Freestanding Office
New
For Sale
Contact for pricing
1789 N Wedgewood Lane, Cedar City, UT 84721
Established office building offering a substantial professional workspace in Cedar City.
Property Size18,083 SF
Price / SF$248.85
Days on Market4
Property Features for 1789 N Wedgewood Lane
General Information
Standard status
Active
Size
18,083 SF
Class
B
Property subtype
Office
Building Details
Year Built
2001
Year Renovated
2022
Listing Agency:
LINX Comercial Real Estate
Listed By:
Andrew Sorensen · License #UT 6541652-SA00
Source:
Crexi
Added: Aug 28
Changed: Aug 31
Last Checked: Aug 31 at 8:44AM
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 LINX Comercial Real Estate
Investment Insights
Based on property information with market context.
This freestanding office building contains 18,083 square feet and was constructed in 2001, providing a substantial commercial setting for office operations. The property is identified as an office building and is offered for sale.
Located at 1789 N Wedgewood Lane in Cedar City, Utah, the building sits just off North Main Street. Its established construction date and office classification provide a clear foundation for evaluating the property as a professional workplace.
Located at 1789 N Wedgewood Lane in Cedar City, Utah, the building sits just off North Main Street. Its established construction date and office classification provide a clear foundation for evaluating the property as a professional workplace.
Key Highlights
- 18,083‑square‑foot office building
- Constructed in 2001
- 1789 N Wedgewood Lane, Cedar City, UT 84721
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
$184,555
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%
$3,691,100
$3.7M
Cap Rate 7%
$2,636,500
$2.6M
Cap Rate 9%
$2,050,611
$2.1M
Market Conditions
NOI Build-Up for 18,083 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
$260.4K $14.40/SF
− Vacancy
−$14.3K −$0.79/SF
EGI
$246.1K $13.61/SF
− OpEx
−$61.5K −$3.40/SF
NOI
$184.6K $10.21/SF
Area
Iron County, UT
Vacancy
5.50%
Lease Rate
$14.40 /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%
$3,691,100
Cap Rate 7%
$2,636,500
Cap Rate 9%
$2,050,611
Alternative Uses
Best Use
Office B
$2.64M
$2.31M – $3.08M
NOI $184,555 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.69M
$3.23M – $4.31M
NOI $258,517 @ 7.0% cap · market cap 5.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
442
Businesses Nearby
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 Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Established office building offering a substantial professional workspace in Cedar City.
Where is this office building located?
The property is located at 1789 N Wedgewood Lane Cedar City, UT.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 18,083‑square‑foot office building; Constructed in 2001; 1789 N Wedgewood Lane, Cedar City, UT 84721
