434.69
Cap Rate
7.26%
NOI
$81,578
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
861 SF
Building FAR
0.43
Lot Size
0.14 AC
Zoning
RB - RB Zoning

AMENITIES

  • 24 Hour Access
  • Restaurant
  • Security System
  • Signage
  • Roof Terrace
  • Car Charging Station
  • Monument Signage
  • Outdoor Seating
  • Air Conditioning
  • Balcony
  • Smoke Detector

MAJOR TENANTS

  • TENANT
  • INDUSTRY
  • SF OCCUPIED
  • RENT/SF
  • LEASE END
  • Consumers Financial Company
  • Finance and Insurance
  • -
  • -
  • -
TENANT INDUSTRY SF OCCUPIED RENT/SF LEASE END
Consumers Financial Company Finance and Insurance - - -

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
16-29-229-014-0000
Land Assessment
$300,900 (2025)
Improvements Assessment
$284,700 (2025)
Total Assessment
$585,600 (2025)
Annual Taxes
$5,183 ($2.01/SF)
Tax Year
2024
  • Listing ID: 38910612

  • Date on Market: 12/27/2025

  • Last Updated:

  • Address: 2834 Highland Dr, Salt Lake City, UT 84106

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