Flex Warehouse with Office
For Sale
Contact for pricing
262-272 S 671 W, Pleasant Grove, UT 84062
Flex/warehouse includes a heated warehouse, 22’ clear height, and a second-floor office mezzanine with restroom.
Property Size3,455 SF
Price / SF$250
Days on Market63
Property Features for 262-272 S 671 W
General Information
Standard status
Active
Size
3,455 SF
Property subtype
FLEX_R_AND_D
Warehouse & Industrial
Clear Height
22 ft
Drive-In Doors
1
Listing Agency:
Colliers | Utah County
(801) 610-1300
Listed By:
David Heninger
(801) 666-4260
Source:
Moodyscre
Added: Jul 13
Changed: Sep 6
Last Checked: Sep 12 at 9:36AM
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 Colliers | Utah County
Investment Insights
Based on property information with market context.
This flex/warehouse opportunity features a functional warehouse layout with 22’ clear height and one 12’ x 14’ grade-level door. A dedicated tool/storage room supports day-to-day operations, while the warehouse is heated. Office space is located on the second floor and includes a mezzanine and an internal restroom, with the office being swamp-cooled.
The property is currently owner-occupied and leased through September 2026, with the existing tenant expressing interest in renewing.
Overall, the configuration combines high-clear warehouse space with a dedicated two-level office arrangement, making it well-suited for an owner-user or an investor seeking existing in-place occupancy.
The property is currently owner-occupied and leased through September 2026, with the existing tenant expressing interest in renewing.
Overall, the configuration combines high-clear warehouse space with a dedicated two-level office arrangement, making it well-suited for an owner-user or an investor seeking existing in-place occupancy.
Key Highlights
- 3,455 SF flex/warehouse in Pleasant Grove with heated warehouse and second‑floor office mezzanine
- Warehouse offers 22’ clear height plus one 12’ x 14’ grade‑level door
- Dedicated tool/storage room in the warehouse for additional utility
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
$48,508
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
5.62%
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%
$970,160
$970.2K
Cap Rate 7%
$692,971
$693.0K
Cap Rate 9%
$538,978
$539.0K
Market Conditions
NOI Build-Up for 3,455 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
$82.9K $24.00/SF
− Vacancy
−$18.2K −$5.28/SF
EGI
$64.7K $18.72/SF
− OpEx
−$16.2K −$4.68/SF
NOI
$48.5K $14.04/SF
Area
Utah County, UT
Vacancy
22.00%
Lease Rate
$24.00 /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%
$970,160
Cap Rate 7%
$692,971
Cap Rate 9%
$538,978
Alternative Uses
Best Use
Office B
$693.0K
$606.4K – $808.5K
NOI $48,508 @ 7.0% cap · market cap 5.62%
Second Best
Warehouse
$477.3K
$417.6K – $556.8K
NOI $33,408 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$952.4K
$833.4K – $1.11M
NOI $66,668 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
22 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
1,252
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 84062, UT
47,771
Population
14,649
Households
3.3
Avg Household Size
28
Median Age
43%
College-Educated
96%
High-School Grad
50.7 sq mi
ZIP Area
942
Density / Sq Mi
$101,584
Median Household Income
$41,079
Median Earnings
$1,617
Median Rent
$479,800
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex/warehouse includes a heated warehouse, 22’ clear height, and a second-floor office mezzanine with restroom.
Where is this flex space located?
The property is located at 262-272 S 671 W Pleasant Grove, UT.
What is the asking price?
The asking price for this property is $863,750.
What are key features of this property?
This property features: 3,455 SF flex/warehouse in Pleasant Grove with heated warehouse and second‑floor office mezzanine; Warehouse offers 22’ clear height plus one 12’ x 14’ grade‑level door; Dedicated tool/storage room in the warehouse for additional utility
