Dual-Suite Flex
For Sale
$2,900,000
3709 S 5650 W, Cedar City, UT 84720
COMMERCIAL - Cedar City, UT
Property Size15,000 SF
Lot Size4.96 Acres
Price / SF$193.33
Days on Market301
Property Features for 3709 S 5650 W
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Industrial, Commercial
Directions
From I-15 get off Hamilton Fort Exit and head west on 3850 w. Turn right onto 3600 s. Turn right. Property dead ends into cul de sac.
Subdivision
Outside Area
Standard status
Active
APN
e-0259-0033-0000
Size
15,000 SF
Lot size
4.96 Acres
Building Details
Year built
2025
Floors in Building
1
Listing Agency:
ERA Realty Center
(435) 586-2777
Listed By:
Kole Halladay
(435) 704-1640
Added: Oct 13, 2025
Changed: Aug 4
Last Checked: Aug 9 at 2:06PM
MLS# 25-265957
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 15,000-square-foot flex property is arranged as two 7,500-square-foot sides beneath one roof. Each side includes 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. The building also provides 12 bay doors standing 16 feet tall and an 8-inch concrete floor reinforced with rebar and fiber. Built in 2025, the climate-controlled facility sits on 4.96 acres and is scheduled to be ready in November 2025.
The site offers freeway visibility and is positioned near a Sinclair gas station. Hamilton Fort exit access connects with 3850 W, identified as Iron County’s belt route, with direct travel toward Hwy 56 and the Port-15 Industrial project.
The site offers freeway visibility and is positioned near a Sinclair gas station. Hamilton Fort exit access connects with 3850 W, identified as Iron County’s belt route, with direct travel toward Hwy 56 and the Port-15 Industrial project.
Key Highlights
- 15,000 square feet of climate‑controlled flex space on 4.96 acres
- Two 7,500 sq ft sides under one roof
- Each side includes just under 900 sq ft of office space, bathrooms, and storage
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
$153,090
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
5.28%
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%
$3,061,800
$3.1M
Cap Rate 7%
$2,187,000
$2.2M
Cap Rate 9%
$1,701,000
$1.7M
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
$216.0K $14.40/SF
− Vacancy
−$11.9K −$0.79/SF
EGI
$204.1K $13.61/SF
− OpEx
−$51.0K −$3.40/SF
NOI
$153.1K $10.21/SF
Area
Iron County, UT
Vacancy
5.50%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
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%
$3,061,800
Cap Rate 7%
$2,187,000
Cap Rate 9%
$1,701,000
Alternative Uses
Best Use
Office B
$2.19M
$1.91M – $2.55M
NOI $153,090 @ 7.0% cap · market cap 5.28%
Second Best
Warehouse
$2.00M
$1.75M – $2.34M
NOI $140,298 @ 7.0% cap · market cap 4.84%
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
6
Businesses Nearby
Well-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 Office 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 - Climate-controlled commercial space offers separate work areas, office support, storage, mezzanines, and tall bay access.
Where is this flex space located?
The property is located at 3709 S 5650 W 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: 15,000 square feet of climate‑controlled flex space on 4.96 acres; Two 7,500 sq ft sides under one roof; Each side includes just under 900 sq ft of office space, bathrooms, and storage
