Manufacturing Building on
For Sale
$1,190,000
285 E Highway 271, Parowan, UT 84761
COMMERCIAL - Parowan, UT
Property Size12,000 SF
Lot Size1.48 Acres
Price / SF$99.17
Days on Market229
Property Features for 285 E Highway 271
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Industrial, Commercial
Subdivision
Outside Area
Standard status
Active
APN
A-0002-0009-0001
Size
12,000 SF
Lot size
1.48 Acres
Building Details
Year built
1982
Floors in Building
1
Listing Agency:
D & B REAL ESTATE*
(435) 865-7500
Listed By:
RICK H LUNT · License #5478530
(435) 559-1520
Added: Jan 5
Changed: Aug 4
Last Checked: Aug 22 at 12:06AM
MLS# 26-267766
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.
Investment Insights
Based on property information with market context.
This manufacturing property includes a 12,000-square-foot building on 1.48 acres. Constructed in 1982, the facility is offered for both sale and lease, providing flexibility for an owner-user or occupant seeking an established industrial building.
The property is located at 285 E Highway 271 in Parowan, Utah, within Iron County. Its address places the facility directly along Highway 271 and provides a clear location for evaluating manufacturing or related industrial operations.
The property is located at 285 E Highway 271 in Parowan, Utah, within Iron County. Its address places the facility directly along Highway 271 and provides a clear location for evaluating manufacturing or related industrial operations.
Key Highlights
- 12,000‑square‑foot manufacturing building
- 1.48‑acre property
- Built in 1982
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
$92,432
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
7.77%
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%
$1,848,640
$1.8M
Cap Rate 7%
$1,320,457
$1.3M
Cap Rate 9%
$1,027,022
$1.0M
Market Conditions
NOI Build-Up for 12,000 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
$133.9K $11.16/SF
− Vacancy
−$1.9K −$0.16/SF
EGI
$132.0K $11.00/SF
− OpEx
−$39.6K −$3.30/SF
NOI
$92.4K $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%
$1,848,640
Cap Rate 7%
$1,320,457
Cap Rate 9%
$1,027,022
Alternative Uses
Best Use
Industrial
$1.32M
$1.16M – $1.54M
NOI $92,432 @ 7.0% cap · market cap 7.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.45M
$2.14M – $2.86M
NOI $171,554 @ 7.0% cap · market cap 14.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
52
Businesses Nearby
Explore this area
Business Placement
Demographics for 84761, UT
3,210
Population
1,499
Households
2.1
Avg Household Size
42
Median Age
19%
College-Educated
91%
High-School Grad
127.1 sq mi
ZIP Area
25
Density / Sq Mi
$50,582
Median Household Income
$29,025
Median Earnings
$962
Median Rent
$312,600
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?
Manufacturing property - Established industrial facility offered for sale or lease.
Where is this manufacturing property located?
The property is located at 285 E Highway 271 Parowan, UT.
What is the asking price?
The asking price for this property is $1,190,000.
What are key features of this property?
This property features: 12,000‑square‑foot manufacturing building; 1.48‑acre property; Built in 1982
