Clear-Span Aviation Hangar with
For Sale
$785,000
2390 AVIATION WAY #3, Cedar City, UT 84721
Aviation facility combining private offices, restrooms, and a high-clearance aircraft storage area with runway access.
Property Size7,844 SF
Price / SF$100.08
Days on Market174
Property Features for 2390 AVIATION WAY #3
General Information
Standard status
Active
Size
7,844 SF
Property subtype
Industrial
Warehouse & Industrial
Clear Height
12 ft
Clear Span
Yes
Warehouse Space
6,480 SF
Office Build-Out
1,364 SF
Drive-In Doors
2
Amenities
3
0.27
Building Details
Year Built
2007
Building Size
7,844 SF
Listing Agency:
ERA Realty Center
(435) 590-1317
Listed By:
Jennifer Davis · License #5458788-AB
(435) 590-1317
Source:
Xome
Added: Mar 12
Changed: Aug 31
Last Checked: Aug 31 at 12:56PM
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 aviation property contains 7,844 square feet arranged for both administrative and aircraft-related functions. The finished office component measures 1,364 square feet and includes eight private offices, a workroom, reception area, and restrooms. A separate 6,480-square-foot clear-span hangar provides open storage and work space, with a 12-foot eave height and 17-foot ridgeline.
Aircraft access is supported by two overhead doors: a 14' x 12' door and a 60' x 15.5' electric bi-fold door. The property is located at 2390 W Aviation Way #3 in Cedar City, Utah, with runway access identified as a site feature. The associated land area is 12,030 square feet, and the building was constructed in 2007.
Aircraft access is supported by two overhead doors: a 14' x 12' door and a 60' x 15.5' electric bi-fold door. The property is located at 2390 W Aviation Way #3 in Cedar City, Utah, with runway access identified as a site feature. The associated land area is 12,030 square feet, and the building was constructed in 2007.
Key Highlights
- 7,844 SF aviation facility with 1,364 SF of finished office area and 6,480 SF of hangar area
- Office component includes eight private offices, a workroom, reception area, and restrooms
- Clear‑span hangar with a 12‑foot eave height and 17‑foot ridgeline
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
$60,419
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
7.70%
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%
$1,208,380
$1.2M
Cap Rate 7%
$863,129
$863.1K
Cap Rate 9%
$671,322
$671.3K
Market Conditions
NOI Build-Up for 7,844 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
$87.5K $11.16/SF
− Vacancy
−$1.2K −$0.16/SF
EGI
$86.3K $11.00/SF
− OpEx
−$25.9K −$3.30/SF
NOI
$60.4K $7.70/SF
Area
Iron County, UT
Vacancy
1.40%
Lease Rate
$11.16 /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%
$1,208,380
Cap Rate 7%
$863,129
Cap Rate 9%
$671,322
Alternative Uses
Best Use
Industrial
$863.1K
$755.2K – $1.01M
NOI $60,419 @ 7.0% cap · market cap 7.70%
Second Best
Flex RnD
$801.5K
$701.3K – $935.1K
NOI $56,104 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$1.60M
$1.40M – $1.87M
NOI $112,139 @ 7.0% cap · market cap 14.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
12 ft
Clear height
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
178
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 Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Aviation real estate - Aviation facility combining private offices, restrooms, and a high-clearance aircraft storage area with runway access.
Where is this aviation real estate located?
The property is located at 2390 AVIATION WAY #3 Cedar City, UT.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: 7,844 SF aviation facility with 1,364 SF of finished office area and 6,480 SF of hangar area; Office component includes eight private offices, a workroom, reception area, and restrooms; Clear‑span hangar with a 12‑foot eave height and 17‑foot ridgeline
