Office/Warehouse Campus with Development
For Sale
Contact for pricing
1199 W 700 S, Pleasant Grove, UT
98,520 SF campus with expansion potential near I-15.
Property Size98,520 SF
Lot Size12.50 Acres
Price / SF$252.74
Days on Market848
Property Features for 1199 W 700 S
General Information
Standard status
Active
Size
98,520 SF
Lot size
12.50 Acres
Property subtype
OFFICE
Listing Agency:
Colliers | Salt Lake City Millrock
(801) 947-8300
Listed By:
Brandon Fugal · License #5477023-SA00
(801) 947-8328
Source:
Moodyscre
Added: Jun 24, 2024
Changed: Jul 6
Last Checked: Oct 16 at 1:47PM
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 Millrock
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Investment Insights
Based on property information with market context.
This unique purchase opportunity features an established upscale commercial campus headquarters located just off the Pleasant Grove I-15 Interchange (Exit 275), providing ideal access, visibility, and opportunity. The property is in close proximity to numerous new restaurants and hospitality amenities. The 98,520 square foot campus includes a 27,180 square foot office building and a 71,340 square foot warehouse/production building. Situated on 12.48 acres, the offering includes the opportunity to develop approximately 6.62 acres located within the total acreage. This strategically located office/warehouse property in Utah features a stunning unobstructed mountain backdrop.
Key Highlights
- Strategically located office/warehouse property with ideal access and visibility off I‑15.
- Substantial 98,520 square foot campus including a 27,180 square foot office building and a 71,340 square foot warehouse/production building.
- Significant value‑add opportunity with 6.62 acres available for expansion/development.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,383,221
Cap Rate
5.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$27,664,420
$27.7M
Cap Rate 7%
$19,760,300
$19.8M
Cap Rate 9%
$15,369,122
$15.4M
Market Conditions
NOI Build-Up for 98,520 SF
Gross rent
$2.36M $24.00/SF
− Vacancy
−$520.2K −$5.28/SF
EGI
$1.84M $18.72/SF
− OpEx
−$461.1K −$4.68/SF
NOI
$1.38M $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 Rate 5%
$27,664,420
Cap Rate 7%
$19,760,300
Cap Rate 9%
$15,369,122
Alternative Uses
Best Use
Office B
$19.76M
$17.29M – $23.05M
NOI $1,383,221 @ 7.0% cap · market cap 5.56%
Second Best
Warehouse
$13.61M
$11.91M – $15.88M
NOI $952,649 @ 7.0% cap · market cap 3.83%
Theoretical Best
Office A
$27.16M
$23.76M – $31.68M
NOI $1,901,042 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
797
Businesses Nearby
Well-served
Demand for This Use
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Warehouse - 98,520 SF campus with expansion potential near I-15.
Where is this warehouse located?
The property is located at 1199 W 700 S Pleasant Grove, UT.
What is the asking price?
The asking price for this property is $24,900,000.
What are key features of this property?
This property features: Strategically located office/warehouse property with ideal access and visibility off I‑15.; Substantial 98,520 square foot campus including a 27,180 square foot office building and a 71,340 square foot warehouse/production building.; Significant value‑add opportunity with 6.62 acres available for expansion/development.
