Office/Warehouse Flex
For Sale
Contact for pricing
2775 Midland Drive, Ogden, UT 84401
Large office/warehouse building with quick freeway access in the Ogden Commercial & Industrial Park.
Property Size26,112 SF
Price / SF$176.16
Days on Market53
Property Features for 2775 Midland Drive
General Information
Standard status
Active
Size
26,112 SF
Class
C
Property subtype
Retail, Office, Industrial
Zoning
MRD
Occupancy
100%
Investment Type
Owner/User
Additional Details
Highway Access
Yes
Building Details
Year Built
1997
Buildings
1
Tenancy
Single
Listing Agency:
RE/MAX Associates
Listed By:
Luke Myers · License #12861901-SA00
Source:
Crexi
Added: Jul 3
Changed: Aug 22
Last Checked: Aug 24 at 8:27AM
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 RE/MAX Associates
Investment Insights
Based on property information with market context.
This office/warehouse flex building is offered for sale and totals 26,112 square feet. The property is designed to support both office and warehouse needs within a single facility.
Located in the Ogden Commercial & Industrial Park, the building provides quick freeway access, supporting convenient regional connectivity for business operations.
The offering combines office space with warehouse functionality, offering an integrated layout for users who need workplace and storage under one roof.
Located in the Ogden Commercial & Industrial Park, the building provides quick freeway access, supporting convenient regional connectivity for business operations.
The offering combines office space with warehouse functionality, offering an integrated layout for users who need workplace and storage under one roof.
Key Highlights
- 26,112 SF office/warehouse building built in 1997
- Office/warehouse property located in the Ogden Commercial & Industrial Park
- Quick freeway access
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
$194,963
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
4.24%
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%
$3,899,260
$3.9M
Cap Rate 7%
$2,785,186
$2.8M
Cap Rate 9%
$2,166,256
$2.2M
Market Conditions
NOI Build-Up for 26,112 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
$235.0K $9.00/SF
− Vacancy
−$5.6K −$0.22/SF
EGI
$229.4K $8.78/SF
− OpEx
−$34.4K −$1.32/SF
NOI
$195.0K $7.47/SF
Area
Weber County, UT
Vacancy
2.40%
Lease Rate
$9.00 /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%
$3,899,260
Cap Rate 7%
$2,785,186
Cap Rate 9%
$2,166,256
Alternative Uses
Best Use
Warehouse
$2.79M
$2.44M – $3.25M
NOI $194,963 @ 7.0% cap · market cap 4.24%
Second Best
Flex RnD
$2.41M
$2.11M – $2.82M
NOI $169,017 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$6.02M
$5.27M – $7.03M
NOI $421,578 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
473
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 84401, UT
42,968
Population
18,615
Households
2.3
Avg Household Size
32
Median Age
26%
College-Educated
90%
High-School Grad
30.7 sq mi
ZIP Area
1,400
Density / Sq Mi
$77,333
Median Household Income
$41,295
Median Earnings
$1,179
Median Rent
$410,700
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Large office/warehouse building with quick freeway access in the Ogden Commercial & Industrial Park.
Where is this flex space located?
The property is located at 2775 Midland Drive Ogden, UT.
What is the asking price?
The asking price for this property is $4,600,000.
What are key features of this property?
This property features: 26,112 SF office/warehouse building built in 1997; Office/warehouse property located in the Ogden Commercial & Industrial Park; Quick freeway access
