Multi-Unit Flex and
For Sale
Contact for pricing
58 1100 West, Payson, UT 84651
Well-maintained industrial property with six units, anchored by About Time Technologies under lease through April 2028.
Property Size14,526 SF
Price / SF$320.12
Days on Market146
Property Features for 58 1100 West
General Information
Standard status
Active
Size
14,526 SF
Class
A
Total Parking Spaces
31
Property subtype
Industrial, Mixed Use, Land
Zoning
Industrial
Occupancy
64%
Lease Type
Absolute Net
Investment Type
Institutional
Net Operating Income
$135,785
Additional Details
Utilities to Site
Yes
Building Details
Year Built
2011
Year Renovated
2012
Buildings
1
Stories
2
Units
6
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices Elite Corporate Real Estate Advisors
Listed By:
Truett Chamberlain · License #UT 6494753-SA00
Source:
Crexi
Added: Apr 16
Changed: Aug 31
Last Checked: Sep 8 at 6:50AM
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 Berkshire Hathaway HomeServices Elite Corporate Real Estate Advisors
Investment Insights
Based on property information with market context.
This well-maintained industrial/flex property is divided into six individual units, creating multiple spaces within one building. About Time Technologies currently occupies approximately half of the building, with the business operating under a long-term lease in place through April 30, 2028, and two additional five-year renewal options that extend the potential term through 2038. The current tenant rent is $16,108.71 per month.
In addition to the improved structure, the offering includes an extra 1.11 acres of land directly north of the existing building. Sellers report that all utilities have already been brought to the vacant parcel, and Payson City has approved development on the lot that allows for a warehouse.
The building and adjacent parcel were appraised in 2025 at $4,400,000 for the building and $550,000 for the 1.11-acre site. The property is being marketed with combined improved and development-ready land potential in a growing commercial/industrial corridor in Payson.
In addition to the improved structure, the offering includes an extra 1.11 acres of land directly north of the existing building. Sellers report that all utilities have already been brought to the vacant parcel, and Payson City has approved development on the lot that allows for a warehouse.
The building and adjacent parcel were appraised in 2025 at $4,400,000 for the building and $550,000 for the 1.11-acre site. The property is being marketed with combined improved and development-ready land potential in a growing commercial/industrial corridor in Payson.
Key Highlights
- Industrial property built in 2011, divided into six individual units
- About Time Technologies is an anchor tenant occupying approximately half the building
- About Time Technologies lease runs through April 30, 2028, with two additional five‑year renewal options (through 2038)
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
$140,461
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
3.02%
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%
$2,809,220
$2.8M
Cap Rate 7%
$2,006,586
$2.0M
Cap Rate 9%
$1,560,678
$1.6M
Market Conditions
NOI Build-Up for 14,526 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
$174.3K $12.00/SF
− Vacancy
−$9.1K −$0.62/SF
EGI
$165.2K $11.38/SF
− OpEx
−$24.8K −$1.71/SF
NOI
$140.5K $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%
$2,809,220
Cap Rate 7%
$2,006,586
Cap Rate 9%
$1,560,678
Alternative Uses
Best Use
Warehouse
$2.01M
$1.76M – $2.34M
NOI $140,461 @ 7.0% cap · market cap 3.02%
Second Best
Industrial
$1.65M
$1.45M – $1.93M
NOI $115,673 @ 7.0% cap · market cap 2.49%
Theoretical Best
Office A
$4.00M
$3.50M – $4.67M
NOI $280,294 @ 7.0% cap · market cap 6.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 84651, UT
28,416
Population
8,956
Households
3.2
Avg Household Size
29
Median Age
29%
College-Educated
94%
High-School Grad
126.7 sq mi
ZIP Area
224
Density / Sq Mi
$94,152
Median Household Income
$37,170
Median Earnings
$1,398
Median Rent
$423,200
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Well-maintained industrial property with six units, anchored by About Time Technologies under lease through April 2028.
Where is this flex space located?
The property is located at 58 1100 West Payson, UT.
What is the asking price?
The asking price for this property is $4,650,000.
What are key features of this property?
This property features: Industrial property built in 2011, divided into six individual units; About Time Technologies is an anchor tenant occupying approximately half the building; About Time Technologies lease runs through April 30, 2028, with two additional five‑year renewal options (through 2038)
