Flex Space with 3-Phase
For Sale
$5,600,000
2331 W Park Ave, Cedar City, UT 84721
Industrial-zoned space combines warehouse and production areas with offices and a dedicated call center.
Property Size32,793 SF
Price / SF$170.77
Days on Market84
Property Features for 2331 W Park Ave
General Information
Standard status
Active
Size
32,793 SF
Property subtype
Commercial
Zoning
Industrial
Warehouse & Industrial
Warehouse Space
22,000 SF
Dock-High Doors
2
Drive-In Doors
2
Three-Phase Power
Yes
Heavy Power
Yes
Additional Details
Property Use
Warehouse and Manufacturing
Taxes and HOA fees
Annual Taxes
$10,383
Building Details
Building Size
32,793 SF
Year Built
2007
Buildings
1
Stories
2
Listing Agency:
S. HINDI REAL ESTATE INC
Listed By:
Sarah Hindi & Annica Wright
(435) 773-3905
Source:
Hindihometeam
Added: Aug 3
Changed: Oct 24
Last Checked: Oct 24 at 2:48PM
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 S. HINDI REAL ESTATE INC
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Investment Insights
Based on property information with market context.
Built in 2007, this 32,793-square-foot flex property includes approximately 22,000 square feet for warehouse and manufacturing use. The balance of the building includes office areas, a call center, and mezzanine storage. Industrial zoning supports its commercial and industrial configuration.
Power and connectivity features include 3-phase electrical service, CAT 5 cabling throughout, and a fiber vault on the property. Two loading docks and two grade-level bay doors support loading and receiving. The property is near Cedar City Regional Airport at 2331 W Park Ave in Cedar City.
Power and connectivity features include 3-phase electrical service, CAT 5 cabling throughout, and a fiber vault on the property. Two loading docks and two grade-level bay doors support loading and receiving. The property is near Cedar City Regional Airport at 2331 W Park Ave in Cedar City.
Key Highlights
- 32,793‑square‑foot building, constructed in 2007
- Approximately 22,000 square feet of warehouse and manufacturing space
- 3‑phase power
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$306,719
Cap Rate
5.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,134,380
$6.1M
Cap Rate 7%
$4,381,700
$4.4M
Cap Rate 9%
$3,407,989
$3.4M
Market Conditions
NOI Build-Up for 32,793 SF
Gross rent
$366.0K $11.16/SF
− Vacancy
−$5.1K −$0.16/SF
EGI
$360.8K $11.00/SF
− OpEx
−$54.1K −$1.65/SF
NOI
$306.7K $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 Rate 5%
$6,134,380
Cap Rate 7%
$4,381,700
Cap Rate 9%
$3,407,989
Alternative Uses
Best Use
Warehouse
$4.38M
$3.83M – $5.11M
NOI $306,719 @ 7.0% cap · market cap 5.48%
Second Best
Industrial
$3.61M
$3.16M – $4.21M
NOI $252,592 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$6.70M
$5.86M – $7.81M
NOI $468,813 @ 7.0% cap · market cap 8.37%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Dock-high doors
2
Drive-in doors
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
138
Businesses Nearby
Well-served
Demand for This Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Flex space - Industrial-zoned space combines warehouse and production areas with offices and a dedicated call center.
Where is this flex space located?
The property is located at 2331 W 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: 32,793‑square‑foot building, constructed in 2007; Approximately 22,000 square feet of warehouse and manufacturing space; 3‑phase power
