Multi-Space Office
For Sale
$1,500,000
246 E Fiddlers Canyon Rd, Cedar City, UT 84721
Office building offering 13 office spaces, conference and multipurpose rooms, plus kitchen and gym areas.
Property Size8,859 SF
Price / SF$169.32
Days on Market140
Property Features for 246 E Fiddlers Canyon Rd
General Information
Standard status
Active
Size
8,859 SF
Additional Details
Office Units
13
Amenities
conference room
kitchen area
gym
Building Details
Year Built
1984
Listing Agency:
Stratum Real Estate Group So Branch
Listed By:
Jesse Guy Carter · License #8651453-SA00
(435) 586-4874
Source:
Utahluxuryhometeam
Added: Apr 24
Changed: Sep 8
Last Checked: Sep 10 at 12:19AM
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 Stratum Real Estate Group So Branch
Investment Insights
Based on property information with market context.
This income-producing office building features 13 office spaces along with four large multi-purpose rooms and one large conference room. The layout also includes a kitchen area and a large gym, supporting a range of office and meeting-related use within the property.
The building includes ample parking and an outdoor area. The property is currently in place with tenant rental income through 10/1/2027.
Overall, the configuration provides a multi-room office environment with dedicated meeting space and support areas, suited to an owner seeking ongoing income from the existing tenancy.
The building includes ample parking and an outdoor area. The property is currently in place with tenant rental income through 10/1/2027.
Overall, the configuration provides a multi-room office environment with dedicated meeting space and support areas, suited to an owner seeking ongoing income from the existing tenancy.
Key Highlights
- Building size: 8,859 sq ft with 13 office spaces
- Includes 1 large conference room plus 4 large multipurpose rooms
- Kitchen area and large gym included
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
$90,415
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
6.03%
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%
$1,808,300
$1.8M
Cap Rate 7%
$1,291,643
$1.3M
Cap Rate 9%
$1,004,611
$1.0M
Market Conditions
NOI Build-Up for 8,859 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
$127.6K $14.40/SF
− Vacancy
−$7.0K −$0.79/SF
EGI
$120.6K $13.61/SF
− OpEx
−$30.1K −$3.40/SF
NOI
$90.4K $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%
$1,808,300
Cap Rate 7%
$1,291,643
Cap Rate 9%
$1,004,611
Alternative Uses
Best Use
Office B
$1.29M
$1.13M – $1.51M
NOI $90,415 @ 7.0% cap · market cap 6.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.81M
$1.58M – $2.11M
NOI $126,649 @ 7.0% cap · market cap 8.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
13
Office units
Location Intelligence
Trade Area within ½ mile
321
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
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Office building offering 13 office spaces, conference and multipurpose rooms, plus kitchen and gym areas.
Where is this office building located?
The property is located at 246 E Fiddlers Canyon Rd Cedar City, UT.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Building size: 8,859 sq ft with 13 office spaces; Includes 1 large conference room plus 4 large multipurpose rooms; Kitchen area and large gym included
