Salt Lake City Retail Market Report
By PropZone Research · Data through Q1 2026 · Aggregated from Cushman & Wakefield, Lee Associates
Quarterly retail market indicators for Salt Lake City, aggregated by PropZone from Cushman & Wakefield, Lee Associates. As of Q1 2026, average asking rent was $27.00/SF with a 3.4% vacancy rate.
Projected current retail pricing — Salt Lake City
low confidenceProjected asking rent
$27.00–$28.50/SF/yr
Estimated sale value
$261–$347/SF
Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q1 2026 Cushman & Wakefield data (cap rate 6.5%, asking rent trend-adjusted to today). Assumes ~97% occupancy and a 65–82% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 | $27.00/SF | 3.4% | 0K SF | — | Cushman & Wakefield |
| Q1 2025 | $29.16/SF | 20.2% | 0K SF | — | Cushman & Wakefield |
| Q4 2023 | — | 5.2% | 59K SF | — | Lee Associates |
| Q3 2017 | $18.20/SF | 5.3% | 329K SF | — | Lee Associates |
Frequently asked questions
- What is the average asking rent for retail space in Salt Lake City?
- As of Q1 2026, the average asking rent for retail space in Salt Lake City was $27.00/SF, per Cushman & Wakefield.
- What is the retail vacancy rate in Salt Lake City?
- The retail vacancy rate in Salt Lake City was 3.4% as of Q1 2026 (Cushman & Wakefield).
- Where does PropZone's Salt Lake City market data come from?
- This report aggregates quarterly retail market data for Salt Lake City from Cushman & Wakefield, Lee Associates.
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