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266 N 590 E, Vineyard, UT 84059
18-unit apartment community with resort-style amenities in Vineyard, Utah.
Property Size17,967 SF
Price / SF$242.05
Days on Market174
Property Features for 266 N 590 E
General Information
Standard status
Active
Size
17,967 SF
Class
A
Property subtype
Multifamily
Zoning
multi Family
Occupancy
89%
Investment Type
Net Lease
Net Operating Income
$232,465
Building Details
Year Built
2017
Buildings
1
Stories
3
Units
18
Listing Agency:
Southern Utah Luxury, Inc
Listed By:
Natasha Isom · License #11328605-pb
Source:
Crexi
Added: Feb 20
Changed: Aug 8
Last Checked: Jul 16 at 9:27AM
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 Southern Utah Luxury, Inc
Investment Insights
Based on property information with market context.
This three-story apartment community, constructed in 2017, is located in Vineyard, Utah. The property contains 18 units with a mix of one- to three-bedroom residences. Each unit includes in-unit laundry, granite counters, stainless steel appliances, and private patios. Community amenities include a clubhouse, pool, 18-person hot tub, fitness center, sports courts, playground, BBQ stations, pet parks, and EV charging. The property is located near the Vineyard UTA FrontRunner station and is minutes from I-15, UVU, BYU, retail, restaurants, and entertainment. The property offers a resort-style lifestyle.
Key Highlights
- Resort‑style amenities including clubhouse, pool, hot tub, fitness center, and more.
- Located in Vineyard, one of Utah County's fastest‑growing markets.
- Built in 2017, offering modern construction.
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
$152,402
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
3.50%
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%
$3,048,040
$3.0M
Cap Rate 7%
$2,177,171
$2.2M
Cap Rate 9%
$1,693,356
$1.7M
Market Conditions
NOI Build-Up for 17,967 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
$291.1K $16.20/SF
− Vacancy
−$14.0K −$0.78/SF
EGI
$277.1K $15.42/SF
− OpEx
−$124.7K −$6.94/SF
NOI
$152.4K $8.48/SF
Area
Utah County, UT
Vacancy
4.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$3,048,040
Cap Rate 7%
$2,177,171
Cap Rate 9%
$1,693,356
Alternative Uses
Best Use
Apartment 5plus
$2.18M
$1.91M – $2.54M
NOI $152,402 @ 7.0% cap · market cap 3.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.95M
$4.33M – $5.78M
NOI $346,691 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
628
Businesses Nearby
Explore this area
Business Placement
Demographics for 84059, UT
15,567
Population
5,325
Households
2.9
Avg Household Size
25
Median Age
49%
College-Educated
97%
High-School Grad
5.3 sq mi
ZIP Area
2,937
Density / Sq Mi
$101,842
Median Household Income
$41,489
Median Earnings
$1,799
Median Rent
$509,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 18-unit apartment community with resort-style amenities in Vineyard, Utah.
Where is this apartment building located?
The property is located at 266 N 590 E Vineyard, UT.
What is the asking price?
The asking price for this property is $4,349,000.
What are key features of this property?
This property features: Resort‑style amenities including clubhouse, pool, hot tub, fitness center, and more.; Located in Vineyard, one of Utah County's fastest‑growing markets.; Built in 2017, offering modern construction.
