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    Industrial Land Build-to-Suit Site Title is generated by Realmo AI

    2221 Lester Street, West Valley City, UT 84128

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    15-acre industrial land offering build-to-suit flexibility for warehousing and distribution uses near major regional roadways.

    Type:Land / Commercial
    Property size:
    653,400 SF
    Lot size:
    15.00 Acres
    Added:
    Jun 16, 2025
    Days on Market:
    356
    Last Refresh:
    Jun 6 at 5:40 am

    Property Features for 2221 Lester Street

    General Information

    Standard status
    Active
    Size
    653,400 SF
    Lot size
    15.00 Acres
    Property subtype
    Land / Commercial

    We can help!

    Listing Contact
    Jessica Williams

    Listing agent Jessica Williams License #6978485

    Listing office Real Broker, LLC

    Listing date Jun 16, 2025

    Source Compass

    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 Real Broker, LLC

    HighLights

    • 15‑acre industrial land with build‑to‑suit flexibility for warehousing and distribution uses
    • Build‑to‑suit space can be customized from 10,000 to 200,000 sq ft
    • Site offers access to I‑15, SR‑201, and the Mountain View Corridor
    • Located in West Valley near major regional roadways

    Overview

    This offering presents a 15-acre industrial land parcel positioned for build-to-suit development. The site is marketed with the flexibility to accommodate a wide range of industrial facility sizes, with build-to-suit space described from 10,000 up to 200,000 square feet.

    The property address is 2221 Lester Street in West Valley City, Utah. Public remarks highlight direct, seamless access to I-15, SR-201, and the Mountain View Corridor, supporting convenient connectivity for logistics and day-to-day operations.

    For tenants, buyers, and developers considering an industrial build-to-suit, this parcel is designed to support a tailored facility footprint rather than an existing warehouse configuration. The stated size range makes it relevant for operators scaling up or planning distribution- and warehousing-oriented facilities within a single owned development site. Prospective users should review the development requirements and feasibility for their specific program, since the property is presented as a land canvas for construction aligned with the user’s build-out needs.
    Location Intelligence

    Current Use by Public Records

    Industrial land

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    West Valley City
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.935458
    Latitude
    40.715248

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    FAQs

    What type of property is this?
    Industrial land - 15-acre industrial land offering build-to-suit flexibility for warehousing and distribution uses near major regional roadways.
    Where is this industrial land located?
    The property is located at 2221 Lester Street West Valley City, UT.
    What are key features of this property?
    This property features: 15‑acre industrial land with build‑to‑suit flexibility for warehousing and distribution uses; Build‑to‑suit space can be customized from 10,000 to 200,000 sq ft; Site offers access to I‑15, SR‑201, and the Mountain View Corridor
    (801) 380-7676
    We can help!
    Listing Contact
    Jessica Williams
    Real Estate License ID: 6978485
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    2221 Lester Street, West Valley City, UT 84128
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