Designable Flex Warehouse
For Sale
$679,000
814 2475, Cedar City, UT 84721
Two flex warehouse units feature reinforced concrete, insulated garage doors, and fenced rear yard access.
Property Size6,000 SF
Price / SF$113.17
Days on Market37
Property Features for 814 2475
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Industrial
Warehouse & Industrial
Clear Height
23 ft
Drive-In Doors
4
Additional Details
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$520
Amenities
3
0.34
Building Details
Year Built
2026
Listing Agency:
PRESTIGE REALTY
(435) 590-1426
Listed By:
JENNIE HENDRICKS · License #5483612-PB00
(435) 590-1426
Source:
Xome
Added: Jul 4
Changed: Aug 8
Last Checked: Aug 9 at 5:07AM
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 PRESTIGE REALTY
Investment Insights
Based on property information with market context.
This for-sale flex warehouse property includes Units A and B, with 3,000 SF of the total 6,000 SF available. Interiors are completely designable, including loft areas, and each unit is built for functional warehouse use.
Improvements include a reinforced 6-inch concrete slab, insulated garage doors (one 10' x 14' and one 10' x 10' per unit), and both hot and cold water spigots. The electrical package includes a 200 Amp single-phase panel plus two 50 Amp 220V outlets. Clear height includes an 18' eave height and a 23' ceiling height at the center ridge.
Each unit also includes a 25' x 20' rear fenced yard, a full finished bathroom, natural gas service, and an interior LED lighting package. Outside LED security lights run around the total perimeter.
Improvements include a reinforced 6-inch concrete slab, insulated garage doors (one 10' x 14' and one 10' x 10' per unit), and both hot and cold water spigots. The electrical package includes a 200 Amp single-phase panel plus two 50 Amp 220V outlets. Clear height includes an 18' eave height and a 23' ceiling height at the center ridge.
Each unit also includes a 25' x 20' rear fenced yard, a full finished bathroom, natural gas service, and an interior LED lighting package. Outside LED security lights run around the total perimeter.
Key Highlights
- Units A & B total 6,000 SF; 3,000 SF available (each unit in the 6,000 SF total).
- Reinforced 6" concrete slab with insulated garage doors: one 10' x 14' and one 10' x 10' per unit.
- Each unit includes natural gas, hot & cold water spigots, and a 200 Amp single‑phase electrical panel.
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
$56,119
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
8.26%
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%
$1,122,380
$1.1M
Cap Rate 7%
$801,700
$801.7K
Cap Rate 9%
$623,544
$623.5K
Market Conditions
NOI Build-Up for 6,000 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
$67.0K $11.16/SF
− Vacancy
−$937 −$0.16/SF
EGI
$66.0K $11.00/SF
− OpEx
−$9.9K −$1.65/SF
NOI
$56.1K $9.35/SF
Area
Iron County, UT
Vacancy
1.40%
Lease Rate
$11.16 /SF/Yr
Expense Ratio
15.00%
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%
$1,122,380
Cap Rate 7%
$801,700
Cap Rate 9%
$623,544
Alternative Uses
Best Use
Warehouse
$801.7K
$701.5K – $935.3K
NOI $56,119 @ 7.0% cap · market cap 8.26%
Second Best
Industrial
$660.2K
$577.7K – $770.3K
NOI $46,216 @ 7.0% cap · market cap 6.81%
Theoretical Best
Office A
$1.23M
$1.07M – $1.43M
NOI $85,777 @ 7.0% cap · market cap 12.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
23 ft
Clear height
4
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
191
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 - Two flex warehouse units feature reinforced concrete, insulated garage doors, and fenced rear yard access.
Where is this flex space located?
The property is located at 814 2475 Cedar City, UT.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: Units A & B total 6,000 SF; 3,000 SF available (each unit in the 6,000 SF total).; Reinforced 6" concrete slab with insulated garage doors: one 10' x 14' and one 10' x 10' per unit.; Each unit includes natural gas, hot & cold water spigots, and a 200 Amp single‑phase electrical panel.
