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Salt Lake City, UT Commercial Real Estate Market Trends & Data
What Are Current Commercial Real Estate Benchmarks in Salt Lake City?
Salt Lake City commercial properties are averaging $375 per square foot to buy and $781 per square foot to lease, with cap rates near 6.31% across asset types. The data below covers sale prices, lease rates, cap rates, and building sizes by property type to support early-stage market evaluation.
Explore Commercial Properties in Salt Lake City
Browse properties currently for sale or lease to see how local market pricing and building sizes translate into real opportunities.
Salt Lake City's Demographic Profile
Salt Lake City has 88,644 households and a median income of $66,116, providing context for rent absorption and tenant demand across retail and multifamily assets. A 2% five-year population trend is a key signal for evaluating long-term demand in this market.
| Key Demographic Metrics | Value |
|---|---|
| Population | 204,933 |
| # Households | 88,644 |
| Median age | 35 |
| Median household income | $66,116 |
| Avg household size | 2 |
| Renter-occupied housing units | 52,005 |
| 5-year population change | 2% |
Commercial Real Estate Market Snapshot in Salt Lake City
Use the benchmarks below to set initial underwriting baselines for Salt Lake City, typical deal size, entry costs, and cap rate ranges by asset type before evaluating individual listings.
| Key Market Metrics | Value |
|---|---|
| Avg asking sale price | $375 per SF |
| Avg asking lease rate | $781 per SF |
| Avg unit size for lease | 16,929 SF |
| Avg building size for sale | 21,347 SF |
| Average cap rate | 6.31% |
The 6.31% average cap rate reflects current return expectations relative to Salt Lake City pricing and deal scale. Use this alongside asking prices and lease rates to establish initial underwriting assumptions.
Commercial Properties For Sale In Salt Lake City
The listings below reflect how current market pricing and building scale translate into active opportunities available today.
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Commercial Market Metrics by Property Type
Office Building Market Metrics Near Salt Lake City
Office market metrics highlight how pricing, typical deal size, and return expectations vary across submarkets, helping investors compare entry costs and yield potential efficiently.
| Nearby Office Markets | Avg Cost/SF | Typical Size | Cap Max |
|---|---|---|---|
| Salt Lake City | $306 | 12,480 SF | 6.67% |
| Murray | $258 | 23,243 SF | 7.50% |
| Midvale | $235 | 28,142 SF | 8.50% |
| Bountiful | $267 | 11,094 SF | 6.07% |
| Sandy | $275 | 21,562 SF | 8.50% |
Industrial Property Market Metrics Near Salt Lake City
Industrial market data shows how cost per square foot and typical building size differ by submarket, supporting comparisons around deal scale and pricing alignment.
| Nearby Industrial Markets | Avg Cost/SF | Typical Size | Cap Max |
|---|---|---|---|
| Salt Lake City | $282 | 17,638 SF | 7.00% |
| North Salt Lake | $231 | 12,781 SF | 5.55% |
| Sandy | $257 | 25,959 SF | 8.50% |
| Bluffdale | $394 | 14,416 SF | 6.00% |
| Layton | $227 | 19,297 SF | 6.49% |
Retail Property Market Metrics Near Salt Lake City
Retail pricing varies widely across nearby markets, making this comparison useful for identifying where cost per square foot and deal size diverge most.
| Nearby Retail Markets | Avg Cost/SF | Typical Size |
|---|---|---|
| Salt Lake City | $474 | 20,608 SF |
| Sandy | $299 | 14,241 SF |
| South Jordan | $245 | 18,682 SF |
| Park City | $1,244 | 4,549 SF |
| Draper | $384 | 16,135 SF |
Multifamily Property Market Metrics Near Salt Lake City
Multifamily metrics show how pricing and building size relate to observed cap rate ranges, helping investors evaluate income potential relative to entry cost.
| Nearby Multifamily Markets | Avg Cost/SF | Typical Size | Cap Max |
|---|---|---|---|
| Salt Lake City | $280 | 37,726 SF | 6.31% |
| Midvale | $248 | 29,329 SF | 6.20% |
How Investors Evaluate Commercial Real Estate Markets in Salt Lake City
Use these tools to move from market-level signals to deal-level math. Each calculator helps translate Salt Lake City pricing, rents, and building size into concrete metrics like value, income, and space requirements, so you can validate assumptions before spending time on individual listings.
Nearby Commercial Markets
Comparing nearby markets helps investors see whether Salt Lake City pricing and building scale sit above, below, or in line with surrounding areas.
| Commercial Markets | Avg Cost/SF | Average Size |
|---|---|---|
| Salt Lake City | $375 | 21,347 SF |
| Millcreek | $353 | 13,520 SF |
| South Salt Lake | $355 | 11,888 SF |
| Murray | $295 | 22,134 SF |
| Taylorsville | $278 | 77,049 SF |
Multifamily For Sale In Salt Lake City
Multifamily listings shown here connect market pricing and cap rate patterns with income-producing opportunities currently available.
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Regional Demographic Comparison
This comparison places Salt Lake City alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Salt Lake City or distributed across surrounding areas.
| City | Population | # Households | Age | MedianHouseholdIncome | AvgHouseholdSize | RenterOccupiedHousingUnits | FiveYrPopGrowthPct |
|---|---|---|---|---|---|---|---|
| Salt Lake City | 204,933 | 88,644 | 35 | $66,116 | 2 | 52,005 | 2% |
| Millcreek | 34,377 | 14,724 | 37 | $61,011 | 2 | 8,375 | 1% |
| South Salt Lake | 27,405 | 10,770 | 35 | $52,325 | 2 | 7,236 | 1% |
| Murray | 49,315 | 19,835 | 39 | $72,582 | 2 | 7,742 | 1% |
| Taylorsville | 67,385 | 22,430 | 37 | $76,363 | 3 | 7,013 | 3% |
FAQs About Commercial Investing in Salt Lake City
View All Commercial Real Estate For Sale in Salt Lake City
Is Salt Lake City a good market for a first-time commercial real estate investor?
Salt Lake City offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.
How can this market data help me decide whether to buy commercial property for my business in Salt Lake City?
The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Salt Lake City. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.
What should conservative investors focus on when evaluating commercial properties in Salt Lake City?
Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Salt Lake City. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.
How does Salt Lake City compare to nearby commercial real estate markets?
Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Salt Lake City. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.
How can this page support early-stage deal screening for Salt Lake City acquisitions?
This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Salt Lake City, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.
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Commercial Market Reports
- Salt Lake City Commercial Real Estate Properties
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