Medical Office
For Sale
Contact for pricing
1159 12th St, Ogden, UT 84404
Medical and general office use is allowed, with existing medical improvements and new HVAC installed in 2023–2024.
Property Size13,434 SF
Price / SF$230.76
Days on Market589
Property Features for 1159 12th St
General Information
Standard status
Active
Size
13,434 SF
Property subtype
OFFICE
Listing Agency:
Mountain West | Northern Utah
(801) 578-5580
Listed By:
Chris Falk, CCIM, SIOR
(385) 429-5500
Source:
Moodyscre
Added: Jan 31, 2025
Changed: Sep 7
Last Checked: Sep 12 at 10:59AM
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 Mountain West | Northern Utah
Investment Insights
Based on property information with market context.
This for-sale office property is approved for medical and general office use and includes existing medical improvements designed to support healthcare workflows. The space also offers generous tenant improvement monies available, supporting flexible customization for an incoming operator.
New HVAC systems were installed in 2023–2024, providing a recently updated mechanical base for day-to-day operations.
Overall, the building is positioned for medical or professional office use with in-place improvements and current HVAC upgrades.
New HVAC systems were installed in 2023–2024, providing a recently updated mechanical base for day-to-day operations.
Overall, the building is positioned for medical or professional office use with in-place improvements and current HVAC upgrades.
Key Highlights
- Medical and general office use allowed
- Existing medical improvements in place
- Generous tenant improvement monies available
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
$182,142
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
5.88%
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%
$3,642,840
$3.6M
Cap Rate 7%
$2,602,029
$2.6M
Cap Rate 9%
$2,023,800
$2.0M
Market Conditions
NOI Build-Up for 13,434 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
$336.9K $25.08/SF
− Vacancy
−$33.4K −$2.48/SF
EGI
$303.6K $22.60/SF
− OpEx
−$121.4K −$9.04/SF
NOI
$182.1K $13.56/SF
Area
Weber County, UT
Vacancy
9.90%
Lease Rate
$25.08 /SF/Yr
Expense Ratio
40.00%
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%
$3,642,840
Cap Rate 7%
$2,602,029
Cap Rate 9%
$2,023,800
Alternative Uses
Best Use
Healthcare Medical
$2.60M
$2.28M – $3.04M
NOI $182,142 @ 7.0% cap · market cap 5.88%
Second Best
Office B
$2.32M
$2.03M – $2.70M
NOI $162,224 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$3.10M
$2.71M – $3.61M
NOI $216,892 @ 7.0% cap · market cap 7.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
265
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 84404, UT
66,382
Population
23,907
Households
2.8
Avg Household Size
32
Median Age
22%
College-Educated
89%
High-School Grad
96.3 sq mi
ZIP Area
689
Density / Sq Mi
$81,917
Median Household Income
$42,844
Median Earnings
$1,304
Median Rent
$352,700
Median Home Value
Check the figures for this property
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?
Medical Office Space - Medical and general office use is allowed, with existing medical improvements and new HVAC installed in 2023–2024.
Where is this medical office space located?
The property is located at 1159 12th St Ogden, UT.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: Medical and general office use allowed; Existing medical improvements in place; Generous tenant improvement monies available
