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    Modern Office Building with Transit Access Title is generated by Realmo AI

    42 N 650 W, Farmington, UT 84025

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    For Lease
    $4,999,999 SF/Yr $7,273,331,878/Mo (calc)

    COMMERCIAL - Farmington, UT

    Type:Office
    Property size:
    17,456 SF
    Lot size:
    1.31 Acres
    Added:
    Jun 4, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 5 at 2:06 pm

    Property Features for 42 N 650 W

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Standard status
    Active
    APN
    08-087-0177
    Lot size
    1.31 Acres

    Taxes and HOA fees

    Tax Annual Amount
    25994

    Building Details

    Year built
    2010

    We can help!

    Listing Contact
    Genevieve Hill

    Listing agent Genevieve Hill

    Listing office Equity Real Estate (Select) 1424 S Legend Hills #100, Sandy, UT

    Listing date Jun 4, 2026

    MLS# 2163023

    Copyright © 2026 UtahRealEstate.com. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 1.314‑acre commercial property built in 2010 with 17,456 SF of rentable office space
    • Office layout includes 16 private offices, 4 conference rooms, 5 breakout offices, 6 large workspaces, and 2 break rooms
    • Security and connectivity features include secured access via door fobs and high‑speed fiber up to 10 Gbps/10 Gbps
    • Ample parking with 76+ stalls plus mountain views and direct proximity to the Farmington Creek greenbelt
    • High‑traffic frontage along Phoenix Way (approx. 180 ft), State Street (approx. 325 ft), and Legacy Parkway (approx. 240 ft) with estimated 188,500 AADT
    • Zoned TMU (Transit Mixed Use); secured with frontage and access to I‑15, Legacy Parkway (UT‑67), Hwy‑89, and UT‑177

    Overview

    This Class B office building, built in 2010 and recently renovated, offers a contemporary interior with an open-concept industrial design. The space is configured with 16 private offices, 4 conference rooms, 5 breakout offices, 6 large workspaces, and 2 break rooms. Constructed with durable masonry materials, the property supports a technology-forward environment with high-speed fiber availability up to 10 Gbps/10 Gbps. Building security is handled through secured access using door fobs and advanced building automation systems. Parking is available with 76+ stalls, supporting day-to-day employee and visitor traffic.

    The property is in Farmington, Utah, with walking access to Station Park and the Frontrunner train station. It is also near walking and bike trails and directly adjacent to the Farmington Creek greenbelt. The building provides approximately 180 feet of frontage on Phoenix Way, 325 feet on State Street, and 240 feet on Legacy Parkway.

    For businesses seeking an adaptable workplace, the property is zoned TMU (Transit Mixed Use), which supports a range of applications including office, retail, and multi-family uses. The site is described as having high-visibility exposure with an estimated 188,500 annual average daily traffic (AADT), along with convenient connections to major highways including I-15, Legacy Parkway (UT-67), Hwy-89, and the West Davis Corridor (UT-177).
    Property Profile Location Intelligence

    Current Use by Public Records

    Monumetric (Bike/Boat/Book/etc) Store Victoria's Secret & PINK ... (Bike/Boat/Book/etc) Store Inspyr Labs Mechanical Engineer Kevin Hill Real ... Real Estate Agency Wasatch Physical Therapy Medical Clinic

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Farmington
    County
    Davis
    State
    Utah
    Longitude
    -111.9007148
    Latitude
    40.9812706

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    FAQs

    What type of property is this?
    Office building - Recently renovated Class B office space with extensive private offices, conference rooms, and transit-adjacent accessibility.
    Where is this office building located?
    The property is located at 42 N 650 W Farmington, UT.
    What is the lease rate?
    The lease rate is $4,999,999.
    What are key features of this property?
    This property features: 1.314‑acre commercial property built in 2010 with 17,456 SF of rentable office space; Office layout includes 16 private offices, 4 conference rooms, 5 breakout offices, 6 large workspaces, and 2 break rooms; Security and connectivity features include secured access via door fobs and high‑speed fiber up to 10 Gbps/10 Gbps
    (435) 776-0123
    We can help!
    Listing Contact
    Genevieve Hill
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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