Mixed-Use Property with Metal
For Sale
$1,250,000
385 N State St, La Verkin, UT 84745
Commercial zoning combines a residence, detached garages, and substantial workspace on State Street.
Property Size5,693 SF
Price / SF$219.57
Days on Market60
Property Features for 385 N State St
General Information
Standard status
Active
Size
5,693 SF
Property subtype
Multi-Family
Building Details
Year Built
1971
Listing Agency:
THINK REALTY LLC
(435) 674-1442
Listed By:
LUKE E GODFREY · License #5497333-SA
Source:
Utahluxuryhometeam
Added: Jul 3
Changed: Aug 29
Last Checked: Aug 30 at 8:19PM
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 THINK REALTY LLC
Investment Insights
Based on property information with market context.
This mixed-use property combines a main residence with detached garages and an oversized metal shop equipped with a large overhead door. The residence includes spacious living areas, large picture windows, and generous bedrooms. A fenced backyard adds mature shade trees, garden space, and a patio area.
The property is located on North State Street in La Verkin, with shopping, restaurants, schools, and major transportation routes nearby. Extensive off-street parking supports the site's residential and workspace components, while the shop provides room for vehicles, equipment, inventory, storage, or workshop activities. Commercial zoning is in place; permitted uses and other property information should be verified by the buyer.
The property is located on North State Street in La Verkin, with shopping, restaurants, schools, and major transportation routes nearby. Extensive off-street parking supports the site's residential and workspace components, while the shop provides room for vehicles, equipment, inventory, storage, or workshop activities. Commercial zoning is in place; permitted uses and other property information should be verified by the buyer.
Key Highlights
- Mixed‑use property with Commercial zoning
- Main residence with spacious living areas, large picture windows, and generous bedrooms
- Oversized detached metal shop with a large overhead door
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
$72,244
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
5.78%
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%
$1,444,880
$1.4M
Cap Rate 7%
$1,032,057
$1.0M
Cap Rate 9%
$802,711
$802.7K
Market Conditions
NOI Build-Up for 5,693 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
$123.0K $21.60/SF
− Vacancy
−$7.4K −$1.30/SF
EGI
$115.6K $20.30/SF
− OpEx
−$43.3K −$7.61/SF
NOI
$72.2K $12.69/SF
Area
Washington County, UT
Vacancy
6.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,444,880
Cap Rate 7%
$1,032,057
Cap Rate 9%
$802,711
Alternative Uses
Best Use
Mixed Use
$1.03M
$903.1K – $1.20M
NOI $72,244 @ 7.0% cap · market cap 5.78%
Second Best
Office B
$870.6K
$761.8K – $1.02M
NOI $60,942 @ 7.0% cap · market cap 4.88%
Theoretical Best
Specialty Retail
$1.57M
$1.37M – $1.83M
NOI $109,739 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
186
Businesses Nearby
Explore this area
Business Placement
Demographics for 84745, UT
4,347
Population
1,507
Households
2.9
Avg Household Size
34
Median Age
22%
College-Educated
96%
High-School Grad
5.0 sq mi
ZIP Area
869
Density / Sq Mi
$63,061
Median Household Income
$31,171
Median Earnings
$1,316
Median Rent
$366,500
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?
Mixed-use property - Commercial zoning combines a residence, detached garages, and substantial workspace on State Street.
Where is this mixed-use property located?
The property is located at 385 N State St La Verkin, UT.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Mixed‑use property with Commercial zoning; Main residence with spacious living areas, large picture windows, and generous bedrooms; Oversized detached metal shop with a large overhead door
