Ogden Commercial Flex Building For
For Sale
$7,499,900
3625 HARRISON Blvd, Ogden, UT 84403
COMMERCIAL - Ogden, UT
Property Size51,345 SF
Lot Size2.36 Acres
Price / SF$146.07
Days on Market107
Property Features for 3625 HARRISON Blvd
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Commercial
Interior features
Kitchen, Restroom: Private
Subdivision
Ogdn; W Hvn; Ter; Rvrdl
Standard status
Active
APN
05-068-0005
Lot size
2.36 Acres
Taxes and HOA fees
Tax Annual Amount
53904
Amenities
elevator
full security and surveillance system
Building Details
Year built
1955
Listing Agency:
KW WESTFIELD · Keller Williams Realty
(801) 850-5600
Listed By:
Brett Wilde · License #7849039-SA00
(801) 623-9552
Added: Apr 29
Changed: Aug 4
Last Checked: Aug 13 at 7:06AM
MLS# 2154069
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Investment Insights
Based on property information with market context.
Located in Ogden, Utah, this commercial building offers office, warehouse, and flex space. Situated on 2.36 acres adjacent to Weber State University, the property has frontage on Harrison Blvd., Brinker Avenue, and 37th Street, providing exposure and access from US-89 and Washington Blvd. The building has approximately 27,898 square feet of professional office space across two levels, including executive offices, conference rooms, and open floor plan areas, plus upper-level flex storage. There is also approximately 23,447 square feet of warehouse, shop, and open flex use space. Clear heights range from 10 to 22 feet. The building is equipped with heavy-duty 3-phase, 2,000-amp electrical service, four 10x14 grade-level overhead doors, one 10x12 dock-high door, a wet fire sprinkler system, elevator, and a full security and surveillance system. The 2.36-acre site provides approximately 90 on-site parking stalls, monument signage on Harrison Blvd., and additional street parking along Brinker Avenue and 37th Street. CP-2 (Community Commercial) zoning allows for a variety of office, retail, service shop, and flex commercial uses, with warehousing grandfathered as a legally permitted use. Significant remodel in 1993 and extensive interior updates completed 2023 through 2025. The property is suited for an owner-user, investor, or redevelopment group. There are two existing month-to-month tenants in place.
Key Highlights
- High‑visibility location adjacent to Weber State University with frontage on Harrison Blvd., Brinker Avenue, and 37th Street.
- Versatile building offering approximately 27,898 SF of professional office space and 23,447 SF of warehouse/flex space.
- Heavy‑duty 3‑phase, 2,000‑amp electrical service and multiple loading doors** (four 10x14 grade‑level, one 10x12 dock‑high).
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
$620,025
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
8.27%
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%
$12,400,500
$12.4M
Cap Rate 7%
$8,857,500
$8.9M
Cap Rate 9%
$6,889,167
$6.9M
Market Conditions
NOI Build-Up for 51,345 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
$899.6K $17.52/SF
− Vacancy
−$72.9K −$1.42/SF
EGI
$826.7K $16.10/SF
− OpEx
−$206.7K −$4.03/SF
NOI
$620.0K $12.08/SF
Area
Weber County, UT
Vacancy
8.10%
Lease Rate
$17.52 /SF/Yr
Expense Ratio
25.00%
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%
$12,400,500
Cap Rate 7%
$8,857,500
Cap Rate 9%
$6,889,167
Alternative Uses
Best Use
Office B
$8.86M
$7.75M – $10.33M
NOI $620,025 @ 7.0% cap · market cap 8.27%
Second Best
Warehouse
$5.48M
$4.79M – $6.39M
NOI $383,362 @ 7.0% cap · market cap 5.11%
Theoretical Best
Office A
$11.84M
$10.36M – $13.82M
NOI $828,965 @ 7.0% cap · market cap 11.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22 ft
Clear height
1
Dock-high doors
4
Drive-in doors
Multi-tenant
Tenancy
Yes
Heavy power
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
571
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 84403, UT
37,847
Population
14,587
Households
2.6
Avg Household Size
33
Median Age
34%
College-Educated
93%
High-School Grad
34.0 sq mi
ZIP Area
1,113
Density / Sq Mi
$84,589
Median Household Income
$41,227
Median Earnings
$1,172
Median Rent
$392,700
Median Home Value
Market
Vacancy Rate% for Office 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 - High-visibility office, warehouse, and flex building near Weber State University.
Where is this flex space located?
The property is located at 3625 HARRISON Blvd Ogden, UT.
What is the asking price?
The asking price for this property is $7,499,900.
What are key features of this property?
This property features: High‑visibility location adjacent to Weber State University with frontage on Harrison Blvd., Brinker Avenue, and 37th Street.; Versatile building offering approximately **27,898 SF of professional office space and 23,447 SF of warehouse/flex space.**; Heavy‑duty 3‑phase, 2,000‑amp electrical service and multiple loading doors** (four 10x14 grade‑level, one 10x12 dock‑high).
