Manufacturing Building with 3-Phase
For Sale
$5,600,000
2331 Park Ave, Cedar City, UT 84721
Industrial facility near Cedar City Regional Airport with warehouse, office, loading, and connectivity infrastructure.
Property Size29,854 SF
Price / SF$187.58
Days on Market10
Property Features for 2331 Park Ave
General Information
Standard status
Active
Size
29,854 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$10,384
Amenities
3
1.15
Building Details
Year Built
2007
Listing Agency:
ERA Realty Center
(435) 592-2172
Listed By:
Mari Eddy · License #8919028-SA
(435) 592-2172
Source:
Xome
Added: Jul 31
Changed: Aug 9
Last Checked: Aug 9 at 7:50AM
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 ERA Realty Center
Investment Insights
Based on property information with market context.
This manufacturing-oriented commercial building combines approximately 22,000 square feet of warehouse and production area with office space, a call center, mezzanine storage, and a flexible interior layout. Upgraded electrical service includes 3-phase power for industrial equipment and power-intensive operations. The property also has extensive CAT 5 cabling and a fiber vault for connectivity needs.
Located near Cedar City Regional Airport, the facility includes two loading docks and two grade-level bay doors to support receiving and distribution functions. The building was constructed in 2007 and is positioned at 2331 Park Ave in Cedar City, Utah.
Located near Cedar City Regional Airport, the facility includes two loading docks and two grade-level bay doors to support receiving and distribution functions. The building was constructed in 2007 and is positioned at 2331 Park Ave in Cedar City, Utah.
Key Highlights
- Approximately 22,000 square feet of warehouse and manufacturing space
- 3‑phase electrical power supports industrial equipment and production operations
- Two loading docks and two grade‑level bay doors
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
$304,690
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
5.44%
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%
$6,093,800
$6.1M
Cap Rate 7%
$4,352,714
$4.4M
Cap Rate 9%
$3,385,444
$3.4M
Market Conditions
NOI Build-Up for 29,854 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
$429.9K $14.40/SF
− Vacancy
−$23.6K −$0.79/SF
EGI
$406.3K $13.61/SF
− OpEx
−$101.6K −$3.40/SF
NOI
$304.7K $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%
$6,093,800
Cap Rate 7%
$4,352,714
Cap Rate 9%
$3,385,444
Alternative Uses
Best Use
Office B
$4.35M
$3.81M – $5.08M
NOI $304,690 @ 7.0% cap · market cap 5.44%
Second Best
Warehouse
$3.99M
$3.49M – $4.65M
NOI $279,230 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$6.10M
$5.33M – $7.11M
NOI $426,797 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
138
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?
Manufacturing property - Industrial facility near Cedar City Regional Airport with warehouse, office, loading, and connectivity infrastructure.
Where is this manufacturing property located?
The property is located at 2331 Park Ave Cedar City, UT.
What is the asking price?
The asking price for this property is $5,600,000.
What are key features of this property?
This property features: Approximately 22,000 square feet of warehouse and manufacturing space; 3‑phase electrical power supports industrial equipment and production operations; Two loading docks and two grade‑level bay doors
