79,758 SF Industrial
For Sale
Contact for pricing
389 S Orange St., Salt Lake City, UT 84104
Industrial building with warehouse and office space for sale.
Property Size79,758 SF
Lot Size3.36 Acres
Price / SF$140.59
Days on Market596
Property Features for 389 S Orange St.
General Information
Standard status
Active
Size
79,758 SF
Lot size
3.36 Acres
Property subtype
Industrial
Zoning
M-1
Lease Type
NNN
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Newmark Mountain West
Listed By:
Eli Priest · License #UT 8054624-SA00
Source:
Crexi
Added: Jan 6, 2025
Changed: Aug 16
Last Checked: Aug 24 at 10:14AM
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 Newmark Mountain West
Investment Insights
Based on property information with market context.
This 79,758 square foot building offers a versatile space, including 1,495 square feet of new spec office space and 78,263 square feet of warehouse space. Constructed in 1974, the property is situated on 3.36 acres and is zoned M-1 (Light Manufacturing District). The warehouse has a clear height of 25 feet and features column spacing of 35 feet by 40 feet. It is equipped with a wet sprinkler system and floor drains. The electrical capacity is 800 amps at 277/480V, 3-phase. There are seven dock-high doors, each measuring 10 feet by 10 feet, equipped with bumpers and edge of dock levelers; six of these doors also have seals. Additionally, there are two ground-level doors, each 10 feet by 10 feet. The property includes forty auto parking stalls and offers potential for rail service. The building is divisible to approximately 21,000 SF, 30,800 SF, 40,600 SF, or 58,758 SF. On-site property management is available. The property is located near the junction of I-80 and I-215.
Key Highlights
- Excellent location near the nexus of I‑80 and I‑215.
- Substantial Warehouse Space:** 78,263 SF warehouse divisible to various sizes (±21,000 SF; ±30,800 SF; ±40,600 SF; ±58,758 SF).
- High Clear Height:** 25’ clear height.
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
$658,350
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
5.87%
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%
$13,167,000
$13.2M
Cap Rate 7%
$9,405,000
$9.4M
Cap Rate 9%
$7,315,000
$7.3M
Market Conditions
NOI Build-Up for 79,758 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
$794.4K $9.96/SF
− Vacancy
−$19.9K −$0.25/SF
EGI
$774.5K $9.71/SF
− OpEx
−$116.2K −$1.46/SF
NOI
$658.4K $8.25/SF
Area
Salt Lake City, UT
Vacancy
2.50%
Lease Rate
$9.96 /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%
$13,167,000
Cap Rate 7%
$9,405,000
Cap Rate 9%
$7,315,000
Alternative Uses
Best Use
Warehouse
$9.41M
$8.23M – $10.97M
NOI $658,350 @ 7.0% cap · market cap 5.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$21.49M
$18.80M – $25.07M
NOI $1,504,157 @ 7.0% cap · market cap 13.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
250
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 84104, UT
23,487
Population
8,452
Households
2.8
Avg Household Size
31
Median Age
22%
College-Educated
78%
High-School Grad
21.6 sq mi
ZIP Area
1,087
Density / Sq Mi
$61,326
Median Household Income
$35,013
Median Earnings
$1,235
Median Rent
$318,100
Median Home Value
Market
Vacancy Rate% for Industrial in Salt Lake City, UT
Questions? Ask Rey
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Similar Off Market Nearby
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- CubeSmart Self Storage — 350 S Redwood Rd, Salt Lake City, UT 84104
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial building with warehouse and office space for sale.
Where is this warehouse located?
The property is located at 389 S Orange St. Salt Lake City, UT.
What is the asking price?
The asking price for this property is $11,212,880.
What are key features of this property?
This property features: Excellent location near the nexus of I‑80 and I‑215.; Substantial Warehouse Space:** 78,263 SF warehouse divisible to various sizes (±21,000 SF; ±30,800 SF; ±40,600 SF; ±58,758 SF).; High Clear Height:** 25’ clear height.
