Building Details

Building Size 4,568 SF

Year Built 2019

Listing Agency: Capener & Company LLC Show Phone

Listed By: AnnMaree Conrad Show Phone

Source: Liftrealty

Added: Sep 25 Changed: Oct 3 Last Checked: Oct 2 at 11:04PM

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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 Capener & Company LLC

Investment Insights

Based on property information with market context.

Built in 2019, this four-unit multifamily property contains 4,568 square feet. Each residence has three bedrooms, one and a half bathrooms, a one-car garage, and laundry at bedroom level. A grassy yard and additional parking beside the garages serve the property. Propane supplies gas, and the site uses septic sewer service.

All four units are occupied. The property is situated in a rural agricultural setting in Garland, Utah.

Key Highlights

• Four units, each with 3 bedrooms and 1.5 bathrooms
• 4,568 square feet; built in 2019
• One‑car garage and bedroom‑level laundry in each unit

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

$45,096

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

3.32%

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%

$901,920 $901.9K

Cap Rate 7%

$644,229 $644.2K

Cap Rate 9%

$501,067 $501.1K

Market Conditions

NOI Build-Up for 4,568 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

$68.5K $15.00/SF

− Vacancy

−$4.1K −$0.90/SF

EGI

$64.4K $14.10/SF

− OpEx

−$19.3K −$4.23/SF

NOI

$45.1K $9.87/SF

Area

Box Elder County, UT

Vacancy

5.98%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

30.00%

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%

$901,920

Cap Rate 7%

$644,229

Cap Rate 9%

$501,067

Alternative Uses

Best Use

Multifamily LT 5

$644.2K

$563.7K – $751.6K (±1% cap)

NOI $45,096 @ 7.0% cap · market cap 3.32%

Second Best

Apartment 5plus

$593.2K

$519.1K – $692.1K (±1% cap)

NOI $41,527 @ 7.0% cap · market cap 3.05%

Theoretical Best

Office A

$1.19M

$1.04M – $1.38M (±1% cap)

NOI $83,038 @ 7.0% cap · market cap 6.11%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Quadplexes

Suggested Use

Top Pick Plumbing Service Kitchen & Bath Showroom

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

Lease Details

4

Residential units

100%

Occupancy

Location Intelligence

Trade Area within ½ mile

2

Businesses Nearby

Explore this area Business Placement

Demographics for 84312, UT

4,483

Population

1,573

Households

2.8

Avg Household Size

31

Median Age

23%

College-Educated

87%

High-School Grad

24.8 sq mi

ZIP Area

181

Density / Sq Mi

$77,095

Median Household Income

$44,159

Median Earnings

$912

Median Rent

$336,200

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this quadplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Quadplex - Each residence includes a garage, bedroom-level laundry, and a grassy yard in a rural agricultural setting.

Where is this quadplex located?

The property is located at 16031 N 6000 W Unit 1-4 Garland, UT.

What is the asking price?

The asking price for this property is $1,360,000.

What are key features of this property?

This property features: Four units, each with 3 bedrooms and 1.5 bathrooms; 4,568 square feet; built in 2019; One‑car garage and bedroom‑level laundry in each unit