Four-Level Office
For Sale
$3,600,000
174 W 200 N, Cedar City, UT 84721
Commercial Sale, Cedar City, UT
Property Size24,000 SF
Lot Size1.24 Acres
Price / SF$150
Days on Market409
Property Features for 174 W 200 N
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Commercial
Subdivision
Outside Area
Standard status
Active
APN
B-0864-0001-0000
Size
24,000 SF
Lot size
1.24 Acres
Taxes and HOA fees
Tax Annual Amount
4695
Building Details
Year built
1962
Floors in Building
4
Listing Agency:
Coldwell Banker Comm Adv
(888) 586-8181
Listed By:
Daniel S Roberts · License #5480148-PB00
(435) 559-2221
Added: Jul 23, 2025
Changed: Aug 31
Last Checked: Sep 4 at 1:06PM
MLS# 25-263430
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.
This four-level office property contains 24,000 square feet within a commercial building constructed in 1962. The site encompasses 1.24 acres, providing additional land alongside the existing improvements. Its multi-level configuration offers substantial interior scale for office-oriented occupancy and other commercial applications consistent with the property classification.
The property is located at 174 W 200 N in Cedar City, Utah, on a busy commercial street. The site is near downtown Cedar City, Southern Utah University, and major routes, providing convenient access to established community destinations and regional travel connections. The address is within ZIP code 84721 in Iron County.
The property is located at 174 W 200 N in Cedar City, Utah, on a busy commercial street. The site is near downtown Cedar City, Southern Utah University, and major routes, providing convenient access to established community destinations and regional travel connections. The address is within ZIP code 84721 in Iron County.
Key Highlights
- 24,000‑square‑foot office building
- Four‑level commercial building
- 1.24‑acre site with additional land
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
$244,944
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
6.80%
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%
$4,898,880
$4.9M
Cap Rate 7%
$3,499,200
$3.5M
Cap Rate 9%
$2,721,600
$2.7M
Market Conditions
NOI Build-Up for 24,000 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
$345.6K $14.40/SF
− Vacancy
−$19.0K −$0.79/SF
EGI
$326.6K $13.61/SF
− OpEx
−$81.6K −$3.40/SF
NOI
$244.9K $10.21/SF
Area
Iron County, UT
Vacancy
5.50%
Lease Rate
$14.40 /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%
$4,898,880
Cap Rate 7%
$3,499,200
Cap Rate 9%
$2,721,600
Alternative Uses
Best Use
Office B
$3.50M
$3.06M – $4.08M
NOI $244,944 @ 7.0% cap · market cap 6.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.90M
$4.29M – $5.72M
NOI $343,107 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,350
Businesses Nearby
Explore this area
Business Placement
Demographics for 84721, UT
27,329
Population
9,638
Households
2.8
Avg Household Size
29
Median Age
29%
College-Educated
92%
High-School Grad
186.9 sq mi
ZIP Area
146
Density / Sq Mi
$73,342
Median Household Income
$30,662
Median Earnings
$1,076
Median Rent
$345,000
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?
Office building - Versatile commercial property with substantial building scale and additional land for future planning.
Where is this office building located?
The property is located at 174 W 200 N Cedar City, UT.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: 24,000‑square‑foot office building; Four‑level commercial building; 1.24‑acre site with additional land
