Industrial Warehouse with Dock
For Sale
$21,000,000
3195 W PROFESSIONAL CIR 250, Salt Lake City, UT 84104
Shell industrial space offers build-to-suit flexibility within a concrete tilt-up building near freeway access.
Property Size125,000 SF
Price / SF$252.40
Days on Market52
Property Features for 3195 W PROFESSIONAL CIR 250
General Information
Standard status
Active
Size
125,000 SF
Property subtype
Combined Commercial
Zoning
Industrial
Warehouse & Industrial
Dock-High Doors
4
Drive-In Doors
3
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$156,452
Building Details
Year Built
2020
Building Size
125,000 SF
Construction
Concrete tilt-up
Listing Agency:
(801) 603-5005
Listed By:
Christy Vail
(801) 603-5005
Source:
Utahnoplacelikehome.idxbroker
Added: Jul 9
Changed: Aug 28
Last Checked: Aug 25 at 8:17AM
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 Christy Vail
Investment Insights
Based on property information with market context.
The property comprises a center suite within a 125,000-square-foot industrial building completed in 2020. The available 41,600-square-foot area is currently in shell condition and can be configured through a build-to-suit program. Concrete tilt-up construction is complemented by 4 dock doors and 3 drive-in doors, supporting a range of warehouse and industrial operations.
The property is located at 3195 W Professional Cir in Salt Lake City, approximately 5 minutes from freeway access, and carries Industrial zoning. The sale also includes an additional 41,600-square-foot improved suite that is occupied under a 10-year lease.
The property is located at 3195 W Professional Cir in Salt Lake City, approximately 5 minutes from freeway access, and carries Industrial zoning. The sale also includes an additional 41,600-square-foot improved suite that is occupied under a 10-year lease.
Key Highlights
- 41,600 sq ft available shell space within a 125,000 sq ft industrial building
- Concrete tilt‑up construction completed in 2020
- 4 dock doors and 3 drive‑in doors
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
$686,762
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
3.27%
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%
$13,735,240
$13.7M
Cap Rate 7%
$9,810,886
$9.8M
Cap Rate 9%
$7,630,689
$7.6M
Market Conditions
NOI Build-Up for 83,200 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
$828.7K $9.96/SF
− Vacancy
−$20.7K −$0.25/SF
EGI
$808.0K $9.71/SF
− OpEx
−$121.2K −$1.46/SF
NOI
$686.8K $8.25/SF
Area
Salt Lake City, UT
Vacancy
2.50%
Lease Rate
$9.96 /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%
$13,735,240
Cap Rate 7%
$9,810,886
Cap Rate 9%
$7,630,689
Alternative Uses
Best Use
Warehouse
$9.81M
$8.58M – $11.45M
NOI $686,762 @ 7.0% cap · market cap 3.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$22.42M
$19.61M – $26.15M
NOI $1,569,069 @ 7.0% cap · market cap 7.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Dock-high doors
3
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
519
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 84104, UT
23,487
Population
8,452
Households
2.8
Avg Household Size
31
Median Age
22%
College-Educated
78%
High-School Grad
21.6 sq mi
ZIP Area
1,087
Density / Sq Mi
$61,326
Median Household Income
$35,013
Median Earnings
$1,235
Median Rent
$318,100
Median Home Value
Market
Vacancy Rate% for Industrial in Salt Lake City, UT
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- InterWest Moving & Storage — 1650 Awl Cir Ste 300, Salt Lake City, UT 84104
- Wasatch Transfer Moving & Storage — 2350 W 1700 S D-2, Salt Lake City, UT 84104
- CORE X PERFORMANCE — 3190 W Professional Cir, Salt Lake City, UT 84104
- D & D Containers — 2835 Andrew Ave, Salt Lake City, UT 84104
- Nimbl Fulfillment And Assembly — California Ave, Salt Lake City, UT 84104
Frequently Asked Questions
What type of property is this?
Warehouse - Shell industrial space offers build-to-suit flexibility within a concrete tilt-up building near freeway access.
Where is this warehouse located?
The property is located at 3195 W PROFESSIONAL CIR 250 Salt Lake City, UT.
What is the asking price?
The asking price for this property is $21,000,000.
What are key features of this property?
This property features: 41,600 sq ft available shell space within a 125,000 sq ft industrial building; Concrete tilt‑up construction completed in 2020; 4 dock doors and 3 drive‑in doors
