Industrial Flex Building with 3-Phase
2331 W Park Ave, Cedar City, UT 84721
For Sale
$5,600,000
Commercial Sale, Cedar City, UT
Property Size32,793 SF
Lot Size1.15 Acres
Price / SF$170.77
Days on Market99
Property Features for 2331 W Park Ave
General Information
Property type
Property subtype
Zoning description
Directions
Subdivision
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Annual Amount
Building Details
Year built
Floors in Building
Listing Agency:
ERA Realty Center
(435) 586-2777
Listed By:
Mari G. Eddy · License #8919028-SA
(435) 592-2172
Added: Aug 3
Changed: Oct 2
Last Checked: Nov 9 at 3:06AM
MLS# 26-274745
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.
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Investment Insights
Based on property information with market context.
Built in 2007, this 32,793-square-foot flex property combines approximately 22,000 square feet of warehouse and manufacturing area with office space, a call center area, mezzanine storage, and a flexible interior layout. Upgraded electrical infrastructure includes 3-phase power, while CAT 5 cabling and a fiber vault support on-site connectivity. The property includes two loading docks and two grade-level bay doors.
Set on 1.15 acres at 2331 W Park Ave in Cedar City, the building is located near Cedar City Regional Airport. Its mix of industrial space, offices, storage, loading access, and power infrastructure supports a range of manufacturing, distribution, logistics, technology, and commercial operations.
Set on 1.15 acres at 2331 W Park Ave in Cedar City, the building is located near Cedar City Regional Airport. Its mix of industrial space, offices, storage, loading access, and power infrastructure supports a range of manufacturing, distribution, logistics, technology, and commercial operations.
Key Highlights
- 32,793‑square‑foot building on 1.15 acres
- Approximately 22,000 square feet of warehouse and manufacturing space
- 3‑phase power with upgraded electrical infrastructure
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
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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
$345,000
Median Home Value
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Market
Average Price Trend$/SF for Flex space in Cedar City, UT
Properties on Market for Flex space in Cedar City
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Flex space - Flexible industrial property with warehouse, manufacturing, office, and call center areas.
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 on 1.15 acres; Approximately 22,000 square feet of warehouse and manufacturing space; 3‑phase power with upgraded electrical infrastructure
