Building Details

Building Size 1,500 SF

Year Built 2024

Stories 1

Listing Agency: CENTURY 21 EVEREST ST GEORGE t***@c21everest.com Show Phone

Listed By: BRYAN S BURNETT · License #5496981-SA Show Phone

Source: Hindihometeam

Added: May 1, 2024 Changed: Oct 25 Last Checked: Oct 26 at 4:03AM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

Built in 2024, these insulated warehouse condominiums are located within a private facility. Units include air conditioning and heating, a powered roll-up door, a 50 AMP plug, a 100 AMP panel, and 110-volt outlets throughout. Office space and additional storage can be added.

Facility amenities include a clubhouse, restrooms, a water tap, and an air hose. The units may accommodate storage or hobby uses, including motorhomes, boats, and classic cars.

Key Highlights

• 2024 construction
• Insulated warehouse condominium units in a private facility
• Air conditioning and heating

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$12,696

Cap Rate

4.19%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$253,920 $253.9K

Cap Rate 7%

$181,371 $181.4K

Cap Rate 9%

$141,067 $141.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,500 SF

Gross rent

$16.2K $10.80/SF

− Vacancy

−$1.3K −$0.84/SF

EGI

$14.9K $9.96/SF

− OpEx

−$2.2K −$1.49/SF

NOI

$12.7K $8.46/SF

Area

Washington County, UT

Vacancy

7.80%

Lease Rate

$10.80 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$253,920

Cap Rate 7%

$181,371

Cap Rate 9%

$141,067

Alternative Uses

Best Use

Warehouse

$181.4K

$158.7K – $211.6K (±1% cap)

NOI $12,696 @ 7.0% cap · market cap 4.19%

Second Best

Flex RnD

$153.3K

$134.1K – $178.8K (±1% cap)

NOI $10,729 @ 7.0% cap · market cap 3.54%

Theoretical Best

Specialty Retail

$413.1K

$361.4K – $481.9K (±1% cap)

NOI $28,914 @ 7.0% cap · market cap 9.54%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Restaurant Law Firm Hair Salon Spa & Massage Center Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

234

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 84780, UT

28,025

Population

12,922

Households

2.2

Avg Household Size

36

Median Age

35%

College-Educated

94%

High-School Grad

61.8 sq mi

ZIP Area

453

Density / Sq Mi

$94,103

Median Household Income

$42,098

Median Earnings

$1,581

Median Rent

$511,700

Median Home Value

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Warehouse - Climate-controlled units offer electrical service and access to shared restroom and clubhouse amenities.

Where is this warehouse located?

The property is located at Bldg E 24 E Industrial Dr Washington, UT.

What is the asking price?

The asking price for this property is $303,000.

What are key features of this property?

This property features: 2024 construction; Insulated warehouse condominium units in a private facility; Air conditioning and heating