Flex Light-Industrial
For Sale
Contact for pricing
2265 1300 West, Salt Lake City, UT 84119
B/RP zoned building with 11' clear height and two grade-level overhead doors for flexible office, showroom, and light-industrial use.
Property Size12,028 SF
Price / SF$170.02
Days on Market64
Property Features for 2265 1300 West
General Information
Standard status
Active
Size
12,028 SF
Class
C
Property subtype
Office, Industrial
Zoning
B/RP
Lease Type
NNN
Investment Type
Owner/User
Building Details
Year Built
1984
Year Renovated
2017
Buildings
1
Stories
1
Units
49
Tenancy
Multi
Listing Agency:
NEXUS Commercial Real Estate
Listed By:
Jason Hagblom · License #10491675
Source:
Crexi
Added: Jun 10
Changed: Aug 8
Last Checked: Aug 11 at 12:21PM
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 NEXUS Commercial Real Estate
Investment Insights
Based on property information with market context.
This property is a flex light-industrial building designed to support a wide range of office, showroom, light-manufacturing and assembly, service, and storage uses under B/RP (Business/Research Park) zoning. It features 11’ clear height and two grade-level (10’x10’) overhead doors, providing practical drive-in loading for service-oriented and light-industrial operators. The building is set up as a four-unit configuration, offering the ability to occupy, lease, or combine space to fit an operator’s needs.
Located in West Valley City, Utah, the property sits within a business-park submarket with access to the 2100 South / SR-201 corridor. The site is positioned with rapid connections to the I-15 / I-80 interchange to the east and the I-215 beltway to the west. The location also supports regional reach to Salt Lake International Airport and the Union Pacific intermodal hub.
With office, showroom, service, and storage all contemplated by zoning and building design, this asset is well suited for an owner-user that needs a mix of working space and customer-facing area. The four-unit layout can also support a tenant-occupant strategy where space is leased while other portions are used operationally, providing configuration flexibility that can be useful for right-sizing within a single building.
Located in West Valley City, Utah, the property sits within a business-park submarket with access to the 2100 South / SR-201 corridor. The site is positioned with rapid connections to the I-15 / I-80 interchange to the east and the I-215 beltway to the west. The location also supports regional reach to Salt Lake International Airport and the Union Pacific intermodal hub.
With office, showroom, service, and storage all contemplated by zoning and building design, this asset is well suited for an owner-user that needs a mix of working space and customer-facing area. The four-unit layout can also support a tenant-occupant strategy where space is leased while other portions are used operationally, providing configuration flexibility that can be useful for right-sizing within a single building.
Key Highlights
- 1984‑built building in Business/Research Park (B/RP) zoning for office, showroom, light‑manufacturing/assembly, service, and storage uses
- 11' clear height plus two grade‑level (10' x 10') overhead doors for convenient drive‑in loading
- Four‑unit configuration provides flexibility to occupy, lease, or use a blend of both
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
$174,394
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
8.53%
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%
$3,487,880
$3.5M
Cap Rate 7%
$2,491,343
$2.5M
Cap Rate 9%
$1,937,711
$1.9M
Market Conditions
NOI Build-Up for 12,028 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
$258.4K $21.48/SF
− Vacancy
−$25.8K −$2.15/SF
EGI
$232.5K $19.33/SF
− OpEx
−$58.1K −$4.83/SF
NOI
$174.4K $14.50/SF
Area
Salt Lake City, UT
Vacancy
10.00%
Lease Rate
$21.48 /SF/Yr
Expense Ratio
25.00%
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%
$3,487,880
Cap Rate 7%
$2,491,343
Cap Rate 9%
$1,937,711
Alternative Uses
Best Use
Office B
$2.49M
$2.18M – $2.91M
NOI $174,394 @ 7.0% cap · market cap 8.53%
Second Best
Flex RnD
$1.89M
$1.65M – $2.20M
NOI $132,284 @ 7.0% cap · market cap 6.47%
Theoretical Best
Office A
$3.24M
$2.84M – $3.78M
NOI $226,836 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
559
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 84119, UT
54,143
Population
16,811
Households
3.2
Avg Household Size
31
Median Age
16%
College-Educated
79%
High-School Grad
11.5 sq mi
ZIP Area
4,708
Density / Sq Mi
$66,616
Median Household Income
$35,676
Median Earnings
$1,418
Median Rent
$341,800
Median Home Value
Market
Vacancy Rate% for Office in Salt Lake City, UT
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - B/RP zoned building with 11' clear height and two grade-level overhead doors for flexible office, showroom, and light-industrial use.
Where is this flex space located?
The property is located at 2265 1300 West Salt Lake City, UT.
What is the asking price?
The asking price for this property is $2,045,000.
What are key features of this property?
This property features: 1984‑built building in Business/Research Park (B/RP) zoning for office, showroom, light‑manufacturing/assembly, service, and storage uses; 11' clear height plus two grade‑level (10' x 10') overhead doors for convenient drive‑in loading; Four‑unit configuration provides flexibility to occupy, lease, or use a blend of both
