Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2402 W Aviation Way Cedar City, UT 84721

    View on Map
    Sponsored
    For Sale
    $890,000

    COMMERCIAL - Cedar City, UT

    Property size:
    7,680 SF
    Lot size:
    0.23 Acres
    Days on Market:
    1
    Last Refresh:
    Mar 13 at 9:06 pm

    Property Features for 2402 W Aviation Way

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    B-1253-0021-00BL
    Size
    7,680 SF
    Lot size
    0.23 Acres

    Building Details

    Year built
    2008
    Floors in Building
    2

    We can help!

    Listing Contact
    Jennifer Davis

    ERA REALTY CENTER (435) 586-2777

    Listing agent Jennifer Davis

    Listing date Mar 13, 2026

    MLS# 26-270191

    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.

    Learn more

    Property Insight Report

    Overview

    Large Hangar in Southern Utah

    This large airplane hangar, located in Cedar City, Utah, presents a rare opportunity for aviation enthusiasts, private aircraft storage, or aviation-related business operations. The hangar features an expansive interior and generous door clearance, accommodating larger aircraft while providing ample room for equipment, tools, and workspace. Its versatile layout is suited for private aviation, maintenance operations, or recreational aviation use. The property is situated in a prime location with easy access to the runway, offering functionality and flexibility for pilots, collectors, or business owners seeking a strategic aviation base in Southern Utah. The land lease rate is $619.20 annually or $0.06 per square foot. The property size is 7,680 square feet and the lot size is 0.23 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Western Wings Aviation ... Vocational School

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Building Supply Hair Salon Auto Repair Shop Big Box & Wholesale Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cedar City
    County
    Iron
    State
    Utah
    Longitude
    -113.095089
    Latitude
    37.696684

    Nearby Similar for Sale

    • $727,900
      3,200 SF

      Renovated Commercial/Industrial Building For Sale

      Renovated 3,200 sq. ft. commercial/industrial building in Cedar City.
      911 N 2175 W, Cedar City, UT 84721
      View Details
    • New
      $999,995
      6,156 SF

      Flex-Industrial Building Near Cedar City Airport

      6,156 sq ft flex building near Cedar City Airport.
      1144 N Airport Rd, Cedar City, UT 84721
      View Details
    • $989,000
      6,359 SF

      Laundromat and Dry Cleaning Business

      Turnkey laundromat and dry cleaning business in Cedar City, Utah.
      438 S Main St, Cedar City, UT 84720
      View Details
    • $600,000
      4,500 SF

      Cedar City Commercial Flex Space

      Designable commercial flex space in Cedar City, Utah.
      814 N 2475 W, Cedar City, UT 84721
      View Details
    • $300,000
      4,500 SF

      Cedar City Commercial Flex Space

      Designable commercial flex space in Cedar City, Utah.
      814 N 2475 W, Cedar City, UT 84721
      View Details
    • $900,000
      4,500 SF

      Designable Commercial Space Available

      Flex space with customizable interior and fenced yard.
      814 N 2475 W, Cedar City, UT 84721
      View Details
    • $600,000
      6,000 SF

      Designable Commercial Space Available

      Flex/Industrial space with customizable interior and fenced yard.
      814 N 2475, Cedar City, UT 84721
      View Details
    • $900,000
      6,000 SF

      Designable Commercial Space Available

      Flex/industrial space with customizable interior and fenced yard.
      814 N 2475, Cedar City, UT 84721
      View Details
    • $300,000
      6,000 SF

      Customizable Flex Space in Cedar

      Designable flex space with fenced yard in Cedar City.
      814 N 2475, Cedar City, UT 84721
      View Details
    • New
      $785,000
      7,819 SF

      Spacious Airplane Hangar in Utah

      Airplane hangar for pilots, aviation enthusiasts, or business owners.
      2390 W Aviation Way, Cedar City, UT 84721
      View Details
    • New
      $453,000
      3,920 SF

      Airplane Hangar in Southern Utah

      Well-maintained airplane hangar, ideal for private aircraft storage and aviation.
      2360 W Aviation Way, Cedar City, UT 84721
      View Details
    • $1,500,000
      8,859 SF

      Cedar City Income Property

      8,859 sq ft commercial building with tenant in place.
      246 E Fiddlers Canyon Rd, Cedar City, UT 84721
      View Details

    FAQs

    What type of property is this?
    Aviation real estate - Spacious hangar ideal for aviation enthusiasts or business operations.
    Where is this aviation real estate located?
    The property is located at 2402 W Aviation Way Cedar City, UT.
    What is the asking price?
    The asking price for this property is $890,000.
    What are key features of this property?
    This property features: - One of the largest airplane hangars in Southern Utah.; - Ideally located for convenience and accessibility.; - Easily accommodates larger aircraft with ample room for equipment and workspace.
    (435) 586-9775
    Request Owner's contact information
    2402 W Aviation Way Cedar City, UT 84721
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2402 W Aviation Way
    Cedar City, UT 84721
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2402 W Aviation Way Cedar City, UT 84721
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jennifer Davis
    (435) 586-9775 (435) 586-2777 (816) 587-4411
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!