Listing Agency: LPT REALTY, LLC Show Phone

Listed By: Kaden Wright Show Phone

Source: Exprealty

Added: May 1 Changed: Aug 21 Last Checked: Sep 5 at 9:24AM

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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 LPT REALTY, LLC

Investment Insights

Based on property information with market context.

The property includes a 50x80 all-brick shop built on a half-acre lot. The space has a concrete floor, 14' ceilings, and 12' doors. Interior improvements include a finished break room/apartment and a dedicated washer/dryer room, along with a water heater and interior plumbing. Heating is provided by propane, and the building also features a compression tank with outlets throughout.

The shop is located at 802-1695 N Olsen Way in West Bountiful, UT. The layout supports practical uses such as storage or workshop space, with the shell and site also described as suitable for recreational use or future development potential.

County-record figures are provided as a courtesy estimate only.

Key Highlights

• Half‑acre lot with a 50x80 all‑brick shop
• Concrete floor shop with 14' ceilings and 12' doors
• Interior plumbing plus water heater and compression tank

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

$53,842

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

7.86%

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%

$1,076,840 $1.1M

Cap Rate 7%

$769,171 $769.2K

Cap Rate 9%

$598,244 $598.2K

Market Conditions

NOI Build-Up for 4,000 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

$87.8K $21.96/SF

− Vacancy

−$5.0K −$1.25/SF

EGI

$82.8K $20.71/SF

− OpEx

−$29.0K −$7.25/SF

NOI

$53.8K $13.46/SF

Area

Davis County, UT

Vacancy

5.70%

Lease Rate

$21.96 /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%

$1,076,840

Cap Rate 7%

$769,171

Cap Rate 9%

$598,244

Alternative Uses

Best Use

Flex RnD

$769.2K

$673.0K – $897.4K (±1% cap)

NOI $53,842 @ 7.0% cap · market cap 7.86%

Second Best

Industrial

$357.8K

$313.1K – $417.5K (±1% cap)

NOI $25,049 @ 7.0% cap · market cap 3.66%

Theoretical Best

Office A

$923.8K

$808.4K – $1.08M (±1% cap)

NOI $64,668 @ 7.0% cap · market cap 9.44%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Law Firm Real Estate Agency Restaurant Hair Salon Spa & Massage Center Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

14 ft

Clear height

Location Intelligence

Trade Area within ½ mile

91

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 84087, UT

16,217

Population

5,254

Households

3.1

Avg Household Size

32

Median Age

36%

College-Educated

97%

High-School Grad

13.9 sq mi

ZIP Area

1,167

Density / Sq Mi

$122,201

Median Household Income

$48,939

Median Earnings

$1,520

Median Rent

$489,100

Median Home Value

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Flex space - All-brick 50x80 shop on a half-acre lot featuring concrete floors, 14' ceilings, 12' doors, and interior plumbing.

Where is this flex space located?

The property is located at 802-1695 N Olsen Way West Bountiful, UT.

What is the asking price?

The asking price for this property is $685,000.

What are key features of this property?

This property features: Half‑acre lot with a 50x80 all‑brick shop; Concrete floor shop with 14' ceilings and 12' doors; Interior plumbing plus water heater and compression tank