New Multi-Tenant Warehouse
258 W 3450 N Spanish Fork, UT 84660
For Sale
Contact for pricing
Two new-construction warehouse buildings delivered in 2024 and fully leased under NNN terms with annual increases.
Property Size33,232 SF
Price / SF$260
Days on Market39
Property Features for 258 W 3450 N
General Information
- Standard status
- Active
- Size
- 33,232 SF
- Property subtype
- INDUSTRIAL
Listing Agency:
NAI Premier
(801) 822-6125
Listed By:
John Blatter
(801) 822-6125
Source:
Moodyscre
Added: Jun 18
Changed: Jul 25
Last Checked: Jul 25 at 3:05PM
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 NAI Premier
Investment Insights
Based on property information with market context.
The property consists of two multi-tenant warehouse buildings, both newly constructed in 2024. The offering features nine national and local tenants in total, with 100% leased occupancy. Leases are structured as NNN arrangements with annual increases and a diversified expiration schedule.
The weighted average lease term (WALT) is stated at 3.34 years. The tenant mix includes 24% credit tenants, and the reported cap rate is 5.37%.
The asset is being offered for sale as a fully occupied, NNN investment with an expiration schedule designed to spread lease maturities over time.
The weighted average lease term (WALT) is stated at 3.34 years. The tenant mix includes 24% credit tenants, and the reported cap rate is 5.37%.
The asset is being offered for sale as a fully occupied, NNN investment with an expiration schedule designed to spread lease maturities over time.
Key Highlights
- Two multi‑tenant warehouse buildings delivered in 2024
- 100% leased with NNN leases and annual increases
- Nine (9) tenants with 24% credit tenants
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $398.8k | $12.00 |
| − Vacancy | −$20.7k | −$0.62 |
| EGI | $378.0k | $11.38 |
| − OpEx | −$56.7k | −$1.71 |
| NOI | $321.3k | $9.67 |
33,232 SF · lease $12.00/SF/yr · vacancy 5.20% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$4.59M
$4.02M – $5.36M
NOI $321,340 @ 7.0% cap · market cap 3.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.16M
$8.02M – $10.69M
NOI $641,245 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Warehouses
Similar Off Market Nearby
- Springville Self Storage — 1165 1950 W, Springville, UT 84663
- Springville Home Storage Center — 1672 w 700 s st, springville, ut 84663
FAQs
What type of property is this?
Warehouse - Two new-construction warehouse buildings delivered in 2024 and fully leased under NNN terms with annual increases.
Where is this warehouse located?
The property is located at 258 W 3450 N Spanish Fork, UT.
What is the asking price?
The asking price for this property is $8,640,320.
What are key features of this property?
This property features: Two multi‑tenant warehouse buildings delivered in 2024; 100% leased with NNN leases and annual increases; Nine (9) tenants with 24% credit tenants
