Flex Space with Office
For Sale
Contact for pricing
7984 Welby Park Dr #104, West Jordan, UT 84088
Two-level commercial space combines Class B offices, warehouse capacity, kitchens, break areas, and on-site parking.
Property Size5,600 SF
Price / SF$294.64
Days on Market209
Property Features for 7984 Welby Park Dr #104
General Information
Standard status
Active
Size
5,600 SF
Class
B
Property subtype
Industrial
Zoning
Commerical
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Warehouse Space
3,040 SF
Office Build-Out
2,580 SF
Drive-In Doors
1
Voltage
480 V
Three-Phase Power
Yes
Conditioned Warehouse
Yes
Amenities
kitchen
break rooms
conference room
Building Details
Year Built
2002
Year Renovated
2023
Buildings
1
Stories
2
Units
1
Listing Agency:
Realty Group Utah
(801) 860-3121
Listed By:
Paul Stanworth · License #5451851-PB00
Source:
Crexi
Added: Feb 4
Changed: Aug 30
Last Checked: Aug 30 at 9:14AM
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 Realty Group Utah
Investment Insights
Based on property information with market context.
This 5,600-square-foot flex property at 7984 Welby Park Dr #104 combines 2,580 square feet of office space with 3,040 square feet of warehouse area. The Class B office component was built in 2023 and includes open work areas, larger conference rooms, kitchens and break rooms on each level, plus two bathrooms. The warehouse is heated and cooled and includes 18-inch ceilings, a 12' x 14' garage door, and 3-phase 480V and 208 service.
The property is positioned off Old Bingham Highway near Jordan Landing. Parking is available at the front, rear, and side of the building. Zoning is listed as Commerical.
The property is positioned off Old Bingham Highway near Jordan Landing. Parking is available at the front, rear, and side of the building. Zoning is listed as Commerical.
Key Highlights
- 5,600 SF flex property with 2,580 SF of office and 3,040 SF of warehouse space
- Class B office component built in 2023
- Warehouse includes 3phase 480v and 208 service
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
$79,781
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
4.84%
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%
$1,595,620
$1.6M
Cap Rate 7%
$1,139,729
$1.1M
Cap Rate 9%
$886,456
$886.5K
Market Conditions
NOI Build-Up for 5,600 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
$123.0K $21.96/SF
− Vacancy
−$16.6K −$2.96/SF
EGI
$106.4K $19.00/SF
− OpEx
−$26.6K −$4.75/SF
NOI
$79.8K $14.25/SF
Area
West Jordan, UT
Vacancy
13.50%
Lease Rate
$21.96 /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%
$1,595,620
Cap Rate 7%
$1,139,729
Cap Rate 9%
$886,456
Alternative Uses
Best Use
Office B
$1.14M
$997.3K – $1.33M
NOI $79,781 @ 7.0% cap · market cap 4.84%
Second Best
Flex RnD
$808.1K
$707.1K – $942.8K
NOI $56,566 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$1.59M
$1.39M – $1.85M
NOI $111,232 @ 7.0% cap · market cap 6.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
334
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 84088, UT
37,856
Population
13,277
Households
2.9
Avg Household Size
33
Median Age
28%
College-Educated
91%
High-School Grad
9.4 sq mi
ZIP Area
4,027
Density / Sq Mi
$100,532
Median Household Income
$46,304
Median Earnings
$1,554
Median Rent
$443,400
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 - Two-level commercial space combines Class B offices, warehouse capacity, kitchens, break areas, and on-site parking.
Where is this flex space located?
The property is located at 7984 Welby Park Dr #104 West Jordan, UT.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 5,600 SF flex property with 2,580 SF of office and 3,040 SF of warehouse space; Class B office component built in 2023; Warehouse includes 3phase 480v and 208 service
