Free-Span Flex
For Sale
$7,250,000
1664 N 400 E, Vineyard, UT 84059
Open industrial layout with grade-level access and substantial three-phase electrical capacity.
Property Size27,332 SF
Lot Size1.77 Acres
Price / SF$265.26
Days on Market42
Property Features for 1664 N 400 E
General Information
Standard status
Active
Size
27,332 SF
Lot size
1.77 Acres
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
28 ft
Clear Span
Yes
Drive-In Doors
6
Power
400 amps
Voltage
480 V
Three-Phase Power
Yes
Building Details
Year Built
2010
Building Size
27,332 SF
Construction
metal and EIFS
Listing Agency:
KW Utah Realtors Keller Williams (Brickyard)
(801) 326-8800
Listed By:
Shad Selmos · License #9241614SA00
Source:
Buysalty
Added: Jul 20
Changed: Aug 30
Last Checked: Aug 30 at 1:42AM
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 KW Utah Realtors Keller Williams (Brickyard)
Investment Insights
Based on property information with market context.
Built in 2010, this 27,332 SF flex facility offers a column-free interior, 28-foot clear height, and a configuration suited to warehouse, distribution, light manufacturing, and specialized flex operations. Six oversized grade-level doors measure 14' x 12' each, while the building provides 480V at 400 amps and 208V at 225 amps of three-phase power. Metal-and-EIFS construction supports the facility’s industrial profile.
The property occupies 1.77 acres at 1664 N 400 E in Vineyard, with immediate access to I-15 and freeway visibility. It is also located near the Utah City master-planned development. The combination of open floor area, substantial electrical service, loading access, and a sizable site supports a range of industrial configurations.
The property occupies 1.77 acres at 1664 N 400 E in Vineyard, with immediate access to I-15 and freeway visibility. It is also located near the Utah City master-planned development. The combination of open floor area, substantial electrical service, loading access, and a sizable site supports a range of industrial configurations.
Key Highlights
- 27,332 SF industrial flex facility on 1.77 acres
- True free‑span interior with 28‑foot clear height
- Six 14' x 12' grade‑level doors
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
$264,290
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
3.65%
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%
$5,285,800
$5.3M
Cap Rate 7%
$3,775,571
$3.8M
Cap Rate 9%
$2,936,556
$2.9M
Market Conditions
NOI Build-Up for 27,332 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
$328.0K $12.00/SF
− Vacancy
−$17.1K −$0.62/SF
EGI
$310.9K $11.38/SF
− OpEx
−$46.6K −$1.71/SF
NOI
$264.3K $9.67/SF
Area
Utah County, UT
Vacancy
5.20%
Lease Rate
$12.00 /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%
$5,285,800
Cap Rate 7%
$3,775,571
Cap Rate 9%
$2,936,556
Alternative Uses
Best Use
Warehouse
$3.78M
$3.30M – $4.40M
NOI $264,290 @ 7.0% cap · market cap 3.65%
Second Best
Industrial
$3.11M
$2.72M – $3.63M
NOI $217,650 @ 7.0% cap · market cap 3.00%
Theoretical Best
Office A
$7.53M
$6.59M – $8.79M
NOI $527,398 @ 7.0% cap · market cap 7.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
28 ft
Clear height
6
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
334
Businesses Nearby
Under-served
Demand for This Use
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 Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Open industrial layout with grade-level access and substantial three-phase electrical capacity.
Where is this flex space located?
The property is located at 1664 N 400 E Vineyard, UT.
What is the asking price?
The asking price for this property is $7,250,000.
What are key features of this property?
This property features: 27,332 SF industrial flex facility on 1.77 acres; True free‑span interior with 28‑foot clear height; Six 14' x 12' grade‑level doors
