Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    689 N Airport Rd Cedar City, UT 84721

    Sponsored
    For Sale
    $7,190,000

    COMMERCIAL - Cedar City, UT

    Property size:
    40,000 SF
    Lot size:
    10.50 Acres
    Days on Market:
    20
    Last Refresh:
    Jan 21 at 12:06 am

    Property Features for 689 N Airport Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    D*-0967-0002-0000
    Size
    40,000 SF
    Lot size
    10.50 Acres

    Building Details

    Year built
    2023
    Floors in Building
    1

    We can help!

    Listing Contact
    RICK H LUNT
    RICK H LUNT

    D & B REAL ESTATE* (435) 865-7500

    Listing agent RICK H LUNT

    Listing date Jan 2, 2026

    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

    Cedar City Warehouse with Acreage

    Located just off Airport Road in Cedar City, Utah, this property features a 40,000 square foot building constructed in 2023. The 10.5-acre parcel includes the building, which is equipped with four overhead drive-through doors providing convenient access. The interior includes one finished bathroom and two additional roughed-in bathrooms. Several office, conference, and storage rooms are approximately 70% complete. The building features heating and lighting.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Warehouses

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Building Supply Hair Salon Wholesale Shop Auto Repair Shop Clothing Store

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

    Similar Places Nearby

    Secure Box Self Storage, Kitty Hawk Storage, Bulloch Outdoor Self Storage

    Location Insight

    • Map
    • Local Demand
    City
    Cedar City
    County
    Iron
    State
    Utah
    Longitude
    -113.087656
    Latitude
    37.6892

    Nearby Similar for Sale

    • New
      $479,900
      2,650 SF

      Cedar City Duplex For Sale

      Well-priced duplex in Cedar City with spacious units and garages.
      Cedar City, UT 84720
      View Details
    • $639,000
      Pending

      Cedar City Legal Duplex

      Legal duplex perfect for investors or owner-occupants in Cedar City.
      289 W Mountain View Dr, Cedar City, UT 84720
      View Details
    • $3,990,000
      Pending

      Student Housing Investment Near SUU

      60-bed, 60-bath apartment complex near Southern Utah University.
      119 W Unit, Cedar City, UT 84720
      View Details
    • $575,000
      2,657 SF

      Updated Duplex in Cedar City

      Well-maintained investment property near schools, parks, and shopping.
      1220 N Cedar Blvd, Cedar City, UT 84721
      View Details
    • $4,490,000
      24,000 SF

      Commercial Building on Busy Street

      Four-level commercial building including land, located on a busy street.
      174 W 200 N, Cedar City, UT 84721
      View Details
    • $769,900
      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
    • $7,400,000
      33,264 SF

      Cedar City Student Apartment Building

      Established 24-unit student apartment building near SUU campus.
      1130 S Cedar Knl, Cedar City, UT 84720
      View Details
    • $1,500,000
      8,859 SF

      Cedar City Income Property

      8859 sq ft commercial building with tenant in place.
      246 E Fiddlers Canyon Rd, Cedar City, UT 84721
      View Details
    • $7,400,000
      33,264 SF

      Student Apartment Building Near SUU

      Established 24-unit apartment building near Southern Utah University.
      1130 S Cedar Knl, Cedar City, UT 84720
      View Details
    • $989,000
      Pending

      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
    • New
      $1,512,000
      7,212 SF

      Cedar City 6-Plex Investment Opportunity

      Six townhomes with quality construction in a fast-growing market.
      535 W 2530 N, Cedar City, UT 84720
      View Details
    • $3,799,990
      Pending

      Student Housing Investment Opportunity

      52-bed apartment complex near Southern Utah University.
      119 W Unit, Cedar City, UT 84720
      View Details

    FAQs

    What type of property is this?
    Warehouse - 40,000 SF building on 10.5 acres near Airport Road.
    Where is this warehouse located?
    The property is located at 689 N Airport Rd Cedar City, UT.
    What is the asking price?
    The asking price for this property is $7,190,000.
    What are key features of this property?
    This property features: - 40,000 sq ft building constructed in 2023.; - 10.5 acre parcel.; - Four overhead drive-through doors.
    (435) 865-7500
    Request Owner's contact information
    689 N Airport Rd 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.
    689 N Airport Rd
    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
    689 N Airport Rd 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
    RICK H LUNT
    RICK H LUNT
    (435) 865-7500
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.