Building Details

Building Size 6,739 SF

Year Built 2026

Listing Agency: NAI Excel

Listed By: Wes Davis · License #5502820-SA00 Show Phone

Source: Naiglobal

Added: Aug 19 Changed: Oct 1 Last Checked: Oct 5 at 4:27PM

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Investment Insights

Based on property information with market context.

This triplex property was built in 2026 and is fully leased under three one-year leases. The asset is located at 366 South Fitness Way in Ivins, Utah, within ZIP code 84738.

Key Highlights

• Triplex property with 3 one‑year leases
• Fully leased
• Built in 2026

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$81,090

Cap Rate

6.63%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,621,800 $1.6M

Cap Rate 7%

$1,158,429 $1.2M

Cap Rate 9%

$901,000 $901.0K

Market Conditions

NOI Build-Up for 6,739 SF

Gross rent

$121.3K $18.00/SF

− Vacancy

−$5.5K −$0.81/SF

EGI

$115.8K $17.19/SF

− OpEx

−$34.8K −$5.16/SF

NOI

$81.1K $12.03/SF

Area

Washington County, UT

Vacancy

4.50%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,621,800

Cap Rate 7%

$1,158,429

Cap Rate 9%

$901,000

Alternative Uses

Best Use

Multifamily LT 5

$1.16M

$1.01M – $1.35M (±1% cap)

NOI $81,090 @ 7.0% cap · market cap 6.63%

Second Best

Apartment 5plus

$1.07M

$936.0K – $1.25M (±1% cap)

NOI $74,878 @ 7.0% cap · market cap 6.12%

Theoretical Best

Specialty Retail

$1.86M

$1.62M – $2.17M (±1% cap)

NOI $129,902 @ 7.0% cap · market cap 10.62%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Real Estate Agency Restaurant Building Supply Law Firm Big Box & Wholesale Store Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

100%

Occupancy

Location Intelligence

Trade Area within ½ mile

37

Businesses Nearby

Explore this area Business Placement

Demographics for 84738, UT

9,064

Population

4,469

Households

2

Avg Household Size

48

Median Age

45%

College-Educated

96%

High-School Grad

47.4 sq mi

ZIP Area

191

Density / Sq Mi

$72,075

Median Household Income

$35,789

Median Earnings

$1,717

Median Rent

$540,900

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this triplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Triplex - Triplex property with all units leased under one-year lease terms.

Where is this triplex located?

The property is located at 366 South Fitness Way Ivins, UT.

What is the asking price?

The asking price for this property is $1,223,236.

What are key features of this property?

This property features: Triplex property with 3 one‑year leases; Fully leased; Built in 2026