Mixed-Use Office and Warehouse
New
For Sale
Contact for pricing
111 N Geneva Road, Vineyard, UT 84059
Two-building commercial asset combines industrial capacity with multiple office suites.
Property Size11,261 SF
Price / SF$310.81
Days on Market7
Property Features for 111 N Geneva Road
General Information
Standard status
Active
Size
11,261 SF
Property subtype
Office, Industrial
Warehouse & Industrial
Clear Height
20 ft
Clear Span
Yes
Warehouse Space
7,766 SF
Office Build-Out
3,813 SF
Mezzanine
161 SF
Drive-In Doors
7
Three-Phase Power
Yes
Building Details
Buildings
2
Listing Agency:
Colliers Salt Lake City Downtown
Listed By:
Dan Ford · License #UT 5503930-AB00
(801) 901-0303
Source:
Crexi
Added: Sep 4
Changed: Sep 9
Last Checked: Sep 9 at 4:03PM
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 Colliers Salt Lake City Downtown
Investment Insights
Based on property information with market context.
The property includes two commercial buildings at 111 N Geneva Road. The 11,579-square-foot warehouse contains 3,813 square feet of office area and 7,766 square feet of warehouse space, with 20-foot clear height, 3-phase power, seven ground-level doors, free-span space, and a 161-square-foot mezzanine. An apartment occupies the warehouse building’s northwest corner.
The second building provides 7,448 square feet of office space across two floors. Its first floor measures 3,724 square feet and includes one suite plus eight private executive offices. The 3,724-square-foot second floor contains three suites. Together, the buildings offer distinct warehouse, office, and apartment components within the same property.
The second building provides 7,448 square feet of office space across two floors. Its first floor measures 3,724 square feet and includes one suite plus eight private executive offices. The 3,724-square-foot second floor contains three suites. Together, the buildings offer distinct warehouse, office, and apartment components within the same property.
Key Highlights
- 11,579 SF warehouse building with 3,813 SF of office space and 7,766 SF of warehouse space
- 20' clear height, 3 phase power, and 7 ground level doors
- Free span warehouse area with a 161 SF mezzanine
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
$158,104
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
4.52%
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%
$3,162,080
$3.2M
Cap Rate 7%
$2,258,629
$2.3M
Cap Rate 9%
$1,756,711
$1.8M
Market Conditions
NOI Build-Up for 11,261 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
$270.3K $24.00/SF
− Vacancy
−$59.5K −$5.28/SF
EGI
$210.8K $18.72/SF
− OpEx
−$52.7K −$4.68/SF
NOI
$158.1K $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%
$3,162,080
Cap Rate 7%
$2,258,629
Cap Rate 9%
$1,756,711
Alternative Uses
Best Use
Office B
$2.26M
$1.98M – $2.64M
NOI $158,104 @ 7.0% cap · market cap 4.52%
Second Best
Warehouse
$1.56M
$1.36M – $1.81M
NOI $108,889 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$3.10M
$2.72M – $3.62M
NOI $217,292 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20 ft
Clear height
7
Drive-in doors
Location Intelligence
Trade Area within ½ mile
781
Businesses Nearby
Explore this area
Business Placement
Demographics for 84059, UT
15,567
Population
5,325
Households
2.9
Avg Household Size
25
Median Age
49%
College-Educated
97%
High-School Grad
5.3 sq mi
ZIP Area
2,937
Density / Sq Mi
$101,842
Median Household Income
$41,489
Median Earnings
$1,799
Median Rent
$509,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-building commercial asset combines industrial capacity with multiple office suites.
Where is this mixed-use property located?
The property is located at 111 N Geneva Road Vineyard, UT.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 11,579 SF warehouse building with 3,813 SF of office space and 7,766 SF of warehouse space; 20' clear height, 3 phase power, and 7 ground level doors; Free span warehouse area with a 161 SF mezzanine
