Multi-Tenant Shopping
New
For Sale
$7,595,000
2051 East Red Hills Parkway, St George, UT 84770
Retail property with multiple tenants and visibility from I-15.
Property Size20,720 SF
Days on Market7
Property Features for 2051 East Red Hills Parkway
General Information
Standard status
Active
Size
20,720 SF
Property subtype
Retail
Building Details
Building Size
20,720 SF
Tenancy
Multi
Listing Agency:
NAI Excel
(435) 627-5752
Listed By:
Curren Christensen · License #6431250-SA00
Source:
Naiglobal
Added: Aug 16
Changed: Aug 17
Last Checked: Aug 21 at 5:32AM
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 NAI Excel
Investment Insights
Based on property information with market context.
This shopping center is configured as a multi-tenant retail property, offering a commercial setting for multiple retail occupants. The asset is positioned along East Red Hills Parkway with visibility from I-15. The property address is 2051 East Red Hills Parkway, St. George, UT 84770.
Key Highlights
- Multi‑tenant shopping center
- Retail property with multiple occupants
- Visible from I‑15
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
$255,328
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
3.36%
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%
$5,106,560
$5.1M
Cap Rate 7%
$3,647,543
$3.6M
Cap Rate 9%
$2,836,978
$2.8M
Market Conditions
NOI Build-Up for 20,720 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
$373.0K $18.00/SF
− Vacancy
−$8.2K −$0.40/SF
EGI
$364.8K $17.60/SF
− OpEx
−$109.4K −$5.28/SF
NOI
$255.3K $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%
$5,106,560
Cap Rate 7%
$3,647,543
Cap Rate 9%
$2,836,978
Alternative Uses
Best Use
Retail
$3.65M
$3.19M – $4.26M
NOI $255,328 @ 7.0% cap · market cap 3.36%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.71M
$4.99M – $6.66M
NOI $399,401 @ 7.0% cap · market cap 5.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
729
Businesses Nearby
124k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 80%
Dining 8%
Shops & Services 6%
Home Improvements & Furnishings 3%
JCPenney
Apparel
36,420 visits/mo
0.5 miles
Dillard's
Apparel
33,338 visits/mo
0.4 miles
Deseret Industries
Apparel
26,460 visits/mo
0.5 miles
Jimmy John's
Dining
6,665 visits/mo
0.3 miles
Wells Fargo
Shops & Services
6,294 visits/mo
0.3 miles
Demographics for 84770, UT
44,505
Population
21,173
Households
2.1
Avg Household Size
36
Median Age
29%
College-Educated
93%
High-School Grad
72.1 sq mi
ZIP Area
617
Density / Sq Mi
$68,174
Median Household Income
$34,586
Median Earnings
$1,344
Median Rent
$407,100
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.
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- The Shoppes at Zion — 250 N Red Clfs Dr, St. George, UT 84790
Frequently Asked Questions
What type of property is this?
Shopping center - Retail property with multiple tenants and visibility from I-15.
Where is this shopping center located?
The property is located at 2051 East Red Hills Parkway St George, UT.
What is the asking price?
The asking price for this property is $7,595,000.
What are key features of this property?
This property features: Multi‑tenant shopping center; Retail property with multiple occupants; Visible from I‑15
