Ogden Retail Space For
For Sale
Contact for pricing
216 24th St, Ogden, UT 84401
Retail space in a high-traffic area, tenant occupied.
Property Size975 SF
Price / SF$368.21
Days on Market176
Property Features for 216 24th St
General Information
Standard status
Active
Size
975 SF
Class
B
Property subtype
Office
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$1,854
Building Details
Year Built
1949
Year Renovated
2023
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Berkshire Hathaway HomeServices Utah Properties Park City
(801) 866-7635
Listed By:
Mark Apuna · License #9520484
Source:
Crexi
Added: Feb 21
Changed: Aug 8
Last Checked: Aug 13 at 2:31PM
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 Berkshire Hathaway HomeServices Utah Properties Park City
Investment Insights
Based on property information with market context.
Located next to Lindquest Field and across from the Summit hotel and Slackwater pizza, this property is also one block from the Junction. The building is in good condition and currently used as a Barber Shop / Hair Salon. Wonderful updates inside give great balance to the traditional Ogden brick. It offers street traffic from a busy 24th Street, walk-by exposure, and exposure from large businesses. Off-street parking and shared rear building parking are available. The current tenant's lease expires on 3/1/2026, and they would like to renew the lease with new terms for 36 months at that time. The property has a size of 975 square feet.
Key Highlights
- Prime location: Next to Lindquest Field, across from the Summit hotel and Slackwater pizza, and a block from the Junction.
- High‑traffic location on 24th Street with excellent visibility.
- Stable, long‑term tenant in place with interest in renewing the lease.
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
$12,604
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
3.51%
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%
$252,080
$252.1K
Cap Rate 7%
$180,057
$180.1K
Cap Rate 9%
$140,044
$140.0K
Market Conditions
NOI Build-Up for 975 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
$19.0K $19.44/SF
− Vacancy
−$948 −$0.97/SF
EGI
$18.0K $18.47/SF
− OpEx
−$5.4K −$5.54/SF
NOI
$12.6K $12.93/SF
Area
Weber County, UT
Vacancy
5.00%
Lease Rate
$19.44 /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%
$252,080
Cap Rate 7%
$180,057
Cap Rate 9%
$140,044
Alternative Uses
Best Use
Retail
$180.1K
$157.6K – $210.1K
NOI $12,604 @ 7.0% cap · market cap 3.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$224.9K
$196.8K – $262.4K
NOI $15,741 @ 7.0% cap · market cap 4.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
351
Businesses Nearby
7k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 86%
Shops & Services 14%
Comfort Suites Ogden Conference Center
Hotels & Casinos
6,250 visits/mo
0.5 miles
Wash N Go Rv Truck Car Wash
Shops & Services
1,022 visits/mo
0.5 miles
Demographics for 84401, UT
42,968
Population
18,615
Households
2.3
Avg Household Size
32
Median Age
26%
College-Educated
90%
High-School Grad
30.7 sq mi
ZIP Area
1,400
Density / Sq Mi
$77,333
Median Household Income
$41,295
Median Earnings
$1,179
Median Rent
$410,700
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Olive & Dahlia — 2336 S Washington Blvd, Ogden, UT 84401
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Frequently Asked Questions
What type of property is this?
Storefront property - Retail space in a high-traffic area, tenant occupied.
Where is this storefront property located?
The property is located at 216 24th St Ogden, UT.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: Prime location: Next to Lindquest Field, across from the Summit hotel and Slackwater pizza, and a block from the Junction.; High‑traffic location on 24th Street with excellent visibility.; Stable, long‑term tenant in place with interest in renewing the lease.
