Flex Warehouse with
For Sale
Contact for pricing
Pending
262 South 671 West, Pleasant Grove, UT 84062
Flex warehouse with office component offers 22' clear height and a 12' x 14' grade-level door.
Property Size3,455 SF
Days on Market124
Property Features for 262 South 671 West
General Information
Standard status
Pending
Size
3,455 SF
Class
B
Property subtype
Industrial
Occupancy
100%
Investment Type
Owner/User
Warehouse & Industrial
Clear Height
22 ft
Drive-In Doors
1
Building Details
Year Built
1999
Buildings
1
Tenancy
Single
Listing Agency:
Colliers - Pleasant Grove - Utah County, Utah
Listed By:
David Heninger · License #UT 927382-AB00
Source:
Crexi
Added: May 6
Changed: Aug 8
Last Checked: Aug 7 at 10:01AM
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 - Pleasant Grove - Utah County, Utah
Investment Insights
Based on property information with market context.
This flex warehouse property includes office space and a functional warehouse area, with 22' clear height for efficient storage and operations. Access is provided by a 12' x 14' grade-level door.
The property is located at 262 South 671 West in Pleasant Grove, Utah. It is currently tenanted through September 2026, supporting both owner-user planning and investment ownership goals.
With its combination of warehouse height, grade-level loading access, and on-site office component, the space is well suited for flexible light industrial or distribution-style uses where a dedicated office area is beneficial.
The property is located at 262 South 671 West in Pleasant Grove, Utah. It is currently tenanted through September 2026, supporting both owner-user planning and investment ownership goals.
With its combination of warehouse height, grade-level loading access, and on-site office component, the space is well suited for flexible light industrial or distribution-style uses where a dedicated office area is beneficial.
Key Highlights
- 3,455 SF flex/warehouse with office component
- 22' clear height for warehouse use
- 12' x 14' grade‑level 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
$33,408
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
3.87%
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%
$668,160
$668.2K
Cap Rate 7%
$477,257
$477.3K
Cap Rate 9%
$371,200
$371.2K
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
$41.5K $12.00/SF
− Vacancy
−$2.2K −$0.62/SF
EGI
$39.3K $11.38/SF
− OpEx
−$5.9K −$1.71/SF
NOI
$33.4K $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 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%
$668,160
Cap Rate 7%
$477,257
Cap Rate 9%
$371,200
Alternative Uses
Best Use
Warehouse
$477.3K
$417.6K – $556.8K
NOI $33,408 @ 7.0% cap · market cap 3.87%
Second Best
Industrial
$393.0K
$343.9K – $458.6K
NOI $27,513 @ 7.0% cap · market cap 3.19%
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
154
Businesses Nearby
Under-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 Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex warehouse with office component offers 22' clear height and a 12' x 14' grade-level door.
Where is this flex space located?
The property is located at 262 South 671 West 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 with office component; 22' clear height for warehouse use; 12' x 14' grade‑level door
