Restaurant Space with
For Sale
Contact for pricing
421 Washington Blvd, Ogden, UT 84404
2,624 SF restaurant space with drive-thru on Washington Blvd.
Property Size2,624 SF
Price / SF$304.50
Days on Market183
Property Features for 421 Washington Blvd
General Information
Standard status
Active
Size
2,624 SF
Property subtype
Retail
Zoning
C-3
Building Details
Year Built
1946
Buildings
1
Stories
1
Listing Agency:
Crest Realty
(801) 564-7097
Listed By:
Brad Lasater · License #UT 5481622-SA00
Source:
Crexi
Added: Feb 10
Changed: Aug 7
Last Checked: Aug 12 at 12:53PM
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 Crest Realty
Investment Insights
Based on property information with market context.
This 2,624-square-foot space, previously a restaurant, is available on Washington Blvd, which benefits from high visibility and an average daily traffic count of 34,000 vehicles. The property can be remodeled to suit various business needs and features a drive-thru window and off-street parking. This location is suitable for a range of commercial ventures.
Key Highlights
- High‑visibility location on Washington Blvd with 34,000 average daily traffic count.
- Existing drive‑thru window.
- Ample off‑street parking.
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
$35,580
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%
$711,600
$711.6K
Cap Rate 7%
$508,286
$508.3K
Cap Rate 9%
$395,333
$395.3K
Market Conditions
NOI Build-Up for 2,624 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
$51.0K $19.44/SF
− Vacancy
−$3.6K −$1.36/SF
EGI
$47.4K $18.08/SF
− OpEx
−$11.9K −$4.52/SF
NOI
$35.6K $13.56/SF
Area
Weber County, UT
Vacancy
7.00%
Lease Rate
$19.44 /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%
$711,600
Cap Rate 7%
$508,286
Cap Rate 9%
$395,333
Alternative Uses
Best Use
Specialty Retail
$508.3K
$444.8K – $593.0K
NOI $35,580 @ 7.0% cap · market cap 4.45%
Second Best
Retail
$484.6K
$424.0K – $565.4K
NOI $33,922 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$605.2K
$529.6K – $706.1K
NOI $42,364 @ 7.0% cap · market cap 5.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
484
Businesses Nearby
130k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 58%
Home Improvements & Furnishings 27%
Dining 14%
Electronics 1%
Dollar Tree
Shops & Services
28,555 visits/mo
0.3 miles
Lowe's
Home Improvements & Furnishings
24,594 visits/mo
0.4 miles
Maverik Adventures First Stop
Shops & Services
21,295 visits/mo
0.5 miles
Harbor Freight Tools
Home Improvements & Furnishings
9,824 visits/mo
0.2 miles
Burger King
Dining
7,807 visits/mo
0.1 miles
Demographics for 84404, UT
66,382
Population
23,907
Households
2.8
Avg Household Size
32
Median Age
22%
College-Educated
89%
High-School Grad
96.3 sq mi
ZIP Area
689
Density / Sq Mi
$81,917
Median Household Income
$42,844
Median Earnings
$1,304
Median Rent
$352,700
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 2,624 SF restaurant space with drive-thru on Washington Blvd.
Where is this retail space located?
The property is located at 421 Washington Blvd Ogden, UT.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: High‑visibility location on Washington Blvd with 34,000 average daily traffic count.; Existing drive‑thru window.; Ample off‑street parking.
