Six-Unit Apartment Building with
New
For Sale
$1,485,000
535 W 2530 N Unit 29-34, Cedar City, UT 84721
Townhome-style units offer open living areas, private suites, upstairs laundry, and dedicated covered parking.
Property Size7,212 SF
Price / SF$205.91
Days on Market7
Property Features for 535 W 2530 N Unit 29-34
General Information
Standard status
Active
Size
7,212 SF
Property subtype
> 4 Units
Units
Multifamily Units
6
Parking per Unit
2
Additional Details
HOA Fee
$40
Highway Access
Yes
Amenities
laundry room
Building Details
Building Size
7,212 SF
Year Built
2026
Listing Agency:
Element Real Estate Brokers LLC
(435) 200-1991
Listed By:
Nathan Shaffer
(435) 200-1991
Source:
Liftrealty
Added: Aug 15
Changed: Aug 18
Last Checked: Aug 20 at 4:56AM
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.
This 6-unit apartment property is configured as townhome-style residences, with 7,212 square feet across the community. Each unit features an open main-level plan with a kitchen, great room, corner pantry, and powder room. The upper level includes three bedrooms, two bathrooms, laundry, and a primary suite with a private bath and walk-in closet. Kitchens are finished with painted or stained cabinetry and quartz countertops. Each residence also includes two covered carport spaces.
Located at 535 W 2530 N Unit 29-34 in Cedar City, the property offers access to I-15 and was built in 2026. Each of the six units has its own Parcel #, providing separate parcel identification within the property.
Located at 535 W 2530 N Unit 29-34 in Cedar City, the property offers access to I-15 and was built in 2026. Each of the six units has its own Parcel #, providing separate parcel identification within the property.
Key Highlights
- 6‑unit apartment property with 7,212 square feet
- Each unit has its own Parcel #
- Townhome‑style layout with three bedrooms and two bathrooms upstairs
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
4.01%
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 4.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,104 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
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 Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Townhome-style units offer open living areas, private suites, upstairs laundry, and dedicated covered parking.
Where is this apartment building located?
The property is located at 535 W 2530 N Unit 29-34 Cedar City, UT.
What is the asking price?
The asking price for this property is $1,485,000.
What are key features of this property?
This property features: 6‑unit apartment property with 7,212 square feet; Each unit has its own Parcel #; Townhome‑style layout with three bedrooms and two bathrooms upstairs
