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    Ogden Land with Redevelopment Potential Title is generated by Realmo AI

    768 W 24TH St S, Ogden, UT 84401

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    Claim this Listing
    For Sale
    $800,000

    LAND - Ogden, UT

    Lot size:
    1.03 Acres
    Added:
    Feb 4, 2026
    Days on Market:
    115
    Last Refresh:
    May 30 at 6:06 pm

    Property Features for 768 W 24TH St S

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Single-Family, Multi-Fami
    Standard status
    Active
    APN
    14-020-0003
    Lot size
    1.03 Acres

    Taxes and HOA fees

    Tax Annual Amount
    3000

    We can help!

    Listing Contact
    Luke Kennard

    Listing agent Luke Kennard

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

    Listing date Feb 4, 2026

    MLS# 2134992 Listing URL

    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

    • Rezone approved for 16+ mixed‑use townhomes with 2‑car garages.
    • Prime 1.03‑acre lot near the upcoming I‑15 interchange, Weber State University, and downtown Ogden.
    • All approvals secured: rezone, development agreement, and code amendment.
    • Potential for Phase 2 expansion with additional acreage.
    • Immediate income potential from vacant single‑family home with proven rental history.
    • Ideal for 1031 exchange buyer with immediate utility and strong future upside.

    Overview

    This 1.03-acre property in Ogden, Utah, presents an opportunity for investors, builders, and developers. The site includes a vacant single-family home with a proven rental history. The property has received rezone approval from the planning commission and City Council for a mixed-use development of 16 or more townhomes. Each townhome is planned to include approximately 1,700 square feet of residential space and 500 square feet of commercial space, along with a 2-car garage. There is potential for a Phase 2 expansion by acquiring additional acreage via a vacated city road. The location is near a new upcoming I-15 interchange, Weber State University, and downtown Ogden. The ongoing redevelopment in Ogden is expected to increase demand for housing and mixed-use projects. The property offers immediate options to lease the existing home for income while pursuing entitlement and build-out. Approvals secured include rezone, development agreement, and code amendment. The property may be suitable for a 1031 exchange buyer seeking immediate utility and future upside. All parcels included in the sale are: 140200004, 140200001, 14020003.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Gym & Fitness Center Skin Care Clinic Accounting Firm Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Ogden
    County
    Weber
    State
    Utah
    Longitude
    -111.997529
    Latitude
    41.223383

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    FAQs

    What type of property is this?
    Residential land & home lot - 1.03-acre lot with redevelopment potential near Weber State University.
    Where is this residential land & home lot located?
    The property is located at 768 W 24TH St S Ogden, UT.
    What is the asking price?
    The asking price for this property is $800,000.
    What are key features of this property?
    This property features: Rezone approved for 16+ mixed‑use townhomes with 2‑car garages.; Prime 1.03‑acre lot near the upcoming I‑15 interchange, Weber State University, and downtown Ogden.; All approvals secured: rezone, development agreement, and code amendment.
    (801) 850-5600
    We can help!
    Listing Contact
    Luke Kennard
    Request Owner's contact information
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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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