Flex Industrial Condo with
For Sale
$570,000
2437 N 1500 W #2, Ogden, UT 84404
Ground-floor flex unit includes heated warehouse space, an at-grade roll-up door, and usable mezzanine with stair access.
Property Size3,350 SF
Price / SF$170.15
Days on Market154
Property Features for 2437 N 1500 W #2
General Information
Standard status
Active
Size
3,350 SF
Warehouse & Industrial
Clear Height
20 ft
Drive-In Doors
1
Additional Details
Highway Access
Yes
Building Details
Year Built
2002
Listing Agency:
Signature Real Estate Utah (Cottonwood Heights)
Listed By:
Josh Floisand · License #12167681-SA00
(801) 815-6557
Source:
Liveutah
Added: Apr 4
Changed: Sep 3
Last Checked: Sep 3 at 3:00AM
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 Signature Real Estate Utah (Cottonwood Heights)
Investment Insights
Based on property information with market context.
This flex industrial condo combines office and warehouse use on the ground floor, totaling about 2,650 square feet based on provided estimates. The unit also includes an additional approximately 700 square feet of usable mezzanine space accessible by stairs, offering extra flexibility for storage or support space. Interior improvements include 20-foot ceilings and a heated warehouse environment. The property features an at-grade roll-up door and dedicated parking for the unit.
The offering is described as minutes from I-15, with the address at 2437 N 1500 W in Ogden, UT. Buyer to verify all information provided, as measurements are estimates.
The offering is described as minutes from I-15, with the address at 2437 N 1500 W in Ogden, UT. Buyer to verify all information provided, as measurements are estimates.
Key Highlights
- Ground‑floor flex industrial condo built in 2002
- 2,650 SF combined office and warehouse space on the ground floor
- About 700 SF of usable mezzanine space with stair access
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
$40,453
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
7.10%
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%
$809,060
$809.1K
Cap Rate 7%
$577,900
$577.9K
Cap Rate 9%
$449,478
$449.5K
Market Conditions
NOI Build-Up for 3,350 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
$58.7K $17.52/SF
− Vacancy
−$4.8K −$1.42/SF
EGI
$53.9K $16.10/SF
− OpEx
−$13.5K −$4.03/SF
NOI
$40.5K $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%
$809,060
Cap Rate 7%
$577,900
Cap Rate 9%
$449,478
Alternative Uses
Best Use
Office B
$577.9K
$505.7K – $674.2K
NOI $40,453 @ 7.0% cap · market cap 7.10%
Second Best
Warehouse
$357.3K
$312.7K – $416.9K
NOI $25,012 @ 7.0% cap · market cap 4.39%
Theoretical Best
Office A
$772.7K
$676.1K – $901.4K
NOI $54,086 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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 flex unit includes heated warehouse space, an at-grade roll-up door, and usable mezzanine with stair access.
Where is this flex space located?
The property is located at 2437 N 1500 W #2 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: Ground‑floor flex industrial condo built in 2002; 2,650 SF combined office and warehouse space on the ground floor; About 700 SF of usable mezzanine space with stair access
