Cedar City Commercial
For Sale
$2,900,000
3709 N Iron Springs Rd, Cedar City, UT 84721
4.96 acre commercial lot with 15,000 sq ft building.
Property Size15,000 SF
Lot Size4.96 Acres
Price / SF$193.33
Days on Market324
Property Features for 3709 N Iron Springs Rd
General Information
Standard status
Active
Size
15,000 SF
Lot size
4.96 Acres
Listing Agency:
ERA Realty Center Inc
(435) 704-1640
Listed By:
Kole E Halladay
(435) 704-1640
Source:
Exprealty
Added: Oct 13, 2025
Changed: Aug 20
Last Checked: Aug 31 at 8:02PM
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 Inc
Investment Insights
Based on property information with market context.
This 4.96-acre commercial lot features a 15,000 sq ft climate-controlled building. The property is located off the Hamilton Fort exit in Cedar City, offering freeway visibility and proximity to a Sinclair gas station. Situated along 3850 W, also known as Iron County's belt route, the location provides direct access to Hwy 56 and the Port-15 Industrial project. The building is designed as a duplex, with two 7,500 sq ft sides under one roof, presenting a leasing opportunity. Each side includes just under 900 sq ft of office space, bathrooms, and storage, along with a second-level mezzanine adding close to 800 sq ft of additional office or storage space. The building features 8-inch concrete floors reinforced with rebar and fiber, and 12 to 16-foot tall bay doors. The property is projected to be ready in November 2025. The seller is open to leasing either side of the building, each comprising 7,500 square feet, offering flexibility for potential tenants.
Key Highlights
- High‑traffic 4.96‑acre commercial lot with freeway visibility
- 15,000 sq ft climate‑controlled building** suitable for various businesses
- Duplex setup with two 7,500 sq ft sides, offering leasing potential
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
$115,539
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
3.98%
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%
$2,310,780
$2.3M
Cap Rate 7%
$1,650,557
$1.7M
Cap Rate 9%
$1,283,767
$1.3M
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
−$49.5K −$3.30/SF
NOI
$115.5K $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%
$2,310,780
Cap Rate 7%
$1,650,557
Cap Rate 9%
$1,283,767
Alternative Uses
Best Use
Industrial
$1.65M
$1.44M – $1.93M
NOI $115,539 @ 7.0% cap · market cap 3.98%
Second Best
Flex RnD
$1.53M
$1.34M – $1.79M
NOI $107,287 @ 7.0% cap · market cap 3.70%
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - 4.96 acre commercial lot with 15,000 sq ft building.
Where is this flex space located?
The property is located at 3709 N Iron Springs Rd 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: High‑traffic 4.96‑acre commercial lot with freeway visibility; 15,000 sq ft climate‑controlled building** suitable for various businesses; Duplex setup with two 7,500 sq ft sides, offering leasing potential
