Commercial-Zoned Duplex
For Sale
$479,900
577-579 East Nichols Canyon Road, Cedar City, UT 84721
Two residential units with attached garages, established month-to-month occupancy, and updated flooring in key areas.
Property Size2,234 SF
Lot Size0.29 Acres
Price / SF$214.82
Days on Market62
Property Features for 577-579 East Nichols Canyon Road
General Information
Standard status
Active
Size
2,234 SF
Total Parking Spaces
2
Lot size
0.29 Acres
Property subtype
Residential Income
Zoning
Commercial
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$1,758
Amenities
xeriscape landscaping
fenced backyard
Central Air
Yes
No
2
1117.0
Building Details
Year Built
2005
Buildings
1
Tenancy
Multi
Listing Agency:
ERA Realty Center
(435) 559-1260
Listed By:
Jenny L Vossler · License #5464894-SA
(435) 559-1260
Source:
Compass
Added: Jul 2
Changed: Aug 31
Last Checked: Aug 31 at 12:17AM
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 ERA Realty Center
Investment Insights
Based on property information with market context.
This duplex contains two separate residences, each with three bedrooms, two bathrooms, 1,117 SF, and a one-car garage. Built in 2005, the property totals 2,234 SF on a .29-acre lot and carries Central Commercial zoning. Both units are occupied by month-to-month tenants, with no vacancy reported in more than three years.
Property improvements include vinyl plank flooring in the kitchens, bathrooms, and laundry areas, along with a refurbished roof. Xeriscape landscaping and a fenced backyard add to the exterior setup. The address is near parks, schools, shopping, and places of worship. An adjacent duplex with an RV garage is also available, according to the property information.
Property improvements include vinyl plank flooring in the kitchens, bathrooms, and laundry areas, along with a refurbished roof. Xeriscape landscaping and a fenced backyard add to the exterior setup. The address is near parks, schools, shopping, and places of worship. An adjacent duplex with an RV garage is also available, according to the property information.
Key Highlights
- Central Commercial zoning with 2,234 SF across two units
- Each unit offers 3 bedrooms, 2 bathrooms, 1,117 SF, and a 1‑car garage
- Built in 2005 on a .29‑acre lot
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
$20,717
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
4.32%
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%
$414,340
$414.3K
Cap Rate 7%
$295,957
$296.0K
Cap Rate 9%
$230,189
$230.2K
Market Conditions
NOI Build-Up for 2,234 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
$30.8K $13.80/SF
− Vacancy
−$1.2K −$0.55/SF
EGI
$29.6K $13.25/SF
− OpEx
−$8.9K −$3.97/SF
NOI
$20.7K $9.27/SF
Area
Iron County, UT
Vacancy
4.00%
Lease Rate
$13.80 /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%
$414,340
Cap Rate 7%
$295,957
Cap Rate 9%
$230,189
Alternative Uses
Best Use
Multifamily LT 5
$296.0K
$259.0K – $345.3K
NOI $20,717 @ 7.0% cap · market cap 4.32%
Second Best
Apartment 5plus
$263.4K
$230.5K – $307.3K
NOI $18,439 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$456.3K
$399.2K – $532.3K
NOI $31,938 @ 7.0% cap · market cap 6.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
236
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?
Duplex - Two residential units with attached garages, established month-to-month occupancy, and updated flooring in key areas.
Where is this duplex located?
The property is located at 577-579 East Nichols Canyon Road Cedar City, UT.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: Central Commercial zoning with 2,234 SF across two units; Each unit offers 3 bedrooms, 2 bathrooms, 1,117 SF, and a 1‑car garage; Built in 2005 on a .29‑acre lot
