Luxury Living in Zion
For Sale
$1,690,000
5298 S Surf Rider Ct, Washington, UT 84780
LAND - Washington, UT
Property Size8,276 SF
Lot Size0.19 Acres
Price / SF$204.20
Days on Market136
Property Features for 5298 S Surf Rider Ct
General Information
Property type
Land
Property subtype
Other
Zoning
Residential
Zoning description
Vacation Rental, Residential
Lot features
C C& R's Available, Curb & Gutter, Graded, Sidewalk, View Water
Elementary school
South Mesa Elementary
Middle school
Crimson Cliffs Middle
High school
Crimson Cliffs High
Directions
River Road to George Washington Blvd. Head south on Washington Fields Road. Community is located on the west side of the road just prior to the turn towards the Southern Parkway.
Subdivision
Greater St. George
Standard status
Active
APN
W-ZSA-44
Size
8,276 SF
Lot size
0.19 Acres
Taxes and HOA fees
HOA Fee
$500 Monthly
Listing Agency:
RED ROCK REAL ESTATE
(435) 275-2775
Listed By:
Blair R Frei · License #7625478-SA00
(435) 680-2636
Added: Mar 27
Changed: Jun 29
Last Checked: Aug 9 at 4:06PM
MLS# 26-270688
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.
Located in Zion Shores, Southern Utah, this residential property is part of a new subdivision centered around a 9-acre crystal-clear lagoon. The community features surf technology that brings ocean-style waves to the desert, offering opportunities for surfing, paddleboarding, and a beach-like atmosphere. The location provides views and a resort-style ambiance near hiking, golf, dining, and retail. Custom homes are built by Immaculate Homes, known for craftsmanship, design, and luxury finishes. Residences are designed to complement the surroundings, offering modern elegance, open-concept living, and amenities. The property, situated on a 0.19-acre lot, spans 8276 square feet. It is located at 5298 S Surf Rider Ct, Washington, UT 84780. The property is intended for use as a full-time residence, second home, or investment opportunity.
Key Highlights
- 9‑acre crystal‑clear lagoon with state‑of‑the‑art surf technology offering ocean‑style waves.
- Custom homes built by Immaculate Homes, known for superior craftsmanship and luxury finishes.
- Resort‑style ambiance with a beach‑like atmosphere.
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
$91,955
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
5.44%
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%
$1,839,100
$1.8M
Cap Rate 7%
$1,313,643
$1.3M
Cap Rate 9%
$1,021,722
$1.0M
Market Conditions
NOI Build-Up for 8,276 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
$173.8K $21.00/SF
− Vacancy
−$6.6K −$0.80/SF
EGI
$167.2K $20.20/SF
− OpEx
−$75.2K −$9.09/SF
NOI
$92.0K $11.11/SF
Area
Washington County, UT
Vacancy
3.80%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,839,100
Cap Rate 7%
$1,313,643
Cap Rate 9%
$1,021,722
Alternative Uses
Best Use
Apartment 5plus
$1.31M
$1.15M – $1.53M
NOI $91,955 @ 7.0% cap · market cap 5.44%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.28M
$1.99M – $2.66M
NOI $159,529 @ 7.0% cap · market cap 9.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
9
Businesses Nearby
Explore this area
Business Placement
Demographics for 84780, UT
28,025
Population
12,922
Households
2.2
Avg Household Size
36
Median Age
35%
College-Educated
94%
High-School Grad
61.8 sq mi
ZIP Area
453
Density / Sq Mi
$94,103
Median Household Income
$42,098
Median Earnings
$1,581
Median Rent
$511,700
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Single family property - Luxury homes with ocean-style waves in the desert.
Where is this single family property located?
The property is located at 5298 S Surf Rider Ct Washington, UT.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: 9‑acre crystal‑clear lagoon with state‑of‑the‑art surf technology offering ocean‑style waves.; Custom homes built by Immaculate Homes, known for superior craftsmanship and luxury finishes.; Resort‑style ambiance with a beach‑like atmosphere.
