Flex Industrial Condo with Overhead
For Sale
Contact for pricing
570-578 N 1450 W, Cedar City, UT 84721
Flex industrial condo with loft or mezzanine, 3-phase power, and easy access just minutes from I-15 exit 59.
Property Size3,000 SF
Price / SF$198.33
Days on Market622
Property Features for 570-578 N 1450 W
General Information
Standard status
Active
Size
3,000 SF
Property subtype
INDUSTRIAL
Additional Details
Highway Access
Yes
Three-Phase Power
Yes
Building Details
Construction
block
Listing Agency:
NAI Excel
(435) 627-5752
Listed By:
Curren Christensen · License #6431250-SA00
Source:
Moodyscre
Added: Nov 25, 2024
Changed: Jul 30
Last Checked: Aug 9 at 8:12AM
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.
This flex industrial condo offers a concrete block construction with a built-out interior that includes a loft or mezzanine. At approximately 3,000 square feet, the space is designed to support flexible industrial uses while also offering a usable elevated area for additional storage or work space. The property includes 3-phase power and a 14’ overhead door, supporting a range of loading and operational needs.
The site is located just minutes from I-15 exit 59, providing straightforward regional access for tenant and customer traffic. The seller would consider leasing back, which may be relevant for an owner-occupant plan or a transition timeline.
For a closer look at the upgrades and layout, schedule a tour and review the build-out details in person.
The site is located just minutes from I-15 exit 59, providing straightforward regional access for tenant and customer traffic. The seller would consider leasing back, which may be relevant for an owner-occupant plan or a transition timeline.
For a closer look at the upgrades and layout, schedule a tour and review the build-out details in person.
Key Highlights
- 3‑phase power for flexible industrial operations
- 14’ overhead door for loading and vehicle access
- Loft or mezzanine build‑out inside the condo
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
$23,108
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
3.88%
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%
$462,160
$462.2K
Cap Rate 7%
$330,114
$330.1K
Cap Rate 9%
$256,756
$256.8K
Market Conditions
NOI Build-Up for 3,000 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
$33.5K $11.16/SF
− Vacancy
−$469 −$0.16/SF
EGI
$33.0K $11.00/SF
− OpEx
−$9.9K −$3.30/SF
NOI
$23.1K $7.70/SF
Area
Iron County, UT
Vacancy
1.40%
Lease Rate
$11.16 /SF/Yr
Expense Ratio
30.00%
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%
$462,160
Cap Rate 7%
$330,114
Cap Rate 9%
$256,756
Alternative Uses
Best Use
Industrial
$330.1K
$288.9K – $385.1K
NOI $23,108 @ 7.0% cap · market cap 3.88%
Second Best
Flex RnD
$306.5K
$268.2K – $357.6K
NOI $21,457 @ 7.0% cap · market cap 3.61%
Theoretical Best
Office A
$612.7K
$536.1K – $714.8K
NOI $42,888 @ 7.0% cap · market cap 7.21%
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
474
Businesses Nearby
Under-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
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Frequently Asked Questions
What type of property is this?
Flex space - Flex industrial condo with loft or mezzanine, 3-phase power, and easy access just minutes from I-15 exit 59.
Where is this flex space located?
The property is located at 570-578 N 1450 W Cedar City, UT.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 3‑phase power for flexible industrial operations; 14’ overhead door for loading and vehicle access; Loft or mezzanine build‑out inside the condo
