Industrial Flex Condo with High-Capacity
New
For Sale
$2,800,000
1785 S 4490 W, Salt Lake City, UT 84104
Two-level office space complements a temperature-controlled warehouse with ground-level loading access.
Property Size15,216 SF
Price / SF$184.02
Days on Market3
Property Features for 1785 S 4490 W
General Information
Standard status
Active
Size
15,216 SF
Warehouse & Industrial
Warehouse Space
9,216 SF
Office Build-Out
6,000 SF
Drive-In Doors
4
Power
600 amps
Voltage
208 V
Three-Phase Power
Yes
Heavy Power
Yes
Conditioned Warehouse
Yes
Additional Details
Highway Access
Yes
Building Details
Year Built
1998
Construction
tilt-up concrete
Listing Agency:
Internet Properties Property Management
Listed By:
Nico Priskos · License #9181934-SA00
(801) 413-8902
Source:
Brreutah
Added: Sep 19
Last Checked: Sep 21 at 11:43AM
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 Internet Properties Property Management
Investment Insights
Based on property information with market context.
This industrial flex condominium combines approximately 6,000 SF of office area across two levels with approximately 9,216 SF of warehouse space. The warehouse is temperature controlled with evaporative cooling and radiant heaters, while high ceilings and quality concrete-tilt construction support industrial operations. Four ground-level garage doors measure 14 feet high by 12 feet wide. Electrical service includes 600 Amp, 208 Volt, 3-Phase power, providing substantial capacity for industrial users.
The property is located at 1785 S 4490 W in Salt Lake City, within Salt Lake County and near freeway access. Built in 1998, the unit is configured for either owner occupancy or investment use.
The property is located at 1785 S 4490 W in Salt Lake City, within Salt Lake County and near freeway access. Built in 1998, the unit is configured for either owner occupancy or investment use.
Key Highlights
- Approximately 15,216 SF total, including approximately 6,000 SF of office and 9,216 SF of warehouse space
- Four ground‑level garage doors measuring 14' high x 12' wide
- 600 Amp, 208 Volt, 3‑Phase power
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
$167,346
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
5.98%
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%
$3,346,920
$3.3M
Cap Rate 7%
$2,390,657
$2.4M
Cap Rate 9%
$1,859,400
$1.9M
Market Conditions
NOI Build-Up for 15,216 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
$273.9K $18.00/SF
− Vacancy
−$16.4K −$1.08/SF
EGI
$257.5K $16.92/SF
− OpEx
−$90.1K −$5.92/SF
NOI
$167.3K $11.00/SF
Area
Salt Lake City, UT
Vacancy
6.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$3,346,920
Cap Rate 7%
$2,390,657
Cap Rate 9%
$1,859,400
Alternative Uses
Best Use
Flex RnD
$2.39M
$2.09M – $2.79M
NOI $167,346 @ 7.0% cap · market cap 5.98%
Second Best
Warehouse
$1.79M
$1.57M – $2.09M
NOI $125,598 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$4.10M
$3.59M – $4.78M
NOI $286,959 @ 7.0% cap · market cap 10.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Drive-in doors
Yes
Heavy power
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
484
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 84104, UT
23,487
Population
8,452
Households
2.8
Avg Household Size
31
Median Age
22%
College-Educated
78%
High-School Grad
21.6 sq mi
ZIP Area
1,087
Density / Sq Mi
$61,326
Median Household Income
$35,013
Median Earnings
$1,235
Median Rent
$318,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Salt Lake City, UT
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Frequently Asked Questions
What type of property is this?
Flex space - Two-level office space complements a temperature-controlled warehouse with ground-level loading access.
Where is this flex space located?
The property is located at 1785 S 4490 W Salt Lake City, UT.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Approximately 15,216 SF total, including approximately 6,000 SF of office and 9,216 SF of warehouse space; Four ground‑level garage doors measuring 14' high x 12' wide; 600 Amp, 208 Volt, 3‑Phase power
