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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



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.
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 | - | - | - |
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Property Taxes
| Parcel Number | 16-29-229-014-0000 | Total Assessment | $585,600 (2025) |
| Land Assessment | $300,900 (2025) | Annual Taxes | $5,183 ($2.01/SF) |
| Improvements Assessment | $284,700 (2025) | Tax Year | 2024 |
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
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Videos
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Photos
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Presented by
Stout Investments
2834 Highland Dr
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