Multi-Tenant Flex
New
For Sale
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4110 W Nike Dr, West Jordan, UT 84088
Multi-tenant configuration combines warehouse and office areas within an M-1 zone.
Property Size12,500 SF
Price / SF$320
Days on Market5
Property Features for 4110 W Nike Dr
General Information
Standard status
Active
Size
12,500 SF
Property subtype
INDUSTRIAL
Listing Agency:
Knight Real Estate Advisors
(801) 913-4990
Listed By:
Stew Knight · License #5472670-PB00
(801) 913-4990
Source:
Moodyscre
Added: Aug 27
Changed: Aug 31
Last Checked: Aug 31 at 5:09PM
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 Knight Real Estate Advisors
Investment Insights
Based on property information with market context.
This flex property contains 12,500 square feet across three units, with 10,665 SF allocated to warehouse space and 1,835 SF of office area. The building offers 14'-18' clear heights, four 14' x 14' grade-level doors, and clear-span construction with radiant features. Electrical service includes 480/277v and 208/120v three-phase power. Built in 1998, the property is designated M-1 and provides a mix of industrial and office functionality within a multi-tenant layout.
The property is located near Jordan Landing at 4110 W Nike Dr in West Jordan, Utah. Access to Bangerter Highway supports connectivity to the surrounding area.
The property is located near Jordan Landing at 4110 W Nike Dr in West Jordan, Utah. Access to Bangerter Highway supports connectivity to the surrounding area.
Key Highlights
- 12,500 Total Square Feet with 10,665 SF of warehouse and 1,835 SF of office
- Multi‑Tenant Configuration with 3 Units
- 0.90 Acres
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
$178,082
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
4.45%
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%
$3,561,640
$3.6M
Cap Rate 7%
$2,544,029
$2.5M
Cap Rate 9%
$1,978,689
$2.0M
Market Conditions
NOI Build-Up for 12,500 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
$274.5K $21.96/SF
− Vacancy
−$37.1K −$2.96/SF
EGI
$237.4K $19.00/SF
− OpEx
−$59.4K −$4.75/SF
NOI
$178.1K $14.25/SF
Area
West Jordan, UT
Vacancy
13.50%
Lease Rate
$21.96 /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%
$3,561,640
Cap Rate 7%
$2,544,029
Cap Rate 9%
$1,978,689
Alternative Uses
Best Use
Office B
$2.54M
$2.23M – $2.97M
NOI $178,082 @ 7.0% cap · market cap 4.45%
Second Best
Flex RnD
$1.80M
$1.58M – $2.10M
NOI $126,263 @ 7.0% cap · market cap 3.16%
Theoretical Best
Office A
$3.55M
$3.10M – $4.14M
NOI $248,285 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
474
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 84088, UT
37,856
Population
13,277
Households
2.9
Avg Household Size
33
Median Age
28%
College-Educated
91%
High-School Grad
9.4 sq mi
ZIP Area
4,027
Density / Sq Mi
$100,532
Median Household Income
$46,304
Median Earnings
$1,554
Median Rent
$443,400
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 - Multi-tenant configuration combines warehouse and office areas within an M-1 zone.
Where is this flex space located?
The property is located at 4110 W Nike Dr West Jordan, UT.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 12,500 Total Square Feet with 10,665 SF of warehouse and 1,835 SF of office; Multi‑Tenant Configuration with 3 Units; 0.90 Acres
