Freestanding Flex Building with Fenced
New
For Sale
$1,499,000
789 W 1390 S, Salt Lake City, UT 84104
Two-level layout includes reception space, ADA restrooms, and a full kitchen.
Property Size5,000 SF
Days on Market5
Property Features for 789 W 1390 S
General Information
Standard status
Active
Size
5,000 SF
Total Parking Spaces
8
Property subtype
Industrial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Drive-In Doors
1
Amenities
ADA bathrooms
reception area
upper floor with shower
full kitchen
Building Details
Building Size
5,000 SF
Year Built
1997
Buildings
1
Listing Agency:
Windermere Real Estate (9th & 9th)
(801) 390-9865
Listed By:
Peter Clark
(801) 390-9865
Source:
Liftrealty
Added: Aug 28
Changed: Aug 31
Last Checked: Aug 31 at 2:49PM
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 Windermere Real Estate (9th & 9th)
Investment Insights
Based on property information with market context.
Built in 1997, this freestanding flex building combines tall ceilings with a 10-foot garage door and a fully fenced off-street lot. The interior includes a reception area, two ADA bathrooms, an upper floor with a shower, and a full kitchen. Eight parking stalls serve the property, while the existing improvements are concentrated in one building and its secured exterior area.
The property is near the freeway and close to downtown Salt Lake City. It is available for sale or lease, offering flexibility for evaluating the building’s existing configuration and improvements.
The property is near the freeway and close to downtown Salt Lake City. It is available for sale or lease, offering flexibility for evaluating the building’s existing configuration and improvements.
Key Highlights
- 1997 freestanding flex building with tall ceilings
- 10‑foot‑high garage door
- Fully fenced off‑street lot with eight parking stalls
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
$54,990
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
3.67%
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%
$1,099,800
$1.1M
Cap Rate 7%
$785,571
$785.6K
Cap Rate 9%
$611,000
$611.0K
Market Conditions
NOI Build-Up for 5,000 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
$90.0K $18.00/SF
− Vacancy
−$5.4K −$1.08/SF
EGI
$84.6K $16.92/SF
− OpEx
−$29.6K −$5.92/SF
NOI
$55.0K $11.00/SF
Area
Salt Lake City, UT
Vacancy
6.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,099,800
Cap Rate 7%
$785,571
Cap Rate 9%
$611,000
Alternative Uses
Best Use
Flex RnD
$785.6K
$687.4K – $916.5K
NOI $54,990 @ 7.0% cap · market cap 3.67%
Second Best
Industrial
$468.6K
$410.0K – $546.7K
NOI $32,803 @ 7.0% cap · market cap 2.19%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,295 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
680
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 84104, UT
23,487
Population
8,452
Households
2.8
Avg Household Size
31
Median Age
22%
College-Educated
78%
High-School Grad
21.6 sq mi
ZIP Area
1,087
Density / Sq Mi
$61,326
Median Household Income
$35,013
Median Earnings
$1,235
Median Rent
$318,100
Median Home Value
Market
Vacancy Rate% for Industrial in Salt Lake City, UT
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Gourmandise Catering — 514 Pickett Cir C, Salt Lake City, UT 84115
- Urban Pioneer Foods — 389 W 1700 S, Salt Lake City, UT 84115
- LUX Annex — Salt Lake City, UT 84115
Frequently Asked Questions
What type of property is this?
Flex space - Two-level layout includes reception space, ADA restrooms, and a full kitchen.
Where is this flex space located?
The property is located at 789 W 1390 S Salt Lake City, UT.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: 1997 freestanding flex building with tall ceilings; 10‑foot‑high garage door; Fully fenced off‑street lot with eight parking stalls
