New Flex Space with Garage
For Sale
$1,278,000
814 N 2475 W, Cedar City, UT 84721
Commercial Sale, Cedar City, UT
Property Size6,000 SF
Lot Size0.34 Acres
Price / SF$213
Days on Market218
Property Features for 814 N 2475 W
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Industrial
Directions
Airport Road to 850 N (Coal Creek Industrial Park), west to 2475 W cul-de-sac.
Subdivision
Outside Area
Standard status
Active
APN
b-0970-0011-0000
Size
6,000 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Annual Amount
520
Amenities
natural gas
hot and cold water spigots
interior LED light package
outside LED security lights
full finished bathroom
Building Details
Year built
2026
Floors in Building
1
Listing Agency:
PRESTIGE REALTY
(435) 590-1426
Listed By:
JENNIE HENDRICKS · License #5483612-PB00
(801) 599-1206
Added: Jan 30
Changed: Aug 31
Last Checked: Sep 5 at 3:06PM
MLS# 26-268597
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.
Built in 2026, this flex-space property offers 6,000 square feet with interior layouts that can be configured for 3,000 square feet, 3,000 square feet or the full 6,000 square feet. Loft areas are also available for design planning. Each unit includes a finished bathroom, a reinforced 6-inch concrete slab, natural gas, hot and cold water spigots, and a 200 Amp single-phase electrical panel.
The building provides an 18-foot eave height and a 23-foot ceiling height at the center ridge. Each unit has one 10-foot by 14-foot insulated garage door, one 10-foot by 10-foot insulated garage door, two 50 Amp 220 V outlets, a 25-foot by 20-foot fenced rear yard, interior LED lighting, and perimeter LED security lighting.
The building provides an 18-foot eave height and a 23-foot ceiling height at the center ridge. Each unit has one 10-foot by 14-foot insulated garage door, one 10-foot by 10-foot insulated garage door, two 50 Amp 220 V outlets, a 25-foot by 20-foot fenced rear yard, interior LED lighting, and perimeter LED security lighting.
Key Highlights
- 6,000 SF flex‑space property with 3,000 SF or full‑building configuration options
- 18' eave height and 23' ceiling height at the center ridge
- One 10' x 14' and one 10' x 10' insulated garage door per unit
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
$56,119
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
4.39%
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%
$1,122,380
$1.1M
Cap Rate 7%
$801,700
$801.7K
Cap Rate 9%
$623,544
$623.5K
Market Conditions
NOI Build-Up for 6,000 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
$67.0K $11.16/SF
− Vacancy
−$937 −$0.16/SF
EGI
$66.0K $11.00/SF
− OpEx
−$9.9K −$1.65/SF
NOI
$56.1K $9.35/SF
Area
Iron County, UT
Vacancy
1.40%
Lease Rate
$11.16 /SF/Yr
Expense Ratio
15.00%
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%
$1,122,380
Cap Rate 7%
$801,700
Cap Rate 9%
$623,544
Alternative Uses
Best Use
Warehouse
$801.7K
$701.5K – $935.3K
NOI $56,119 @ 7.0% cap · market cap 4.39%
Second Best
Industrial
$660.2K
$577.7K – $770.3K
NOI $46,216 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$1.23M
$1.07M – $1.43M
NOI $85,777 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
252
Businesses Nearby
Well-served
Demand for This Use
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 Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Configurable commercial space with loft areas, utility connections, finished bathrooms, and fenced rear yards.
Where is this flex space located?
The property is located at 814 N 2475 W Cedar City, UT.
What is the asking price?
The asking price for this property is $1,278,000.
What are key features of this property?
This property features: 6,000 SF flex‑space property with 3,000 SF or full‑building configuration options; 18' eave height and 23' ceiling height at the center ridge; One 10' x 14' and one 10' x 10' insulated garage door per unit
