Building Details

Year built 1998

Floors in Building 1

Listing Agency: WHITE CROW REAL ESTATE h***@gmail.com Show Phone

Listed By: SHELLEE Annette HAINES Show Phone

Added: Dec 17, 2024 Changed: Aug 4 Last Checked: Aug 21 at 3:06PM

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MLS# 24-256834

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 8,500-square-foot restaurant property operates as a multi-use commercial destination with a restaurant, gift shop, petting zoo, and living quarters. The sale includes all furniture, fixtures, and equipment, while inventory is handled separately. The property was built in 1998 and occupies 5.78 acres.

Located along SR-9 in Virgin, Utah, the property backs up to BLM land. Its combination of food service, retail, visitor-oriented amenities, and residential space supports the existing business configuration while providing the physical setting for future expansion as described in the offering.

Key Highlights

• 8,500‑square‑foot restaurant property on 5.78 acres
• Restaurant, gift shop, petting zoo, and living quarters included
• Sale includes all FF&E; inventory sold under a separate bill of sale

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

$163,847

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

4.10%

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%

$3,276,940 $3.3M

Cap Rate 7%

$2,340,671 $2.3M

Cap Rate 9%

$1,820,522 $1.8M

Market Conditions

NOI Build-Up for 8,500 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

$221.3K $26.04/SF

− Vacancy

−$2.9K −$0.34/SF

EGI

$218.5K $25.70/SF

− OpEx

−$54.6K −$6.43/SF

NOI

$163.8K $19.28/SF

Area

Washington County, UT

Vacancy

1.30%

Lease Rate

$26.04 /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%

$3,276,940

Cap Rate 7%

$2,340,671

Cap Rate 9%

$1,820,522

Alternative Uses

Best Use

Specialty Retail

$2.34M

$2.05M – $2.73M (±1% cap)

NOI $163,847 @ 7.0% cap · market cap 4.10%

Second Best

Retail

$1.50M

$1.31M – $1.75M (±1% cap)

NOI $104,744 @ 7.0% cap · market cap 2.62%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Conventional restaurants

Lease Details

Turnkey business

Opportunity

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

21

Businesses Nearby

Explore this area Business Placement

Demographics for 84779, UT

730

Population

574

Households

1.3

Avg Household Size

44

Median Age

26%

College-Educated

90%

High-School Grad

232.0 sq mi

ZIP Area

3

Density / Sq Mi

$80,625

Median Household Income

$27,857

Median Earnings

$466,300

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Questions? Ask Rey

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What type of property is this? Where is this conventional restaurants located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Multi-use commercial property combining food service, retail, animal exhibits, and living quarters.

Where is this conventional restaurant located?

The property is located at 1000 W SR 9 Virgin, UT.

What is the asking price?

The asking price for this property is $4,000,000.

What are key features of this property?

This property features: 8,500‑square‑foot restaurant property on 5.78 acres; Restaurant, gift shop, petting zoo, and living quarters included; Sale includes all FF&E; inventory sold under a separate bill of sale