Riverside Drive Medical Office
For Sale
Contact for pricing
Pending
368 E Riverside Dr 368, St George, UT 84790
Fully leased medical/surgical office building for sale on Riverside Drive.
Property Size10,448 SF
Days on Market384
Property Features for 368 E Riverside Dr 368
General Information
Standard status
Pending
Size
10,448 SF
Class
A
Property subtype
Special Purpose
Occupancy
100%
Lease Type
NNN
Building Details
Year Built
2003
Tenancy
Multi
Listing Agency:
Coldwell Banker Premier Realty Saint George
(435) 628-6700
Listed By:
Shayne Barney · License #UT-5469278-PB00
Source:
Crexi
Added: Aug 5, 2025
Changed: Aug 8
Last Checked: Jul 24 at 11:35AM
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 Coldwell Banker Premier Realty Saint George
Investment Insights
Based on property information with market context.
This fully leased medical and surgical office building is available for sale. The property is located on Riverside Drive, two blocks from the I-15 interchange, providing convenient access to River Road and Bluff Street. The building is a certified surgical center and doctor's office. The property has a size of 10448 square feet and is in excellent condition, presenting an investment opportunity.
Key Highlights
- Fully leased medical/surgical office building provides immediate income.
- Certified surgical center indicates specialized infrastructure.
- Excellent condition minimizes immediate capital expenditures.
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
$112,024
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
3.11%
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%
$2,240,480
$2.2M
Cap Rate 7%
$1,600,343
$1.6M
Cap Rate 9%
$1,244,711
$1.2M
Market Conditions
NOI Build-Up for 10,448 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
$193.1K $18.48/SF
− Vacancy
−$6.4K −$0.61/SF
EGI
$186.7K $17.87/SF
− OpEx
−$74.7K −$7.15/SF
NOI
$112.0K $10.72/SF
Area
Washington County, UT
Vacancy
3.30%
Lease Rate
$18.48 /SF/Yr
Expense Ratio
40.00%
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%
$2,240,480
Cap Rate 7%
$1,600,343
Cap Rate 9%
$1,244,711
Alternative Uses
Best Use
Healthcare Medical
$1.60M
$1.40M – $1.87M
NOI $112,024 @ 7.0% cap · market cap 3.11%
Second Best
Office B
$1.60M
$1.40M – $1.86M
NOI $111,843 @ 7.0% cap · market cap 3.11%
Theoretical Best
Specialty Retail
$2.88M
$2.52M – $3.36M
NOI $201,397 @ 7.0% cap · market cap 5.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,071
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 84790, UT
52,982
Population
20,956
Households
2.5
Avg Household Size
37
Median Age
38%
College-Educated
96%
High-School Grad
48.3 sq mi
ZIP Area
1,097
Density / Sq Mi
$85,720
Median Household Income
$39,108
Median Earnings
$1,598
Median Rent
$500,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully leased medical/surgical office building for sale on Riverside Drive.
Where is this medical office space located?
The property is located at 368 E Riverside Dr 368 St George, UT.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: Fully leased medical/surgical office building provides immediate income.; Certified surgical center indicates specialized infrastructure.; Excellent condition minimizes immediate capital expenditures.
