Manufacturing Flex
New
For Sale
$7,000,000
3131 W 2210 S, Salt Lake City, UT 84119
Fenced, paved manufacturing property combining substantial office/showroom area with warehouse space and high-capacity electrical service.
Property Size45,519 SF
Lot Size5.00 Acres
Price / SF$153.78
Days on Market4
Property Features for 3131 W 2210 S
General Information
Standard status
Active
Size
45,519 SF
Lot size
5.00 Acres
Property subtype
Office
Zoning
manufacturing
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Utilities to Site
Yes
Warehouse & Industrial
Warehouse Space
8,685 SF
Office Build-Out
36,834 SF
Power
1,800 amps
Voltage
208 V
Three-Phase Power
Yes
Additional Details
Asking Price
$7,000,000
Building Details
Buildings
1
Building Size
45,519 SF
Listing Agency:
Salt Lake City - Millrock
(801) 441-5918
Listed By:
William Riedel · License #13911643-SA00
(801) 441-5918
Source:
Colliers
Added: Aug 28
Changed: Aug 30
Last Checked: Aug 30 at 8:44PM
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 Salt Lake City - Millrock
Investment Insights
Based on property information with market context.
This manufacturing flex property includes 45,519 SF of total building area, with 36,834 SF devoted to office and showroom space and 8,685 SF configured as warehouse space. The improvements are supported by 1,800 amp, 208V, 3-phase power, providing substantial electrical capacity for manufacturing-related operations. The 5-acre site is fenced and paved, creating a defined commercial setting for the building and its associated activities.
The property is zoned manufacturing and sits less than 1 minute from the Highway 201 entrance/exit, offering direct access to a major regional roadway. The combination of office, showroom, warehouse, site improvements, zoning, and power infrastructure supports a range of industrial and flex-space requirements.
The property is zoned manufacturing and sits less than 1 minute from the Highway 201 entrance/exit, offering direct access to a major regional roadway. The combination of office, showroom, warehouse, site improvements, zoning, and power infrastructure supports a range of industrial and flex-space requirements.
Key Highlights
- 45,519 SF total building with 36,834 SF office/showroom and 8,685 SF warehouse space
- 5‑acre site that is fenced and paved
- Zoned manufacturing
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
$500,618
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
7.15%
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%
$10,012,360
$10.0M
Cap Rate 7%
$7,151,686
$7.2M
Cap Rate 9%
$5,562,422
$5.6M
Market Conditions
NOI Build-Up for 45,519 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
$819.3K $18.00/SF
− Vacancy
−$49.2K −$1.08/SF
EGI
$770.2K $16.92/SF
− OpEx
−$269.6K −$5.92/SF
NOI
$500.6K $11.00/SF
Area
Salt Lake City, UT
Vacancy
6.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$10,012,360
Cap Rate 7%
$7,151,686
Cap Rate 9%
$5,562,422
Alternative Uses
Best Use
Office B
$9.43M
$8.25M – $11.00M
NOI $659,980 @ 7.0% cap · market cap 9.43%
Second Best
Flex RnD
$7.15M
$6.26M – $8.34M
NOI $500,618 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$12.26M
$10.73M – $14.31M
NOI $858,443 @ 7.0% cap · market cap 12.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
592
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 84119, UT
54,143
Population
16,811
Households
3.2
Avg Household Size
31
Median Age
16%
College-Educated
79%
High-School Grad
11.5 sq mi
ZIP Area
4,708
Density / Sq Mi
$66,616
Median Household Income
$35,676
Median Earnings
$1,418
Median Rent
$341,800
Median Home Value
Market
Vacancy Rate% for Office in Salt Lake City, UT
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Fenced, paved manufacturing property combining substantial office/showroom area with warehouse space and high-capacity electrical service.
Where is this flex space located?
The property is located at 3131 W 2210 S Salt Lake City, UT.
What is the asking price?
The asking price for this property is $7,000,000.
What are key features of this property?
This property features: 45,519 SF total building with 36,834 SF office/showroom and 8,685 SF warehouse space; 5‑acre site that is fenced and paved; Zoned manufacturing
