Flex Industrial Building with Secured
For Sale
$3,600,000
1875 W 1500 S, Salt Lake City, UT 84104
Renovated office components, industrial loading, and controlled yard access support a range of commercial operations.
Property Size14,350 SF
Lot Size1.26 Acres
Price / SF$250.87
Days on Market54
Property Features for 1875 W 1500 S
General Information
Standard status
Active
Size
14,350 SF
Lot size
1.26 Acres
Property subtype
Industrial
Zoning
M-1
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Clear Height
18 ft
Dock-High Doors
3
Drive-In Doors
2
Three-Phase Power
Yes
Taxes and HOA fees
Annual Taxes
$20,160
Amenities
Video Surveillance System
Perimeter Lighting
Automated Gates
Modern Offices
Conference Room
Building Details
Year Built
1952
Buildings
1
Building Size
14,350 SF
Listing Agency:
CRE Specialists, LLC
Listed By:
Justin Welch · License #6561454-PB00
(801) 876-6070
Source:
Acresutah
Added: Jul 28
Changed: Sep 17
Last Checked: Sep 18 at 1:28PM
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 CRE Specialists, LLC
Investment Insights
Based on property information with market context.
This 14,350 SF flex industrial building occupies a 1.26-acre lot with a fully enclosed, secured yard. The property includes modern offices, a conference room, three 8' x 6' dock-high doors, and two 11' x 8' grade-level doors. Clear heights range from 14 to 18 feet, while three-phase power supports industrial operations. Automated gates, perimeter lighting, and interior and exterior video surveillance provide controlled access and site monitoring. The building was constructed in 1952 and has been recently renovated.
Zoned M-1 for light industrial use, the property supports industrial, manufacturing, and distribution activities. Its Salt Lake City location provides access to multiple freeway systems, with more than 50 parking stalls available on site.
Zoned M-1 for light industrial use, the property supports industrial, manufacturing, and distribution activities. Its Salt Lake City location provides access to multiple freeway systems, with more than 50 parking stalls available on site.
Key Highlights
- 14,350 SF flex industrial building on a 1.26‑acre lot
- Fully fenced and secured yard with automated gates
- Three 8' x 6' dock‑high doors and two 11' x 8' grade‑level doors
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
$157,821
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
4.38%
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%
$3,156,420
$3.2M
Cap Rate 7%
$2,254,586
$2.3M
Cap Rate 9%
$1,753,567
$1.8M
Market Conditions
NOI Build-Up for 14,350 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
$258.3K $18.00/SF
− Vacancy
−$15.5K −$1.08/SF
EGI
$242.8K $16.92/SF
− OpEx
−$85.0K −$5.92/SF
NOI
$157.8K $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%
$3,156,420
Cap Rate 7%
$2,254,586
Cap Rate 9%
$1,753,567
Alternative Uses
Best Use
Flex RnD
$2.25M
$1.97M – $2.63M
NOI $157,821 @ 7.0% cap · market cap 4.38%
Second Best
Warehouse
$1.69M
$1.48M – $1.97M
NOI $118,450 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$3.87M
$3.38M – $4.51M
NOI $270,627 @ 7.0% cap · market cap 7.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
18 ft
Clear height
3
Dock-high doors
2
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,819
Businesses Nearby
Under-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 - Renovated office components, industrial loading, and controlled yard access support a range of commercial operations.
Where is this flex space located?
The property is located at 1875 W 1500 S Salt Lake City, UT.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: 14,350 SF flex industrial building on a 1.26‑acre lot; Fully fenced and secured yard with automated gates; Three 8' x 6' dock‑high doors and two 11' x 8' grade‑level doors
