Townhome-Style Apartment
For Sale
$1,415,000
535 W 2530 N #23-28, Cedar City, UT 84720
Recently completed multifamily property with private two-car covered parking and efficiently arranged residential interiors.
Property Size7,212 SF
Price / SF$196.20
Days on Market48
Property Features for 535 W 2530 N #23-28
General Information
Standard status
Active
Size
7,212 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Parking per Unit
2
Building Details
Year Built
2025
Listing Agency:
Element Real Estate Brokers LLC
(435) 200-1991
Listed By:
Nathan Shaffer
Source:
Liveutah
Added: Jul 16
Changed: Aug 30
Last Checked: Aug 31 at 7:15PM
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 Element Real Estate Brokers LLC
Investment Insights
Based on property information with market context.
Completed in 2025, this multifamily property is configured as townhome-style residences with open living areas and practical two-level layouts. Interior features include kitchens with painted or stained cabinetry, quartz countertops, corner pantries, great rooms, and main-level powder rooms. Upper floors provide three bedrooms, two bathrooms, and dedicated laundry areas, while primary suites include private bathrooms and walk-in closets. Each residence also has two covered carport spaces.
The property is located at 535 W 2530 N #23-28 in Cedar City, Utah, within the Cedar Breaks community. The site offers access to I-15, supporting regional connectivity. The property contains 7,212 square feet and was constructed by Desert Sage Home Builders.
The property is located at 535 W 2530 N #23-28 in Cedar City, Utah, within the Cedar Breaks community. The site offers access to I-15, supporting regional connectivity. The property contains 7,212 square feet and was constructed by Desert Sage Home Builders.
Key Highlights
- 7,212‑square‑foot multifamily property completed in 2025
- Townhome‑style layouts with three bedrooms and two bathrooms upstairs
- Quartz kitchen countertops, corner pantries, and open great rooms
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
$59,528
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
4.21%
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%
$1,190,560
$1.2M
Cap Rate 7%
$850,400
$850.4K
Cap Rate 9%
$661,422
$661.4K
Market Conditions
NOI Build-Up for 7,212 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
$112.5K $15.60/SF
− Vacancy
−$4.3K −$0.59/SF
EGI
$108.2K $15.01/SF
− OpEx
−$48.7K −$6.75/SF
NOI
$59.5K $8.25/SF
Area
Iron County, UT
Vacancy
3.80%
Lease Rate
$15.60 /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%
$1,190,560
Cap Rate 7%
$850,400
Cap Rate 9%
$661,422
Alternative Uses
Best Use
Apartment 5plus
$850.4K
$744.1K – $992.1K
NOI $59,528 @ 7.0% cap · market cap 4.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,104 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
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 Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Recently completed multifamily property with private two-car covered parking and efficiently arranged residential interiors.
Where is this apartment building located?
The property is located at 535 W 2530 N #23-28 Cedar City, UT.
What is the asking price?
The asking price for this property is $1,415,000.
What are key features of this property?
This property features: 7,212‑square‑foot multifamily property completed in 2025; Townhome‑style layouts with three bedrooms and two bathrooms upstairs; Quartz kitchen countertops, corner pantries, and open great rooms
