Automotive Flex Corner
For Sale
$2,500,000
Pending
840 E HIGHWAY 193, Layton, UT 84041
Corner lot with Highway 193 frontage and a heated shop with three 12' overhead doors.
Property Size9,634 SF
Days on Market776
Property Features for 840 E HIGHWAY 193
General Information
Standard status
Pending
Size
9,634 SF
Property subtype
Commercial/Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Clear Height
15 ft
Drive-In Doors
3
Taxes and HOA fees
Annual Taxes
$12,353
Building Details
Year Built
1990
Listing Agency:
JWH Real Estate
(801) 479-1500
Listed By:
MARC J HANSEN · License #5701784
(801) 458-6272
Source:
Exitrealty
Added: Jul 26, 2024
Changed: Sep 3
Last Checked: Sep 9 at 7:11AM
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 JWH Real Estate
Investment Insights
Based on property information with market context.
This corner lot property includes a 9,634 square foot building designed for automotive and flexible commercial use. The improvements consist of 6,934 square feet of office/showroom space and 2,700 square feet of insulated, heated, and cooled shop space. The shop is accessible through three 12' overhead doors, and the shop areas feature 15' ceiling height. The showroom is wrapped in floor-to-ceiling windows, providing extensive glazing for display or customer-facing use. The lot is partially fenced to support secured parking and operational control.
The site benefits from frontage on HWY 193 and Fairfield Drive. Based on the current layout, the property is positioned to serve both office/showroom and shop functions while maintaining access for vehicles through the overhead door openings.
While the property is currently used as a car lot/office and shop, the existing office/showroom configuration and the insulated, climate-controlled shop make it a practical candidate for users seeking a combined customer-facing and service/repair footprint. Interested parties should note that the property has a current tenant and showings must be scheduled through the listing broker, with instructions not to disturb the tenant.
The site benefits from frontage on HWY 193 and Fairfield Drive. Based on the current layout, the property is positioned to serve both office/showroom and shop functions while maintaining access for vehicles through the overhead door openings.
While the property is currently used as a car lot/office and shop, the existing office/showroom configuration and the insulated, climate-controlled shop make it a practical candidate for users seeking a combined customer-facing and service/repair footprint. Interested parties should note that the property has a current tenant and showings must be scheduled through the listing broker, with instructions not to disturb the tenant.
Key Highlights
- Corner lot with frontage on Hwy 193 and Fairfield Drive in East Davis County
- 9,634 SF building with 6,934 SF office/showroom space and 2,700 SF insulated, heated, and cooled shop
- Shop area includes three 12' overhead doors and 15' ceiling height
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
$129,677
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
5.19%
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%
$2,593,540
$2.6M
Cap Rate 7%
$1,852,529
$1.9M
Cap Rate 9%
$1,440,856
$1.4M
Market Conditions
NOI Build-Up for 9,634 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
$211.6K $21.96/SF
− Vacancy
−$12.1K −$1.25/SF
EGI
$199.5K $20.71/SF
− OpEx
−$69.8K −$7.25/SF
NOI
$129.7K $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%
$2,593,540
Cap Rate 7%
$1,852,529
Cap Rate 9%
$1,440,856
Alternative Uses
Best Use
Flex RnD
$1.85M
$1.62M – $2.16M
NOI $129,677 @ 7.0% cap · market cap 5.19%
Second Best
Retail
$1.66M
$1.46M – $1.94M
NOI $116,449 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$2.23M
$1.95M – $2.60M
NOI $155,753 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
15 ft
Clear height
3
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
349
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 84041, UT
55,289
Population
19,171
Households
2.9
Avg Household Size
30
Median Age
31%
College-Educated
95%
High-School Grad
14.9 sq mi
ZIP Area
3,711
Density / Sq Mi
$87,608
Median Household Income
$43,804
Median Earnings
$1,404
Median Rent
$395,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Corner lot with Highway 193 frontage and a heated shop with three 12' overhead doors.
Where is this flex space located?
The property is located at 840 E HIGHWAY 193 Layton, UT.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Corner lot with frontage on Hwy 193 and Fairfield Drive in East Davis County; 9,634 SF building with 6,934 SF office/showroom space and 2,700 SF insulated, heated, and cooled shop; Shop area includes three 12' overhead doors and 15' ceiling height
