Corner Flex Industrial
For Sale
$504,000
513 W Lake St, Ogden, UT 84401
Corner C-2 industrial property with a warehouse plus an attached space ready for office, studio, or workspace conversion.
Property Size2,468 SF
Lot Size0.19 Acres
Price / SF$204.21
Days on Market289
Property Features for 513 W Lake St
General Information
Standard status
Active
Size
2,468 SF
Lot size
0.19 Acres
Zoning
C-2
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Drive-In Doors
2
Listing Agency:
Better Homes and Gardens Real Estate Momentum (Kaysville)
(385) 416-2098
Listed By:
Teresa Aguilar
(385) 416-2098
Source:
Exprealty
Added: Oct 27, 2025
Changed: Jul 10
Last Checked: Aug 11 at 1:03PM
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 Better Homes and Gardens Real Estate Momentum (Kaysville)
Investment Insights
Based on property information with market context.
This corner industrial and flex property is zoned C-2 Industrial and includes a 1,788 sq. ft. warehouse with two drive-up entrances, designed for trucks, vehicles, or equipment. An attached 680 sq. ft. area is currently available and ready to convert into an office, studio, or additional workspace right next to your shop. The lot size is 0.19 acres, with ample room for multiple vehicle parking to support business operations and customer access.
The site is described as quiet and easily accessible, with direct access to major roads and freeway connections. The property is surrounded by compatible industrial neighbors. The public remarks also note proximity to Observatory Park, Ogden Bike Trails, The Fort Disc Golf Course, downtown Ogden, and 24th & 25th Street, as well as local restaurants and transit. Buyer and broker to verify all information.
With warehouse space and drive-up access, the property can support a range of industrial and creative uses, including light manufacturing and shop-based operations. It is also described as suitable for warehouse, storage, fitness/training, or boutique retail, depending on the tenant’s buildout needs for the attached conversion space. Seller finance is available, and interested parties should contact the listing agent with questions.
The site is described as quiet and easily accessible, with direct access to major roads and freeway connections. The property is surrounded by compatible industrial neighbors. The public remarks also note proximity to Observatory Park, Ogden Bike Trails, The Fort Disc Golf Course, downtown Ogden, and 24th & 25th Street, as well as local restaurants and transit. Buyer and broker to verify all information.
With warehouse space and drive-up access, the property can support a range of industrial and creative uses, including light manufacturing and shop-based operations. It is also described as suitable for warehouse, storage, fitness/training, or boutique retail, depending on the tenant’s buildout needs for the attached conversion space. Seller finance is available, and interested parties should contact the listing agent with questions.
Key Highlights
- Corner property zoned C‑2 Industrial in an easily accessible location
- 1,788 SF warehouse with two drive‑up entrances for trucks, vehicles, or equipment
- Attached 680 SF area ready to convert into an office, studio, or additional workspace
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
$29,803
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
5.91%
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%
$596,060
$596.1K
Cap Rate 7%
$425,757
$425.8K
Cap Rate 9%
$331,144
$331.1K
Market Conditions
NOI Build-Up for 2,468 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
$43.2K $17.52/SF
− Vacancy
−$3.5K −$1.42/SF
EGI
$39.7K $16.10/SF
− OpEx
−$9.9K −$4.03/SF
NOI
$29.8K $12.08/SF
Area
Weber County, UT
Vacancy
8.10%
Lease Rate
$17.52 /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%
$596,060
Cap Rate 7%
$425,757
Cap Rate 9%
$331,144
Alternative Uses
Best Use
Office B
$425.8K
$372.5K – $496.7K
NOI $29,803 @ 7.0% cap · market cap 5.91%
Second Best
Warehouse
$263.2K
$230.3K – $307.1K
NOI $18,427 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$569.2K
$498.1K – $664.1K
NOI $39,846 @ 7.0% cap · market cap 7.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
229
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 84401, UT
42,968
Population
18,615
Households
2.3
Avg Household Size
32
Median Age
26%
College-Educated
90%
High-School Grad
30.7 sq mi
ZIP Area
1,400
Density / Sq Mi
$77,333
Median Household Income
$41,295
Median Earnings
$1,179
Median Rent
$410,700
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Corner C-2 industrial property with a warehouse plus an attached space ready for office, studio, or workspace conversion.
Where is this flex space located?
The property is located at 513 W Lake St Ogden, UT.
What is the asking price?
The asking price for this property is $504,000.
What are key features of this property?
This property features: Corner property zoned C‑2 Industrial in an easily accessible location; 1,788 SF warehouse with two drive‑up entrances for trucks, vehicles, or equipment; Attached 680 SF area ready to convert into an office, studio, or additional workspace
