Building Details

Year built 2026

Floors in Building 2

Listing Agency: CENTURY 21 EVEREST IRON Show Phone

Listed By: Dan Brummer Show Phone

Added: Aug 5 Changed: Sep 8 Last Checked: Sep 10 at 11:06AM

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MLS# 26-274830

Copyright © 2026 Washington County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This 6,000-square-foot steel-shell flex building sits on approximately 1.19 acres and is designed for completion around the owner’s requirements. The structure includes three planned bays—two measuring 25' x 60' and one measuring 50' x 60'—along with 1,000 square feet intended for office or residential use. Four 12' x 14' overhead doors have electric openers. The building is constructed on a 6-inch reinforced concrete slab and includes R36 ceiling insulation, R25 wall insulation, and underground plumbing for three full bathrooms and two half baths.

The property is adjacent to SR 130-Minersville Hwy and is zoned Enoch Community Commercial, a designation that allows most commercial businesses or activities subject to applicable requirements. Water service is connected to the building, with three exterior yard hydrants. Underground electrical conduit is installed for four electrical panels, with partial electrical work for light switching, exterior receptacles, exit lights, and garage doors. Parking-area excavation, paving, HVAC, gas lines, bathrooms, and interior finish work remain to be completed.

Key Highlights

• 6,000 square feet on approximately 1.19 acres
• Three planned bays: two at 25' x 60' and one at 50' x 60'
• Four 12' x 14' overhead doors with electric openers

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$56,119

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

4.88%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$1,122,380 $1.1M

Cap Rate 7%

$801,700 $801.7K

Cap Rate 9%

$623,544 $623.5K

Market Conditions

NOI Build-Up for 6,000 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$67.0K $11.16/SF

− Vacancy

−$937 −$0.16/SF

EGI

$66.0K $11.00/SF

− OpEx

−$9.9K −$1.65/SF

NOI

$56.1K $9.35/SF

Area

Iron County, UT

Vacancy

1.40%

Lease Rate

$11.16 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$1,122,380

Cap Rate 7%

$801,700

Cap Rate 9%

$623,544

Alternative Uses

Best Use

Warehouse

$801.7K

$701.5K – $935.3K (±1% cap)

NOI $56,119 @ 7.0% cap · market cap 4.88%

Second Best

Industrial

$660.2K

$577.7K – $770.3K (±1% cap)

NOI $46,216 @ 7.0% cap · market cap 4.02%

Theoretical Best

Office A

$1.23M

$1.07M – $1.43M (±1% cap)

NOI $85,777 @ 7.0% cap · market cap 7.46%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store HVAC Service Tanning Salon Pet Store Wine and Liquor Store Catering Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

31

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 84721, UT

27,329

Population

9,638

Households

2.8

Avg Household Size

29

Median Age

29%

College-Educated

92%

High-School Grad

186.9 sq mi

ZIP Area

146

Density / Sq Mi

$73,342

Median Household Income

$30,662

Median Earnings

$1,076

Median Rent

$345,000

Median Home Value

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Unfinished steel-shell flex property with configurable bays, office or residential space, and Enoch Community Commercial zoning.

Where is this flex space located?

The property is located at 3520 N 420 E Enoch, UT.

What is the asking price?

The asking price for this property is $1,150,000.

What are key features of this property?

This property features: 6,000 square feet on approximately 1.19 acres; Three planned bays: two at 25' x 60' and one at 50' x 60'; Four 12' x 14' overhead doors with electric openers