411 W 7200 S 19,500 SF 90% Leased Office Building Midvale, UT 84047 $3,600,000 ($184.62/SF) 5.40% Cap Rate

411 W 7200 S is a well-located office investment opportunity positioned just off the 7200 South I-15 exit in Midvale, Utah. The property benefits from excellent freeway visibility, strong access, and consistent demand for affordable professional office space in the central Salt Lake Valley.
The building is comprised of clean, quiet, professional office suites suited for corporate, medical, and service-oriented tenants. The asset has been operated as a full-service office building, offering predictable expenses and stable cash flow.
At the offering price of $3.6M, the property delivers $194,318 in NOI, making it an attractive option for investors seeking steady income with upside through leasing, rent growth, or operational efficiencies.
The property is zoned TOD (Transit Oriented Development) under Midvale City, one of the city’s most flexible and forward-leaning zoning designations. TOD zoning allows for office, retail, mixed-use, and higher-density residential development, providing meaningful long-term optionality beyond the current income stream. On a conceptual basis, the site supports approximately 53 residential units plus a Mixed Use Element, which substantiates the current $3.6 million pricing while leaving upside for a future developer. This redevelopment potential enhances downside protection and positions the asset as both a cash-flowing investment and a strategic land play.