Flex Space with Grade-Level
For Sale
$899,000
Pending
386 N REDWOOD W RD 211A, North Salt Lake, UT 84054
MD-zoned commercial space with full-building HVAC, office accommodation, and a clear-span interior.
Property Size4,000 SF
Days on Market536
Property Features for 386 N REDWOOD W RD 211A
General Information
Standard status
Pending
Size
4,000 SF
Property subtype
Commercial/Industrial
Zoning
MD
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
16 ft
Clear Span
Yes
Drive-In Doors
1
Sprinkler System
Yes
Conditioned Warehouse
Yes
Taxes and HOA fees
Annual Taxes
$6,195
Building Details
Year Built
2007
Listing Agency:
Legend Commercial, LLC
(801) 930-6750
Listed By:
Skyler Peterson · License #6991009
(801) 656-7354
Source:
Exitrealty
Added: Mar 19, 2025
Changed: Sep 1
Last Checked: Sep 4 at 1:17PM
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 2007, this 4,000 SF flex space combines a clear-span interior with 16' clear height and one 10' x 14' grade-level loading door. The building includes two bathrooms, one office, HVAC throughout, ceiling fans, and a fire suppression system, providing a functional setup for manufacturing, distribution, warehouse, or related commercial operations.
The property is located on Redwood Road in North Salt Lake, with reported traffic of 11,000 cars per day. Exit 27 on I-215 is one mile south, providing a direct connection to the regional freeway network. Zoning is MD, designated for Manufacturing - Distribution.
The property is located on Redwood Road in North Salt Lake, with reported traffic of 11,000 cars per day. Exit 27 on I-215 is one mile south, providing a direct connection to the regional freeway network. Zoning is MD, designated for Manufacturing - Distribution.
Key Highlights
- 4,000 SF flex space built in 2007
- One 10' x 14' grade‑level loading door
- 16' clear height with clear‑span construction and no columns
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
$53,842
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
5.99%
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%
$1,076,840
$1.1M
Cap Rate 7%
$769,171
$769.2K
Cap Rate 9%
$598,244
$598.2K
Market Conditions
NOI Build-Up for 4,000 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
$87.8K $21.96/SF
− Vacancy
−$5.0K −$1.25/SF
EGI
$82.8K $20.71/SF
− OpEx
−$29.0K −$7.25/SF
NOI
$53.8K $13.46/SF
Area
Davis County, UT
Vacancy
5.70%
Lease Rate
$21.96 /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%
$1,076,840
Cap Rate 7%
$769,171
Cap Rate 9%
$598,244
Alternative Uses
Best Use
Flex RnD
$769.2K
$673.0K – $897.4K
NOI $53,842 @ 7.0% cap · market cap 5.99%
Second Best
Warehouse
$428.8K
$375.2K – $500.3K
NOI $30,019 @ 7.0% cap · market cap 3.34%
Theoretical Best
Office A
$923.8K
$808.4K – $1.08M
NOI $64,668 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
1
Drive-in doors
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
695
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 84054, UT
21,552
Population
7,658
Households
2.8
Avg Household Size
31
Median Age
41%
College-Educated
94%
High-School Grad
8.6 sq mi
ZIP Area
2,506
Density / Sq Mi
$107,889
Median Household Income
$50,071
Median Earnings
$1,648
Median Rent
$472,300
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.
Similar Off Market Nearby
- North Salt Lake Location — 581 900 n #2603, north salt lake, ut 84054
Frequently Asked Questions
What type of property is this?
Flex space - MD-zoned commercial space with full-building HVAC, office accommodation, and a clear-span interior.
Where is this flex space located?
The property is located at 386 N REDWOOD W RD 211A North Salt Lake, UT.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 4,000 SF flex space built in 2007; One 10' x 14' grade‑level loading door; 16' clear height with clear‑span construction and no columns
