Building Details

Year Built 2026

Stories 3

Units 16

Listing Agency: NAI Excel

Listed By: Wes Davis · License #UT 5502820-SA00 Show Phone

Source: Crexi

Added: Mar 31 Changed: Aug 14 Last Checked: Sep 2 at 9:33AM

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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 offering is a new construction multifamily development consisting of 8 town homes configured as 24-plexes, with plans prepared and construction activity started. The project provides for up to 16 possible rental units. Plans are in place and work is underway, and the construction is described as including a builders warranty for one year.

The information provided does not specify unit mix, finishes, or completion timing beyond noting that construction has begun. The property is located at 687 Guy Ln in Ivins, Utah.

As presented, this is a developer-led, for-sale opportunity for a rental-focused townhome multifamily project in the active construction phase, with warranty coverage during the first year following construction per the provided remarks.

Key Highlights

• New construction underway for an 8‑townhome, 16‑unit rental development
• Plans are ready and construction activity has started
• Builder’s warranty included for one year

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

$226,666

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

5.02%

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%

$4,533,320 $4.5M

Cap Rate 7%

$3,238,086 $3.2M

Cap Rate 9%

$2,518,511 $2.5M

Market Conditions

NOI Build-Up for 20,400 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

$428.4K $21.00/SF

− Vacancy

−$16.3K −$0.80/SF

EGI

$412.1K $20.20/SF

− OpEx

−$185.5K −$9.09/SF

NOI

$226.7K $11.11/SF

Area

Washington County, UT

Vacancy

3.80%

Lease Rate

$21.00 /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%

$4,533,320

Cap Rate 7%

$3,238,086

Cap Rate 9%

$2,518,511

Alternative Uses

Best Use

Apartment 5plus

$3.24M

$2.83M – $3.78M (±1% cap)

NOI $226,666 @ 7.0% cap · market cap 5.02%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$5.62M

$4.92M – $6.55M (±1% cap)

NOI $393,233 @ 7.0% cap · market cap 8.71%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Apartment buildings

Suggested Use

Top Pick Real Estate Agency Restaurant Building Supply Law Firm Big Box & Wholesale Store Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

16

Residential units

Location Intelligence

Trade Area within ½ mile

53

Businesses Nearby

Explore this area Business Placement

Demographics for 84738, UT

9,064

Population

4,469

Households

2

Avg Household Size

48

Median Age

45%

College-Educated

96%

High-School Grad

47.4 sq mi

ZIP Area

191

Density / Sq Mi

$72,075

Median Household Income

$35,789

Median Earnings

$1,717

Median Rent

$540,900

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Apartment building - New construction for an 8-townhome, 16-unit rental development underway with plans and builder warranty.

Where is this apartment building located?

The property is located at 687 Guy Ln Ivins, UT.

What is the asking price?

The asking price for this property is $4,517,000.

What are key features of this property?

This property features: New construction underway for an 8‑townhome, 16‑unit rental development; Plans are ready and construction activity has started; Builder’s warranty included for one year