Corner Office and Warehouse
For Sale
$1,950,000
1-2090 W 500 N, Springville, UT 84663
Mixed-use corner unit combines office space with a high-ceiling warehouse and garage door access.
Property Size7,000 SF
Price / SF$278.57
Days on Market156
Property Features for 1-2090 W 500 N
General Information
Standard status
Active
Size
7,000 SF
Additional Details
Highway Access
Yes
Drive-In Doors
1
Taxes and HOA fees
Annual Taxes
$1,396
Listing Agency:
UPT Real Estate
(801) 836-9492
Listed By:
Heather Morley
(801) 836-9492
Source:
Exprealty
Added: Mar 20
Changed: Aug 20
Last Checked: Aug 22 at 9:11AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of UPT Real Estate
Investment Insights
Based on property information with market context.
This corner unit offers a combination of office space and warehouse area within a single building. The property includes more than half office use and a smaller high-ceiling warehouse portion with a garage door. According to the seller, most of the furniture can be included with a good offer.
Located in Springville, the unit is described as having high visibility from the frontage road and I-15. Its configuration supports businesses that need both administrative space and straightforward warehouse/storage space in the same footprint.
For tenants, buyers, or owner-operators looking for flex-style space, the layout provides a dedicated office component while maintaining a warehouse area suitable for activities that benefit from overhead height and garage door access. The corner positioning and frontage road visibility can also be helpful for uses that value customer or visitor recognition. Call for a tour to review the layout and determine how the space fits your operation.
Located in Springville, the unit is described as having high visibility from the frontage road and I-15. Its configuration supports businesses that need both administrative space and straightforward warehouse/storage space in the same footprint.
For tenants, buyers, or owner-operators looking for flex-style space, the layout provides a dedicated office component while maintaining a warehouse area suitable for activities that benefit from overhead height and garage door access. The corner positioning and frontage road visibility can also be helpful for uses that value customer or visitor recognition. Call for a tour to review the layout and determine how the space fits your operation.
Key Highlights
- Corner unit with high visibility from the frontage road and I‑15 in Springville
- Building size over 7,000 SF, with just over half designated as office space
- Includes a high‑ceiling warehouse area
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
$98,280
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
5.04%
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%
$1,965,600
$2.0M
Cap Rate 7%
$1,404,000
$1.4M
Cap Rate 9%
$1,092,000
$1.1M
Market Conditions
NOI Build-Up for 7,000 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
$168.0K $24.00/SF
− Vacancy
−$37.0K −$5.28/SF
EGI
$131.0K $18.72/SF
− OpEx
−$32.8K −$4.68/SF
NOI
$98.3K $14.04/SF
Area
Utah County, UT
Vacancy
22.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,965,600
Cap Rate 7%
$1,404,000
Cap Rate 9%
$1,092,000
Alternative Uses
Best Use
Office B
$1.40M
$1.23M – $1.64M
NOI $98,280 @ 7.0% cap · market cap 5.04%
Second Best
Warehouse
$967.0K
$846.1K – $1.13M
NOI $67,687 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$1.93M
$1.69M – $2.25M
NOI $135,072 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
815
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 84663, UT
35,647
Population
11,025
Households
3.2
Avg Household Size
29
Median Age
39%
College-Educated
95%
High-School Grad
109.7 sq mi
ZIP Area
325
Density / Sq Mi
$88,919
Median Household Income
$39,439
Median Earnings
$1,475
Median Rent
$430,600
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- KINGDOM KITCHEN 801 — 151 S Main St, Springville, UT 84663
- Utah Catering by Magleby's — 198 S Main St, Springville, UT 84663
Frequently Asked Questions
What type of property is this?
Flex space - Mixed-use corner unit combines office space with a high-ceiling warehouse and garage door access.
Where is this flex space located?
The property is located at 1-2090 W 500 N Springville, UT.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Corner unit with high visibility from the frontage road and I‑15 in Springville; Building size over 7,000 SF, with just over half designated as office space; Includes a high‑ceiling warehouse area
