Building Details

Year Built 2018

Buildings 2

Units 7

Listing Agency: NEXUS Commercial Real Estate

Listed By: Jason Hagblom · License #10491675

Source: Crexi

Added: Aug 11, 2023 Changed: Oct 1 Last Checked: Oct 16 at 6:53AM

Report an Issue

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 NEXUS Commercial Real Estate

Ask AI about this property

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

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

The Rockwell Ridge Business Park is a two-building, 78,291 sq. ft. multi-tenant flex asset. It is currently 100% leased and located off I-15 at the gateway to The Point development, a 600-acre planned community in Draper. The park is supported by six adjacent retail buildings. The seller will lease back 53% of the space for 3-5 years. The remaining 47% is comprised of six units occupied by 4 tenants. All leases are NNN with a WALT of 3.5 years. The Year 1 NOI is $1,158,169 with potential to increase NOI by 41% in 5 years, and increase NOI by 123% in 10 years.

Key Highlights

• 100% leased, multi‑tenant Flex trophy asset.
• Located in the most desired Flex location in Salt Lake County, at the gateway to The Point development.
• Significant NOI growth potential: 41% in 5 years, 123% in 10 years.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$1,229,187

Cap Rate

5.57%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$24,583,740 $24.6M

Cap Rate 7%

$17,559,814 $17.6M

Cap Rate 9%

$13,657,633 $13.7M

Is this asking price fair?

Market Conditions

NOI Build-Up for 78,291 SF

Gross rent

$2.00M $25.56/SF

− Vacancy

−$110.1K −$1.41/SF

EGI

$1.89M $24.15/SF

− OpEx

−$661.9K −$8.45/SF

NOI

$1.23M $15.70/SF

Area

Salt Lake County, UT

Vacancy

5.50%

Lease Rate

$25.56 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$24,583,740

Cap Rate 7%

$17,559,814

Cap Rate 9%

$13,657,633

Alternative Uses

Best Use

Flex RnD

$17.56M

$15.36M – $20.49M (±1% cap)

NOI $1,229,187 @ 7.0% cap · market cap 5.57%

Second Best

Industrial

$7.34M

$6.42M – $8.56M (±1% cap)

NOI $513,640 @ 7.0% cap · market cap 2.33%

Theoretical Best

Multifamily LT 5

$1,042.47M

$912.16M – $1,216.22M (±1% cap)

NOI $72,973,145 @ 7.0% cap · market cap 330.79%

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

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Dental Office Restaurant Real Estate Agency Bakery Building Supply Big Box & Wholesale Store

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

191

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 84065, UT

49,295

Population

15,734

Households

3.1

Avg Household Size

31

Median Age

36%

College-Educated

95%

High-School Grad

20.6 sq mi

ZIP Area

2,393

Density / Sq Mi

$122,809

Median Household Income

$57,158

Median Earnings

$1,783

Median Rent

$595,000

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

Similar For Sale Nearby

See more

Multi-Tenant Flex Building with Parking

14572 S 790 W, Bluffdale, UT 84065

$5,595,000

View details

End-Unit Flex Space

14568 S CENTER POINT Way, Bluffdale, UT 84065

$2,399,000

0.01 Acres

View details

Industrial Condo with Flex Layout

102-14860 S Concord Park Dr, Bluffdale, UT 84065

$2,000,000

View details

Bluffdale Office Condos For Sale

1595 14000 S, Bluffdale, UT 84065

Contact for pricing

View details

Frequently Asked Questions

What type of property is this?

Flex space - Two-building, 78,291 sq. ft. flex asset in Bluffdale, UT.

Where is this flex space located?

The property is located at 14600 Porter Rockwell Blvd Bluffdale, UT.

What is the asking price?

The asking price for this property is $22,060,362.

What are key features of this property?

This property features: 100% leased, multi‑tenant Flex trophy asset.; Located in the most desired Flex location in Salt Lake County, at the gateway to The Point development.; Significant NOI growth potential: 41% in 5 years, 123% in 10 years.