Multi-Use Industrial Flex
For Sale
$2,150,000
62 N Country Way, Washington, UT 84780
COMMERCIAL - Washington, UT
Property Size9,030 SF
Lot Size1.32 Acres
Price / SF$238.10
Days on Market52
Property Features for 62 N Country Way
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Industrial, Commercial
Subdivision
Greater St. George
Standard status
Active
APN
W-SVIP-2-34
Size
9,030 SF
Lot size
1.32 Acres
Building Details
Year built
2026
Floors in Building
1
Listing Agency:
RE/MAX ASSOCIATES ST GEORGE · RE/MAX International
(435) 215-2900
Listed By:
N Lucas Darger · License #9074603
(801) 651-1415
Added: Jul 2
Changed: Aug 4
Last Checked: Aug 22 at 12:06AM
MLS# 26-273844
Copyright © 2026 Washington County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Newly constructed multi-use industrial flex facility featuring a steel building with a flexible interior configuration. The current plan calls for two-story office space on one side and a single-story area with mezzanine on the other, supporting a variety of operational layouts. The building is designed with 19'3" interior clear height and two 12' overhead roll-up pass-through doors per unit, supporting efficient workflow and logistics. A secure outdoor storage yard with heavy compacted gravel surface is included, along with 3-phase power for heavy machinery and high-capacity equipment.
The property is located in the Sunrise Valley Industrial Park. It includes two 20-foot double-swing vehicular access gates and a complete site plan with 27 vehicle parking spaces, concrete dumpster enclosures, safety bollards, and low-maintenance desert landscaping.
Zoned I-2, the facility is described as the city’s most permissive classification and is suited for owner-occupants and investors seeking the ability to occupy one side and lease the other. The outdoor area is fenced and gated to support large-scale equipment laydown, outdoor material storage, or vehicle fleet parking.
The property is located in the Sunrise Valley Industrial Park. It includes two 20-foot double-swing vehicular access gates and a complete site plan with 27 vehicle parking spaces, concrete dumpster enclosures, safety bollards, and low-maintenance desert landscaping.
Zoned I-2, the facility is described as the city’s most permissive classification and is suited for owner-occupants and investors seeking the ability to occupy one side and lease the other. The outdoor area is fenced and gated to support large-scale equipment laydown, outdoor material storage, or vehicle fleet parking.
Key Highlights
- Newly constructed 9,060 SF steel multi‑use industrial building on a 56,000 SF lot in Sunrise Valley Industrial Park
- Planned two‑story office on one side plus single‑story space with mezzanine on the other, with interior customization available
- 19'3" interior clear height with two 12' overhead roll‑up pass‑through doors per unit for efficient loading/logistics
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
$76,430
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
3.55%
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%
$1,528,600
$1.5M
Cap Rate 7%
$1,091,857
$1.1M
Cap Rate 9%
$849,222
$849.2K
Market Conditions
NOI Build-Up for 9,030 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
$97.5K $10.80/SF
− Vacancy
−$7.6K −$0.84/SF
EGI
$89.9K $9.96/SF
− OpEx
−$13.5K −$1.49/SF
NOI
$76.4K $8.46/SF
Area
Washington County, UT
Vacancy
7.80%
Lease Rate
$10.80 /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%
$1,528,600
Cap Rate 7%
$1,091,857
Cap Rate 9%
$849,222
Alternative Uses
Best Use
Warehouse
$1.09M
$955.4K – $1.27M
NOI $76,430 @ 7.0% cap · market cap 3.55%
Second Best
Flex RnD
$922.7K
$807.3K – $1.08M
NOI $64,587 @ 7.0% cap · market cap 3.00%
Theoretical Best
Specialty Retail
$2.49M
$2.18M – $2.90M
NOI $174,063 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
19 ft
Clear height
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
18
Businesses Nearby
Explore this area
Business Placement
Demographics for 84780, UT
28,025
Population
12,922
Households
2.2
Avg Household Size
36
Median Age
35%
College-Educated
94%
High-School Grad
61.8 sq mi
ZIP Area
453
Density / Sq Mi
$94,103
Median Household Income
$42,098
Median Earnings
$1,581
Median Rent
$511,700
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 - Newly constructed steel industrial flex building with gated fenced yard and 19'3" clear height.
Where is this flex space located?
The property is located at 62 N Country Way Washington, UT.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: Newly constructed 9,060 SF steel multi‑use industrial building on a 56,000 SF lot in Sunrise Valley Industrial Park; Planned two‑story office on one side plus single‑story space with mezzanine on the other, with interior customization available; 19'3" interior clear height with two 12' overhead roll‑up pass‑through doors per unit for efficient loading/logistics
