Duplex with Detached RV
For Sale
$509,900
591-593 East Nichols Canyon Road Unit RV GARAGE, Cedar City, UT 84721
Commercially zoned duplex with private outdoor areas and one-car garages for each residence.
Property Size2,453 SF
Price / SF$207.87
Days on Market67
Property Features for 591-593 East Nichols Canyon Road Unit RV GARAGE
General Information
Standard status
Active
Size
2,453 SF
Property subtype
Residential Income
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$1,758
Amenities
Central Air
Yes
No
2
Building Details
Year Built
2007
Listing Agency:
ERA Realty Center
Listed By:
Jenny L Vossler · License #5464894-SA
(435) 559-1260
Source:
Compass
Added: Jun 29
Changed: Sep 3
Last Checked: Sep 2 at 11:39PM
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 at 591-593 East Nichols Canyon Road in Cedar City includes two residences, each measuring 1,226 SF with 3 bedrooms, 2 baths, a one-car garage, and an additional 180 SF covered carport or patio area. The property was built in 2007 on a .33-acre corner lot and includes fenced backyards, xeriscape landscaping, updated vinyl plank flooring in the kitchens, bathrooms, and laundry areas, and a refurbished roof.
A detached 20'x28' RV garage with power provides substantial enclosed storage space. The property is zoned Commercial and is occupied by long-term, month-to-month tenants. Its configuration includes separate residential units along with accessory garage and outdoor areas.
A detached 20'x28' RV garage with power provides substantial enclosed storage space. The property is zoned Commercial and is occupied by long-term, month-to-month tenants. Its configuration includes separate residential units along with accessory garage and outdoor areas.
Key Highlights
- Two‑unit duplex with 3 bedrooms, 2 baths, and 1,226 SF per unit
- Each unit includes a 1‑car garage and an additional 180 SF covered carport/patio area
- Detached 20'x28' RV garage with power
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
$22,748
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
4.46%
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%
$454,960
$455.0K
Cap Rate 7%
$324,971
$325.0K
Cap Rate 9%
$252,756
$252.8K
Market Conditions
NOI Build-Up for 2,453 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
$33.9K $13.80/SF
− Vacancy
−$1.4K −$0.55/SF
EGI
$32.5K $13.25/SF
− OpEx
−$9.7K −$3.97/SF
NOI
$22.7K $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%
$454,960
Cap Rate 7%
$324,971
Cap Rate 9%
$252,756
Alternative Uses
Best Use
Multifamily LT 5
$325.0K
$284.4K – $379.1K
NOI $22,748 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$289.2K
$253.1K – $337.5K
NOI $20,247 @ 7.0% cap · market cap 3.97%
Theoretical Best
Office A
$501.0K
$438.4K – $584.5K
NOI $35,068 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Commercially zoned duplex with private outdoor areas and one-car garages for each residence.
Where is this duplex located?
The property is located at 591-593 East Nichols Canyon Road Unit RV GARAGE Cedar City, UT.
What is the asking price?
The asking price for this property is $509,900.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms, 2 baths, and 1,226 SF per unit; Each unit includes a 1‑car garage and an additional 180 SF covered carport/patio area; Detached 20'x28' RV garage with power
