Multifamily Property with 48
For Sale
Contact for pricing
Pending
160 N Main St, Clearfield, UT 84015
48-unit multifamily property available for sale.
Property Size81,600 SF
Days on Market163
Property Features for 160 N Main St
General Information
Standard status
Pending
Size
81,600 SF
Property subtype
Multifamily
Building Details
Year Built
2023
Buildings
8
Units
48
Listing Agency:
Marcus & Millichap - Salt Lake City
Listed By:
Jake Miles · License #UT 11449836-SA00
Source:
Crexi
Added: Mar 2
Changed: Aug 8
Last Checked: Aug 8 at 6:32AM
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 Marcus & Millichap - Salt Lake City
Investment Insights
Based on property information with market context.
This multifamily property features 48 units. The property size is 81,600 square feet. It is located at 160 N Main St, Clearfield, UT 84015.
Key Highlights
- Multifamily property with 48 units.
- Built in 2023 (new construction).
- Price per unit: $385,417.
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
$928,208
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
5.02%
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%
$18,564,160
$18.6M
Cap Rate 7%
$13,260,114
$13.3M
Cap Rate 9%
$10,313,422
$10.3M
Market Conditions
NOI Build-Up for 81,600 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
$1.88M $22.98/SF
− Vacancy
−$187.5K −$2.30/SF
EGI
$1.69M $20.68/SF
− OpEx
−$759.4K −$9.31/SF
NOI
$928.2K $11.38/SF
Area
Davis County, UT
Vacancy
10.00%
Lease Rate
$22.98 /SF/Yr
Expense Ratio
45.00%
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%
$18,564,160
Cap Rate 7%
$13,260,114
Cap Rate 9%
$10,313,422
Alternative Uses
Best Use
Apartment 5plus
$13.26M
$11.60M – $15.47M
NOI $928,208 @ 7.0% cap · market cap 5.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$18.85M
$16.49M – $21.99M
NOI $1,319,231 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
601
Businesses Nearby
Explore this area
Business Placement
Demographics for 84015, UT
68,548
Population
23,058
Households
3
Avg Household Size
30
Median Age
25%
College-Educated
93%
High-School Grad
20.8 sq mi
ZIP Area
3,296
Density / Sq Mi
$92,634
Median Household Income
$43,208
Median Earnings
$1,385
Median Rent
$377,200
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
Apartment building - 48-unit multifamily property available for sale.
Where is this apartment building located?
The property is located at 160 N Main St Clearfield, UT.
What is the asking price?
The asking price for this property is $18,500,000.
What are key features of this property?
This property features: Multifamily property with 48 units.; Built in 2023 (new construction).; Price per unit: $385,417.
