Flex Space with
For Sale
$570,000
2437 N 1500 W, Ogden, UT 84404
Commercial Sale, Ogden, UT
Property Size2,650 SF
Lot Size0.06 Acres
Price / SF$215.09
Days on Market153
Property Features for 2437 N 1500 W
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
M-1
Interior features
Mezzanine: Warehouse
Subdivision
WEBER INDUSTRIAL PARK
Standard status
Active
APN
19-181-0002
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
3035
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Amenities
dedicated parking
Building Details
Year built
2002
Flooring type
Concrete, Carpet
Listing Agency:
Signature Real Estate Utah (Cottonwood Heights)
(702) 413-3200
Listed By:
Josh Floisand · License #12167681-SA00
(801) 815-6557
Added: Mar 23
Changed: Aug 19
Last Checked: Aug 22 at 2:06PM
MLS# 2148079
Copyright © 2026 UtahRealEstate.com. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex industrial condominium combines 2,650 square feet of ground-floor office and warehouse area with approximately 700 square feet of additional mezzanine space. The mezzanine is accessed by stairs, while the main warehouse includes 20-foot ceilings, an at-grade roll-up door, and heating. Concrete and carpet flooring are present, with forced-air natural gas heat and central air conditioning.
The unit includes dedicated parking and is located minutes from I-15 in Ogden. Built in 2002, the property offers a practical combination of office, storage, and work space within a single commercial unit. Measurements are estimated and should be verified by the buyer.
The unit includes dedicated parking and is located minutes from I-15 in Ogden. Built in 2002, the property offers a practical combination of office, storage, and work space within a single commercial unit. Measurements are estimated and should be verified by the buyer.
Key Highlights
- 2,650 sf of ground‑floor office and warehouse space
- Approximately 700 sf of usable mezzanine area with stair access
- 20' ceilings and an at‑grade roll‑up door
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
$32,000
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
5.61%
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%
$640,000
$640.0K
Cap Rate 7%
$457,143
$457.1K
Cap Rate 9%
$355,556
$355.6K
Market Conditions
NOI Build-Up for 2,650 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
$46.4K $17.52/SF
− Vacancy
−$3.8K −$1.42/SF
EGI
$42.7K $16.10/SF
− OpEx
−$10.7K −$4.03/SF
NOI
$32.0K $12.08/SF
Area
Weber County, UT
Vacancy
8.10%
Lease Rate
$17.52 /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%
$640,000
Cap Rate 7%
$457,143
Cap Rate 9%
$355,556
Alternative Uses
Best Use
Office B
$457.1K
$400.0K – $533.3K
NOI $32,000 @ 7.0% cap · market cap 5.61%
Second Best
Warehouse
$282.7K
$247.3K – $329.8K
NOI $19,786 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$611.2K
$534.8K – $713.1K
NOI $42,784 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
321
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 84404, UT
66,382
Population
23,907
Households
2.8
Avg Household Size
32
Median Age
22%
College-Educated
89%
High-School Grad
96.3 sq mi
ZIP Area
689
Density / Sq Mi
$81,917
Median Household Income
$42,844
Median Earnings
$1,304
Median Rent
$352,700
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Ground-floor office and warehouse unit with heated storage, roll-up access, and dedicated parking.
Where is this flex space located?
The property is located at 2437 N 1500 W Ogden, UT.
What is the asking price?
The asking price for this property is $570,000.
What are key features of this property?
This property features: 2,650 sf of ground‑floor office and warehouse space; Approximately 700 sf of usable mezzanine area with stair access; 20' ceilings and an at‑grade roll‑up door
