Townhome-Style Apartment
For Sale
$1,395,000
535 W 2530 N #41-46, Cedar City, UT 84721
Recently built multifamily property with open layouts, private primary suites, and covered carport parking.
Property Size7,104 SF
Price / SF$196.37
Days on Market27
Property Features for 535 W 2530 N #41-46
General Information
Standard status
Active
Size
7,104 SF
Total Parking Spaces
12
Property subtype
Multi-Family
Units
Unit Mix
6 x 3BR/2BA
Multifamily Units
6
Parking per Unit
2
Additional Details
Highway Access
Yes
Building Details
Year Built
2025
Construction
townhomes
Listing Agency:
Element Real Estate Brokers LLC
(435) 200-1991
Listed By:
Nathan Shaffer
Source:
Buysalty
Added: Aug 6
Changed: Aug 28
Last Checked: Aug 30 at 8:58PM
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 7,104-square-foot apartment property was built in 2025 and features a townhome-style layout. Residences offer open living areas, kitchens with painted or stained cabinetry, quartz countertops, corner pantries, and main-level powder rooms. The upper level includes three bedrooms, two bathrooms, a laundry room, and a primary suite with a private bathroom and walk-in closet. Covered carport parking is also provided.
The property is located in Cedar City’s Cedar Breaks community at 535 W 2530 N #41-46, with access to I-15 nearby. Each unit is identified by its own parcel number, supporting separate parcel identification within the multifamily asset.
The property is located in Cedar City’s Cedar Breaks community at 535 W 2530 N #41-46, with access to I-15 nearby. Each unit is identified by its own parcel number, supporting separate parcel identification within the multifamily asset.
Key Highlights
- 7,104‑square‑foot apartment property built in 2025
- Townhome‑style layouts with three bedrooms and two bathrooms upstairs
- Quartz kitchen countertops, cabinetry, corner pantry, and open great room
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
$58,636
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
4.20%
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%
$1,172,720
$1.2M
Cap Rate 7%
$837,657
$837.7K
Cap Rate 9%
$651,511
$651.5K
Market Conditions
NOI Build-Up for 7,104 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
$110.8K $15.60/SF
− Vacancy
−$4.2K −$0.59/SF
EGI
$106.6K $15.01/SF
− OpEx
−$48.0K −$6.75/SF
NOI
$58.6K $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%
$1,172,720
Cap Rate 7%
$837,657
Cap Rate 9%
$651,511
Alternative Uses
Best Use
Apartment 5plus
$837.7K
$733.0K – $977.3K
NOI $58,636 @ 7.0% cap · market cap 4.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,560 @ 7.0% cap · market cap 7.28%
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 - Recently built multifamily property with open layouts, private primary suites, and covered carport parking.
Where is this apartment building located?
The property is located at 535 W 2530 N #41-46 Cedar City, UT.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: 7,104‑square‑foot apartment property built in 2025; Townhome‑style layouts with three bedrooms and two bathrooms upstairs; Quartz kitchen countertops, cabinetry, corner pantry, and open great room
