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    Versatile Commercial Industrial Building Title is generated by Realmo AI

    1002 E 450 S, Vernal, UT 84078

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    For Sale
    $2,995,000

    COMMERCIAL - Vernal, UT

    Property size:
    37,050 SF
    Lot size:
    2.71 Acres
    Price / SF:
    $80/SF
    Added:
    Feb 5, 2026
    Days on Market:
    97
    Last Refresh:
    May 13 at 10:06 am

    Property Features for 1002 E 450 S

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Standard status
    Active
    APN
    05:045:0020
    Size
    37,050 SF
    Lot size
    2.71 Acres

    Taxes and HOA fees

    Tax Annual Amount
    18072

    Utilities

    Heating system
    Natural Gas

    Building Details

    Year built
    2006
    Flooring type
    Concrete
    Roof type
    Metal

    We can help!

    Listing Contact
    Cory Jones
    Cory Jones

    Listing agent Cory Jones

    Listing office KW WESTFIELD 998 N 1200 W, Orem, UT

    Listing date Feb 5, 2026

    MLS# 2136300

    Copyright © 2026 UtahRealEstate.com. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Five‑unit commercial industrial building with potential to expand to 12 rentable units plus an extra bay.
    • Each unit features an office with dedicated entrance, 12'x14' overhead doors, and shop entry door.
    • Recent updates include asphalt parking lot sealed and striped (2025), LED lighting (2014), and ice/snow break with new gutters/downspouts/heat tape and French drain (2015).
    • Located near the Vernal Regional Airport.
    • Metal roof and concrete flooring.
    • Natural gas heating.

    Overview

    This well-maintained commercial industrial building, comprising five units, is situated northeast of the Vernal Regional Airport. The property, totaling approximately 37,050 square feet, is suitable as an addition to an investment portfolio. Each unit features an office area with a dedicated glass door entrance, along with a 12'x14' overhead door and an entry door to the shop area. Recent updates include the asphalt parking lot being sealed and striped in 2025, and new LED light fixtures installed throughout in 2014. An ice/snow break, new gutters, downspouts, heat tape, and a French drain were installed in 2015. Originally designed to accommodate 12 units, the building includes an extra bay that has been utilized by the owners and could be rented, offering potential for modification. The adjacent industrial building is also for sale by the same owner. The property is zoned commercial and sits on a 2.71-acre lot in Vernal, Utah.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Department Store Electrical Service Home Appliance Store Pet Store Pet Store & Service

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Bob's BBQ & Catering — E 1100 S, Vernal, UT 84078
    • Living Waters Refreshments — N/A, Vernal, UT 84078

    Location Insight

    • Map
    • Local Demand
    City
    Vernal
    County
    Uintah
    State
    Utah
    Longitude
    -109.50775
    Latitude
    40.390129

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    FAQs

    What type of property is this?
    Flex space - Five-unit commercial building near Vernal Regional Airport.
    Where is this flex space located?
    The property is located at 1002 E 450 S Vernal, UT.
    What is the asking price?
    The asking price for this property is $2,995,000.
    What are key features of this property?
    This property features: Five‑unit commercial industrial building with potential to expand to 12 rentable units plus an extra bay.; Each unit features an office with dedicated entrance, 12'x14' overhead doors, and shop entry door.; Recent updates include asphalt parking lot sealed and striped (2025), LED lighting (2014), and ice/snow break with new gutters/downspouts/heat tape and French drain (2015).
    (385) 255-6829
    We can help!
    Listing Contact
    Cory Jones
    Cory Jones
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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