New Multi-Tenant Warehouse
For Sale
Contact for pricing
258 W 3450 N, Spanish Fork, UT 84660
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 Market133
Property Features for 258 W 3450 N
General Information
Standard status
Active
Size
33,232 SF
Property subtype
INDUSTRIAL
Occupancy
100%
Additional Details
Cap Rate
5.37%
Building Details
Year Built
2024
Tenancy
Multi
Listing Agency:
NAI Premier
(801) 255-3333
Listed By:
John Blatter
(801) 822-6125
Source:
Moodyscre
Added: Jun 18
Changed: Oct 26
Last Checked: Oct 26 at 8:09PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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
Estimated NOI and Cap Rate
NOI / Yr
$321,340
Cap Rate
3.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,426,800
$6.4M
Cap Rate 7%
$4,590,571
$4.6M
Cap Rate 9%
$3,570,444
$3.6M
Market Conditions
NOI Build-Up for 33,232 SF
Gross rent
$398.8K $12.00/SF
− Vacancy
−$20.7K −$0.62/SF
EGI
$378.0K $11.38/SF
− OpEx
−$56.7K −$1.71/SF
NOI
$321.3K $9.67/SF
Area
Utah County, UT
Vacancy
5.20%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,426,800
Cap Rate 7%
$4,590,571
Cap Rate 9%
$3,570,444
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 authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
391
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 84660, UT
45,959
Population
13,162
Households
3.5
Avg Household Size
28
Median Age
38%
College-Educated
94%
High-School Grad
362.2 sq mi
ZIP Area
127
Density / Sq Mi
$98,398
Median Household Income
$40,509
Median Earnings
$1,393
Median Rent
$452,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
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
Frequently Asked Questions
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
