Population
205,000
Growth (5Y)
+10.2%
Median Income
$74,000
Metro GDP
$118B
Market Overview
Salt Lake City is the gateway to the Mountain West and home to one of the nation's most dynamic emerging tech ecosystems — Silicon Slopes. The corridor between SLC and Provo hosts Adobe, Qualtrics, eBay, and hundreds of tech startups, creating a high-income tech workforce that supports strong NNN retail performance. Utah's youngest major metro population means long-term structural population growth tailwinds. Cap rates of 5.0–6.5% are attractive given the market's growth trajectory.
Key Highlights
Silicon Slopes tech corridor is one of the fastest-growing tech ecosystems in the US
Youngest average age of any US metro drives consistent population and labor force growth
Goldman Sachs' largest global office outside New York is in Salt Lake City
Utah's 4.65% flat income tax and low regulation make it a top business climate
Why Invest in Salt Lake City
- 1Silicon Slopes tech corridor creates a high-income workforce rivaling established tech markets
- 2Youngest median age of any major metro ensures long-term structural population growth
- 3Goldman Sachs largest non-NYC office provides blue-chip financial sector anchor
- 4Mountain West gateway position drives logistics, outdoor recreation, and tourism economy
Recent NNN Activity
"Salt Lake City NNN market posted $230M in transactions in 2024. The South Jordan, Sandy, and Lehi (Silicon Slopes) corridors were most active for new NNN development. Tech-adjacent service tenants showed strong demand."
NNN Snapshot
Cap Rate Range
5% - 6.5%
Price Range
$1.7M - $5.0M
Avg Lease Term
13 Years
Unemployment Rate
2.8%
Active NNN Tenants
McDonald'sHarmons (grocery)AutoZoneWalgreensStarbucks7-ElevenDollar General
Major Employers
Goldman SachsMicrosoftAdobeQualtricseBayOverstockIntermountain Health
Find NNN Properties in Salt Lake City
Our advisors have exclusive, off-market NNN inventory in the Salt Lake City market right now. Contact us to see what's available before it hits the public market.