Warehouse and Retail
For Sale
Contact for pricing
435 Aviation Way, Cedar City, UT 84721
Two buildings totaling 15,000 sf with multiple roll-up doors and 10' clear height, plus signalized corner access.
Property Size15,000 SF
Price / SF$250
Days on Market131
Property Features for 435 Aviation Way
General Information
Standard status
Active
Size
15,000 SF
Property subtype
Retail, Industrial
Zoning
I & M-1
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
10 ft
Heavy Power
Yes
Amenities
large double-sided pole sign
Building Details
Year Built
2018
Listing Agency:
NAI Excel
Listed By:
Meeja McAllister · License #UT 6081089-SA00
(435) 627-5710
Source:
Crexi
Added: May 1
Changed: Aug 23
Last Checked: Sep 7 at 11:03AM
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 NAI Excel
Investment Insights
Based on property information with market context.
The property consists of two separate buildings designed for flexible commercial use. Building 1 includes 5,000 sf and is served by one water meter. Building 2 offers 10,000 sf with 8' roll-up doors and 10' clear height, with single-phase power. Building 1 is equipped with 10' clear height and 8' door access, and it includes three-phase power.
A large double-sided pole sign provides visibility in multiple directions. The site is described as a signalized corner off Aviation Way and Highway 56, supporting straightforward customer and service access.
Built in 2018, the configuration supports tenants that need warehouse-style clear height and multiple door openings, with the overall parcel offering two distinct building options under one ownership.
A large double-sided pole sign provides visibility in multiple directions. The site is described as a signalized corner off Aviation Way and Highway 56, supporting straightforward customer and service access.
Built in 2018, the configuration supports tenants that need warehouse-style clear height and multiple door openings, with the overall parcel offering two distinct building options under one ownership.
Key Highlights
- Two buildings totaling 15,000 SF built in 2018
- 5,000 SF building features 8' roll‑up doors and 10' clear height
- 10,000 SF building features an 8' roll‑up door and 10' clear height
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
3.74%
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 3.74%
Second Best
Retail
$1.94M
$1.69M – $2.26M
NOI $135,551 @ 7.0% cap · market cap 3.61%
Theoretical Best
Office A
$3.06M
$2.68M – $3.57M
NOI $214,442 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
10 ft
Clear height
Yes
Heavy power
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
107
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.
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Frequently Asked Questions
What type of property is this?
Warehouse - Two buildings totaling 15,000 sf with multiple roll-up doors and 10' clear height, plus signalized corner access.
Where is this warehouse located?
The property is located at 435 Aviation Way Cedar City, UT.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: Two buildings totaling 15,000 SF built in 2018; 5,000 SF building features 8' roll‑up doors and 10' clear height; 10,000 SF building features an 8' roll‑up door and 10' clear height
