Calculate cap rates and net operating income for commercial properties in Utah. Compare your results against Utah's primary market benchmarks sourced from CBRE H2 2025.
Utah's 'Silicon Slopes' (Lehi-Provo-Salt Lake City tech corridor) has become one of the most important tech ecosystems outside Silicon Valley, home to Adobe, Qualtrics, Health Catalyst, and hundreds of software companies. The state has consistently strong population growth, a young workforce, and a business-friendly environment. Data center investment is significant. Industrial along the I-15 corridor benefits from excellent access to Western US markets.
| Property Type | Typical Low % | Typical High % |
|---|---|---|
| Multifamily | 5.0% | 6.5% |
| Industrial | 5.5% | 7.0% |
| Retail | 5.5% | 7.5% |
| Office | 6.0% | 8.5% |
Benchmarks sourced from CBRE H2 2025 Cap Rate Survey, JP Morgan, Matthews, and Cushman & Wakefield market data. Ranges represent typical stabilized assets — actual rates vary by asset quality, location, and market conditions.
Utah cap rates range from 5.0–6.5% for multifamily, 5.5–7.0% for industrial, 5.5–7.5% for retail, and 6.0–8.5% for office. The Salt Lake City metro, especially the Silicon Slopes corridor (Lehi/South Jordan), has the most competitive rates driven by exceptional tech sector growth.
Silicon Slopes refers to Utah's tech corridor stretching from Salt Lake City through Draper, Lehi, and Provo — home to over 6,000 tech companies including Adobe, Qualtrics (acquired by SAP), Ancestry.com, Health Catalyst, Domo, and major offices of Amazon, Microsoft, and Google. This tech concentration has dramatically compressed office and multifamily cap rates and attracted significant institutional investment.
Utah's industrial market benefits from its central intermountain location providing access to Pacific ports (via I-15 and rail), strong e-commerce growth, data center development (Utah Power Grid reliability and water rights make it attractive), and the expanding tech sector creating manufacturing and distribution needs. The Salt Lake City International Airport expansion also supports air cargo industrial demand.
This tool is for informational and educational reference only and does not constitute real estate investment advice. Cap rate benchmarks are estimates based on published industry surveys and may not reflect current conditions in your specific market, submarket, or asset class. Actual cap rates vary significantly based on property condition, location, tenant quality, lease terms, and local market dynamics. Always consult a licensed commercial real estate broker, appraiser, or investment advisor before making real estate investment decisions.