Downtown Restaurant
For Sale
$350,000
20 S Main St, Cedar City, UT 84720
Commercial Sale, Cedar City, UT
Property Size2,447 SF
Lot Size0.01 Acres
Price / SF$143.03
Days on Market75
Property Features for 20 S Main St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Subdivision
Outside Area
Standard status
Active
Size
2,447 SF
Lot size
0.01 Acres
Building Details
Year built
1989
Floors in Building
1
Listing Agency:
Stratum Real Estate Group So Branch
(435) 586-4874
Listed By:
JASON V. SPENCER
(435) 590-7070
Added: Jun 17
Changed: Aug 27
Last Checked: Aug 30 at 2:06AM
MLS# 26-274080
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 2,447-square-foot commercial space was built in 1989 and is occupied by a tenant. The property carries CC zoning and is positioned within Cedar City’s downtown Main Street district at 20 S Main St.
The setting includes local shops, coffee businesses, and Centro Woodfired Pizzeria nearby, with Hampton Inn & Suites also close to the property. The 0.01-acre site offers a compact downtown commercial footprint in a pedestrian-oriented area where people can walk between businesses.
The setting includes local shops, coffee businesses, and Centro Woodfired Pizzeria nearby, with Hampton Inn & Suites also close to the property. The 0.01-acre site offers a compact downtown commercial footprint in a pedestrian-oriented area where people can walk between businesses.
Key Highlights
- 2,447‑square‑foot commercial space built in 1989
- CC zoning supports the property’s downtown commercial setting
- Existing tenant in place
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
$20,031
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
5.72%
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%
$400,620
$400.6K
Cap Rate 7%
$286,157
$286.2K
Cap Rate 9%
$222,567
$222.6K
Market Conditions
NOI Build-Up for 2,447 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
$27.3K $11.16/SF
− Vacancy
−$601 −$0.25/SF
EGI
$26.7K $10.91/SF
− OpEx
−$6.7K −$2.73/SF
NOI
$20.0K $8.19/SF
Area
Iron County, UT
Vacancy
2.20%
Lease Rate
$11.16 /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%
$400,620
Cap Rate 7%
$286,157
Cap Rate 9%
$222,567
Alternative Uses
Best Use
Specialty Retail
$286.2K
$250.4K – $333.9K
NOI $20,031 @ 7.0% cap · market cap 5.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$499.8K
$437.3K – $583.1K
NOI $34,983 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,254
Businesses Nearby
56k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 31%
Dining 28%
Shops & Services 28%
Hotels & Casinos 8%
Hurst Ace Hardware
Home Improvements & Furnishings
17,346 visits/mo
0.1 miles
Maverik Adventures First Stop
Shops & Services
10,011 visits/mo
0.2 miles
Great Harvest Bread Co.
Dining
7,990 visits/mo
0.3 miles
Phillips 66
Shops & Services
5,523 visits/mo
0.0 miles
Best Western Plus Cedar City
Hotels & Casinos
4,530 visits/mo
0.3 miles
Demographics for 84720, UT
23,607
Population
8,984
Households
2.6
Avg Household Size
28
Median Age
35%
College-Educated
95%
High-School Grad
341.5 sq mi
ZIP Area
69
Density / Sq Mi
$63,742
Median Household Income
$29,979
Median Earnings
$932
Median Rent
$357,400
Median Home Value
Market
Vacancy Rate% for Retail 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?
Conventional restaurant - CC-zoned space with an existing tenant on Cedar City’s walkable Main Street corridor.
Where is this conventional restaurant located?
The property is located at 20 S Main St Cedar City, UT.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 2,447‑square‑foot commercial space built in 1989; CC zoning supports the property’s downtown commercial setting; Existing tenant in place
