Flex Space with Drive-In
New
For Sale
$1,100,000
150 S STATE ST, La Verkin, UT 84745
A remodeled showroom and dedicated service area are complemented by warehouse storage, an office, and an on-site bathroom.
Property Size4,212 SF
Lot Size0.41 Acres
Price / SF$261.16
Days on Market4
Property Features for 150 S STATE ST
General Information
Standard status
Active
Size
4,212 SF
Lot size
0.41 Acres
Property subtype
Retail
Additional Details
Asking Price
$1,100,000
Road Access
Yes
Drive-In Doors
4
Amenities
lighted display cabinets
private patio
8 ft privacy walls
full security camera system
Building Details
Building Size
4,212 SF
Year Built
1991
Buildings
1
Listing Agency:
White Crow Real Estate
Listed By:
Shellee Haines · License #75474
(435) 229-2522
Source:
Liftrealty
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 2:56PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of White Crow Real Estate
Investment Insights
Based on property information with market context.
This 4,212-square-foot flex property on a 0.41-acre lot pairs a remodeled retail showroom with a service-oriented rear area. Showroom features include lighted display cabinets and a private patio enclosed by 8-foot privacy walls. A security camera system serves the property. Four garage doors provide access to three drive-in bays: one has 14 feet of clearance, and two have 10 feet each. Warehouse storage, a professional office, and an on-site bathroom round out the building. The property was built in 1991.
The site fronts State Street (SR-17), a commercial corridor connecting La Verkin with Hurricane and the Zion National Park corridor to I-15. The stated use potential includes automotive, light manufacturing, contracting, retail distribution, and flex-space conversion.
The site fronts State Street (SR-17), a commercial corridor connecting La Verkin with Hurricane and the Zion National Park corridor to I-15. The stated use potential includes automotive, light manufacturing, contracting, retail distribution, and flex-space conversion.
Key Highlights
- 4,212‑square‑foot building on a 0.41‑acre lot
- Four garage doors access three drive‑in bays
- Bay clearances: one at 14 feet and two at 10 feet
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
$51,904
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
4.72%
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%
$1,038,080
$1.0M
Cap Rate 7%
$741,486
$741.5K
Cap Rate 9%
$576,711
$576.7K
Market Conditions
NOI Build-Up for 4,212 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
$75.8K $18.00/SF
− Vacancy
−$1.7K −$0.40/SF
EGI
$74.1K $17.60/SF
− OpEx
−$22.2K −$5.28/SF
NOI
$51.9K $12.32/SF
Area
Washington County, UT
Vacancy
2.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,038,080
Cap Rate 7%
$741,486
Cap Rate 9%
$576,711
Alternative Uses
Best Use
Retail
$741.5K
$648.8K – $865.1K
NOI $51,904 @ 7.0% cap · market cap 4.72%
Second Best
Flex RnD
$430.4K
$376.6K – $502.1K
NOI $30,126 @ 7.0% cap · market cap 2.74%
Theoretical Best
Specialty Retail
$1.16M
$1.01M – $1.35M
NOI $81,191 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
151
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 84745, UT
4,347
Population
1,507
Households
2.9
Avg Household Size
34
Median Age
22%
College-Educated
96%
High-School Grad
5.0 sq mi
ZIP Area
869
Density / Sq Mi
$63,061
Median Household Income
$31,171
Median Earnings
$1,316
Median Rent
$366,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - A remodeled showroom and dedicated service area are complemented by warehouse storage, an office, and an on-site bathroom.
Where is this flex space located?
The property is located at 150 S STATE ST La Verkin, UT.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 4,212‑square‑foot building on a 0.41‑acre lot; Four garage doors access three drive‑in bays; Bay clearances: one at 14 feet and two at 10 feet
