Three-Unit Short-Term Rental
New
For Sale
$699,900
1649 W State St, Hurricane, UT 84737
Highway Commercial zoning, separate utility meters, and flexible residential configuration support multiple operating options.
Property Size2,792 SF
Lot Size0.58 Acres
Price / SF$250.68
Days on Market3
Property Features for 1649 W State St
General Information
Standard status
Active
Size
2,792 SF
Lot size
0.58 Acres
Property subtype
Multi-Family
Zoning
Highway Commercial
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
3
Building Details
Year Built
1973
Listing Agency:
KW Ascend Keller Williams Realty
Listed By:
Kade K Ence
(435) 862-9955
Source:
Utahluxuryhometeam
Added: Sep 9
Last Checked: Sep 10 at 10:57AM
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 KW Ascend Keller Williams Realty
Investment Insights
Based on property information with market context.
This 0.58-acre property is configured with one primary residence and two active short-term rental units. The parcel is fully fenced and provides abundant parking and open space. Separate utility meters and mini-split systems serve the rental units, while the property carries a grandfathered residential overlay within Highway Commercial zoning. There is no HOA, and the setting has no adjacent residential neighbors.
Located at 1649 W State St in Hurricane, the property sits off State Street with a private setting and convenient downtown access. Zion National Park is approximately 25 minutes away, while Sand Hollow State Park and Quail Creek State Park are each about 10 minutes away.
The zoning supports a range of potential commercial and rental applications, including additional rental units or business operations, subject to applicable approvals. The existing three-unit layout offers a combination of residential occupancy and short-term rental use.
Located at 1649 W State St in Hurricane, the property sits off State Street with a private setting and convenient downtown access. Zion National Park is approximately 25 minutes away, while Sand Hollow State Park and Quail Creek State Park are each about 10 minutes away.
The zoning supports a range of potential commercial and rental applications, including additional rental units or business operations, subject to applicable approvals. The existing three-unit layout offers a combination of residential occupancy and short-term rental use.
Key Highlights
- 0.58‑acre fully fenced parcel with abundant parking and open space
- Three‑unit configuration: one primary residence plus two active short‑term rentals
- Highway Commercial zoning with a grandfathered residential overlay
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
$31,022
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
4.43%
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%
$620,440
$620.4K
Cap Rate 7%
$443,171
$443.2K
Cap Rate 9%
$344,689
$344.7K
Market Conditions
NOI Build-Up for 2,792 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
$58.6K $21.00/SF
− Vacancy
−$2.2K −$0.80/SF
EGI
$56.4K $20.20/SF
− OpEx
−$25.4K −$9.09/SF
NOI
$31.0K $11.11/SF
Area
Washington County, UT
Vacancy
3.80%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
45.00%
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%
$620,440
Cap Rate 7%
$443,171
Cap Rate 9%
$344,689
Alternative Uses
Best Use
Apartment 5plus
$443.2K
$387.8K – $517.0K
NOI $31,022 @ 7.0% cap · market cap 4.43%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$768.8K
$672.7K – $897.0K
NOI $53,819 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
229
Businesses Nearby
Explore this area
Business Placement
Demographics for 84737, UT
21,212
Population
9,320
Households
2.3
Avg Household Size
39
Median Age
26%
College-Educated
95%
High-School Grad
250.1 sq mi
ZIP Area
85
Density / Sq Mi
$70,417
Median Household Income
$31,315
Median Earnings
$1,239
Median Rent
$420,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Short term rental property - Highway Commercial zoning, separate utility meters, and flexible residential configuration support multiple operating options.
Where is this short term rental property located?
The property is located at 1649 W State St Hurricane, UT.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 0.58‑acre fully fenced parcel with abundant parking and open space; Three‑unit configuration: one primary residence plus two active short‑term rentals; Highway Commercial zoning with a grandfathered residential overlay
