Cedar City Hangar For
For Sale
Contact for pricing
Pending
2260 Aviation Way, Cedar City, UT
6,904 SF hangar with excellent I-15 access.
Property Size6,904 SF
Lot Size0.23 Acres
Days on Market268
Property Features for 2260 Aviation Way
General Information
Standard status
Pending
Size
6,904 SF
Lot size
0.23 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Colliers | Salt Lake City Millrock
(801) 947-8388
Listed By:
Don Enlow, SIOR · License #5451676-PB
Source:
Moodyscre
Added: Nov 27, 2025
Changed: Aug 9
Last Checked: Aug 22 at 1:43PM
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 Colliers | Salt Lake City Millrock
Investment Insights
Based on property information with market context.
This 6,904 square foot property is suitable for warehouse, industrial, aviation, or specialty use. Each unit includes an office and a small restroom. The property features 480 Volt / 3-Phase power and an 18-foot clear height. Access is facilitated by 56-foot by 17-foot bi-fold hangar doors. The property is zoned I & M-1 and offers excellent access to I-15. Recent improvements have been made to the runway and terminal.
Key Highlights
- Excellent access to I‑15
- 56’ x 17’ Bi‑fold hangar doors
- I & M‑1 Zoning
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
$64,574
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
6.52%
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%
$1,291,480
$1.3M
Cap Rate 7%
$922,486
$922.5K
Cap Rate 9%
$717,489
$717.5K
Market Conditions
NOI Build-Up for 6,904 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
$77.0K $11.16/SF
− Vacancy
−$1.1K −$0.16/SF
EGI
$76.0K $11.00/SF
− OpEx
−$11.4K −$1.65/SF
NOI
$64.6K $9.35/SF
Area
Iron County, UT
Vacancy
1.40%
Lease Rate
$11.16 /SF/Yr
Expense Ratio
15.00%
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%
$1,291,480
Cap Rate 7%
$922,486
Cap Rate 9%
$717,489
Alternative Uses
Best Use
Warehouse
$922.5K
$807.2K – $1.08M
NOI $64,574 @ 7.0% cap · market cap 6.52%
Second Best
Industrial
$759.7K
$664.7K – $886.3K
NOI $53,179 @ 7.0% cap · market cap 5.37%
Theoretical Best
Office A
$1.41M
$1.23M – $1.65M
NOI $98,700 @ 7.0% cap · market cap 9.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
128
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Bulloch Outdoor Self Storage — 2476 W 1600 N, Cedar City, UT 84721
Frequently Asked Questions
What type of property is this?
Warehouse - 6,904 SF hangar with excellent I-15 access.
Where is this warehouse located?
The property is located at 2260 Aviation Way Cedar City, UT.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Excellent access to I‑15; 56’ x 17’ Bi‑fold hangar doors; I & M‑1 Zoning
