Salt Lake City Retail Market Report
By CREhunt Research · Data through Q1 2026 · Aggregated from Marcus & Millichap, Cushman & Wakefield
Quarterly retail market indicators for Salt Lake City, aggregated by CREhunt from Marcus & Millichap, Cushman & Wakefield. As of Q1 2026, average asking rent was $22.61/SF/yr and vacancy was 4.1%, per Marcus & Millichap.
Projected current retail pricing — Salt Lake City
Projected asking rent
$22.61–$22.73/SF/yr
Estimated sale value
$217–$275/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 Marcus & Millichap data (cap rate 6.5%, asking rent trend-adjusted to today). Assumes ~96% occupancy and a 65–82% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 Marcus & Millichap | $22.61/SF/yr | 4.1% | 485K SF | — | Marcus & Millichap |
| Q1 2025 Cushman & Wakefield | $29.16/SF/yr | 20.2% | 1 SF | — | Cushman & Wakefield |
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 $22.61/SF/yr, per Marcus & Millichap.
- What is the retail vacancy rate in Salt Lake City?
- The retail vacancy rate in Salt Lake City was 4.1% as of Q1 2026 (Marcus & Millichap).
- Where does CREhunt's Salt Lake City market data come from?
- This report aggregates quarterly retail market data for Salt Lake City from Marcus & Millichap, Cushman & Wakefield.
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