Multi-Tenant Warehouse
For Sale
Contact for pricing
500 S 500 W, Lindon, UT 84042
Multi-tenant warehouse campus with high- and low-bay space, integrated offices, mezzanines, loading, and parking.
Property Size355,951 SF
Lot Size22.77 Acres
Price / SF$112.38
Days on Market131
Property Features for 500 S 500 W
General Information
Standard status
Active
Size
355,951 SF
Total Parking Spaces
961
Lot size
22.77 Acres
Property subtype
Industrial, Office
Zoning
RB–RESIDENTIAL/BUSINESS
Occupancy
88%
Investment Type
Stabilized
Net Operating Income
$2,613,100
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1991
Buildings
4
Tenancy
Multi
Listing Agency:
Colliers - Pleasant Grove - Utah County, Utah
(801) 828-0349
Listed By:
Brandon Goodman · License #UT 9415570-SA00
Source:
Crexi
Added: Apr 22
Changed: Aug 29
Last Checked: May 8 at 9:39PM
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 Colliers - Pleasant Grove - Utah County, Utah
Investment Insights
Based on property information with market context.
Gateway Industrial Complex is a multi-tenant warehouse campus totaling 355,951 square feet across 22.77 acres in Lindon, Utah. The property combines high-bay and low-bay warehouse areas with integrated office and mezzanine space, creating a flexible configuration for industrial, distribution, and hybrid operations. Loading areas and on-site parking support day-to-day functionality, while the campus includes existing vacancy and near-term lease rollover.
The property fronts 1600 North and provides immediate access to I-15. Its configuration includes tenant diversification and an entitled retail pad development, adding additional components to the overall campus plan. The asset is located at 500 S 500 W, Lindon, UT 84042.
The property fronts 1600 North and provides immediate access to I-15. Its configuration includes tenant diversification and an entitled retail pad development, adding additional components to the overall campus plan. The asset is located at 500 S 500 W, Lindon, UT 84042.
Key Highlights
- 355,951‑square‑foot multi‑tenant warehouse campus
- 22.77‑acre industrial property in Lindon, Utah
- Frontage along 1600 North with immediate access to I‑15
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
$3,441,904
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
8.60%
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%
$68,838,080
$68.8M
Cap Rate 7%
$49,170,057
$49.2M
Cap Rate 9%
$38,243,378
$38.2M
Market Conditions
NOI Build-Up for 355,951 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
$4.27M $12.00/SF
− Vacancy
−$222.1K −$0.62/SF
EGI
$4.05M $11.38/SF
− OpEx
−$607.4K −$1.71/SF
NOI
$3.44M $9.67/SF
Area
Utah County, UT
Vacancy
5.20%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
15.00%
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%
$68,838,080
Cap Rate 7%
$49,170,057
Cap Rate 9%
$38,243,378
Alternative Uses
Best Use
Warehouse
$49.17M
$43.02M – $57.37M
NOI $3,441,904 @ 7.0% cap · market cap 8.60%
Second Best
Industrial
$40.49M
$35.43M – $47.24M
NOI $2,834,509 @ 7.0% cap · market cap 7.09%
Theoretical Best
Office A
$98.12M
$85.86M – $114.47M
NOI $6,868,430 @ 7.0% cap · market cap 17.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
520
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 84042, UT
11,330
Population
3,349
Households
3.4
Avg Household Size
31
Median Age
46%
College-Educated
97%
High-School Grad
7.9 sq mi
ZIP Area
1,434
Density / Sq Mi
$104,840
Median Household Income
$38,772
Median Earnings
$1,502
Median Rent
$639,200
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Storage Corner 1200W — 1275 N 1200 W, Orem, UT 84057
- Lindon Storage Center — 98 S State St, Lindon, UT 84042
- High Horizon Self Storage — 130 s state st, orem, ut 84058
- Pleasant Grove Site — S State St, Lindon, UT 84042
Frequently Asked Questions
What type of property is this?
Warehouse - Multi-tenant warehouse campus with high- and low-bay space, integrated offices, mezzanines, loading, and parking.
Where is this warehouse located?
The property is located at 500 S 500 W Lindon, UT.
What is the asking price?
The asking price for this property is $40,000,000.
What are key features of this property?
This property features: 355,951‑square‑foot multi‑tenant warehouse campus; 22.77‑acre industrial property in Lindon, Utah; Frontage along 1600 North with immediate access to I‑15
