Climate-Controlled Warehouse
For Sale
$2,900,000
3709 Cedar Knls, Cedar City, UT 84720
Divisible industrial warehouse with office, storage, mezzanine, and bathroom areas on each side.
Property Size15,000 SF
Lot Size4.96 Acres
Price / SF$193.33
Days on Market313
Property Features for 3709 Cedar Knls
General Information
Standard status
Active
Size
15,000 SF
Lot size
4.96 Acres
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Buildings
1
Building Size
15,000 SF
Listing Agency:
ERA Realty Center
(435) 704-1640
Listed By:
Kole Halladay
(435) 704-1640
Source:
Exprealty
Added: Oct 13, 2025
Changed: Aug 20
Last Checked: Aug 21 at 11:05AM
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 warehouse property includes a 15,000-square-foot climate-controlled building on 4.96 acres. The structure is configured as two separate 7,500-square-foot sides, each with just under 900 square feet of office space, bathrooms, storage, and a second-level mezzanine adding close to 800 square feet of office or storage area. Reinforced 8-inch concrete floors provide a substantial interior foundation, while 12-16-foot-tall bay doors support warehouse operations.
The property is located off the Hamilton Fort exit in Cedar City, with freeway visibility and proximity to a Sinclair gas station. Access to 3850 W connects directly to Hwy 56 and the Port-15 Industrial project. Completion is scheduled for November 2025.
The property is located off the Hamilton Fort exit in Cedar City, with freeway visibility and proximity to a Sinclair gas station. Access to 3850 W connects directly to Hwy 56 and the Port-15 Industrial project. Completion is scheduled for November 2025.
Key Highlights
- 4.96‑acre commercial warehouse property in Cedar City
- 15,000‑square‑foot climate‑controlled building
- Two 7,500‑square‑foot warehouse sides under one roof
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
$140,298
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
4.84%
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%
$2,805,960
$2.8M
Cap Rate 7%
$2,004,257
$2.0M
Cap Rate 9%
$1,558,867
$1.6M
Market Conditions
NOI Build-Up for 15,000 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
$167.4K $11.16/SF
− Vacancy
−$2.3K −$0.16/SF
EGI
$165.1K $11.00/SF
− OpEx
−$24.8K −$1.65/SF
NOI
$140.3K $9.35/SF
Area
Iron County, UT
Vacancy
1.40%
Lease Rate
$11.16 /SF/Yr
Expense Ratio
15.00%
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%
$2,805,960
Cap Rate 7%
$2,004,257
Cap Rate 9%
$1,558,867
Alternative Uses
Best Use
Warehouse
$2.00M
$1.75M – $2.34M
NOI $140,298 @ 7.0% cap · market cap 4.84%
Second Best
Industrial
$1.65M
$1.44M – $1.93M
NOI $115,539 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$3.06M
$2.68M – $3.57M
NOI $214,442 @ 7.0% cap · market cap 7.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
589
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 84720, UT
23,607
Population
8,984
Households
2.6
Avg Household Size
28
Median Age
35%
College-Educated
95%
High-School Grad
341.5 sq mi
ZIP Area
69
Density / Sq Mi
$63,742
Median Household Income
$29,979
Median Earnings
$932
Median Rent
$357,400
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?
Warehouse - Divisible industrial warehouse with office, storage, mezzanine, and bathroom areas on each side.
Where is this warehouse located?
The property is located at 3709 Cedar Knls Cedar City, UT.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 4.96‑acre commercial warehouse property in Cedar City; 15,000‑square‑foot climate‑controlled building; Two 7,500‑square‑foot warehouse sides under one roof
