Flex Space with Machine
For Sale
$8,363,591
3250 Pennsylvania #3250, Ogden, UT 84401
Two-story facility combines office, warehouse, laboratory, and machining infrastructure for technical operations.
Property Size46,818 SF
Lot Size3.79 Acres
Price / SF$178.64
Days on Market41
Property Features for 3250 Pennsylvania #3250
General Information
Standard status
Active
Size
46,818 SF
Total Parking Spaces
153
Lot size
3.79 Acres
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
12 ft
Dock-High Doors
2
Drive-In Doors
1
Power
800 amps
Voltage
480 V
Three-Phase Power
Yes
Sprinkler System
Yes
Conditioned Warehouse
Yes
Amenities
freight elevator
passenger elevator
conference rooms
break area
mountain views
Building Details
Year Built
2017
Buildings
1
Stories
2
Building Size
46,818 SF
Listing Agency:
Legend Commercial, LLC
(801) 930-6750
Listed By:
Skyler Peterson · License #6991009
Source:
Thehonorgrouputah
Added: Jul 20
Changed: Aug 27
Last Checked: Aug 28 at 12:44PM
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 Legend Commercial, LLC
Investment Insights
Based on property information with market context.
Built in 2017, this 46,818 SF flex facility spans two stories with a functional basement on a 3.79-acre site. The property includes open and private offices, glass conference rooms, a break area, warehouse and lab areas, a machine shop, 12' clear heights, and 153 surface parking stalls. A freight elevator and passenger elevator serve all levels, while fire sprinklers protect the building.
Operational infrastructure includes two dock-high doors, one grade-level ramp door, 800 Amp | 480V | 3-Phase electrical service, and extensive power drops. Compressed air lines extend through the warehouse and machine shop. Heating and cooling systems include a closed-loop hydronic system, boilers, HVAC, swamp coolers, and filtered outside-air intake equipment suited to R&D settings. The building has a rubber membrane roof with ballast.
The property offers access to I-15 via 31st Street and is minutes from I-80, I-84, and Ogden-Hinckley Airport. Hill Air Force Base is adjacent, with Boeing, Northrop Grumman, and Lockheed Martin nearby. Salt Lake City International Airport is under one hour away, and more than 443,000 residents live within 10 miles, including a population with 62% holding post-secondary degrees.
Operational infrastructure includes two dock-high doors, one grade-level ramp door, 800 Amp | 480V | 3-Phase electrical service, and extensive power drops. Compressed air lines extend through the warehouse and machine shop. Heating and cooling systems include a closed-loop hydronic system, boilers, HVAC, swamp coolers, and filtered outside-air intake equipment suited to R&D settings. The building has a rubber membrane roof with ballast.
The property offers access to I-15 via 31st Street and is minutes from I-80, I-84, and Ogden-Hinckley Airport. Hill Air Force Base is adjacent, with Boeing, Northrop Grumman, and Lockheed Martin nearby. Salt Lake City International Airport is under one hour away, and more than 443,000 residents live within 10 miles, including a population with 62% holding post-secondary degrees.
Key Highlights
- 46,818 SF building across two stories plus a functional basement on 3.79 acres
- 153 surface parking stalls and 12' clear height in warehouse and lab areas
- Two dock‑high doors and one grade‑level ramp 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
$349,562
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
4.18%
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%
$6,991,240
$7.0M
Cap Rate 7%
$4,993,743
$5.0M
Cap Rate 9%
$3,884,022
$3.9M
Market Conditions
NOI Build-Up for 46,818 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
$421.4K $9.00/SF
− Vacancy
−$10.1K −$0.22/SF
EGI
$411.2K $8.78/SF
− OpEx
−$61.7K −$1.32/SF
NOI
$349.6K $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%
$6,991,240
Cap Rate 7%
$4,993,743
Cap Rate 9%
$3,884,022
Alternative Uses
Best Use
Warehouse
$4.99M
$4.37M – $5.83M
NOI $349,562 @ 7.0% cap · market cap 4.18%
Second Best
Flex RnD
$4.33M
$3.79M – $5.05M
NOI $303,041 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$10.80M
$9.45M – $12.60M
NOI $755,876 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
12 ft
Clear height
2
Dock-high doors
1
Drive-in doors
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
276
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
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Frequently Asked Questions
What type of property is this?
Flex space - Two-story facility combines office, warehouse, laboratory, and machining infrastructure for technical operations.
Where is this flex space located?
The property is located at 3250 Pennsylvania #3250 Ogden, UT.
What is the asking price?
The asking price for this property is $8,363,591.
What are key features of this property?
This property features: 46,818 SF building across two stories plus a functional basement on 3.79 acres; 153 surface parking stalls and 12' clear height in warehouse and lab areas; Two dock‑high doors and one grade‑level ramp door
