Designable Flex Warehouse
For Sale
$599,000
814 N 2475 W, Cedar City, UT 84721
COMMERCIAL - Cedar City, UT
Property Size4,500 SF
Lot Size0.34 Acres
Price / SF$133.11
Days on Market195
Property Features for 814 N 2475 W
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Industrial
Directions
Airport Road to 850 N (Coal Creek Industrial Park), west to 2475 W cul-de-sac.
Subdivision
Outside Area
Standard status
Active
APN
b-0970-0011-0000
Size
4,500 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Annual Amount
520
Building Details
Year built
2026
Floors in Building
1
Listing Agency:
PRESTIGE REALTY
(435) 590-1426
Listed By:
JENNIE HENDRICKS · License #5483612-PB00
(435) 590-1426
Added: Jan 30
Changed: Aug 4
Last Checked: Aug 13 at 8:06AM
MLS# 26-268595
Copyright © 2026 Washington County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale flex warehouse property offers two available units that total 6,000 square feet, with Unit C and Unit D each providing 3,000 square feet. The spaces are described as completely designable, including interior and loft areas. Improvements include a reinforced 6-inch concrete slab, LED interior lighting, and a combination of insulated garage doors (one 10' x 14' and one 10' x 10' per unit). Ceiling clearances are listed at 18' eave height and 23' ceiling height at the center ridge. Each unit includes natural gas and hot and cold water spigots, a 200-amp single-phase electrical panel, two 50-amp 220V outlets, a fully finished bathroom, and an exterior perimeter lighting package.
Each unit also features a 25' x 20' rear fenced yard for added operational flexibility.
Overall, the configuration supports a light industrial or flexible use layout with both overhead access and dedicated outdoor storage space.
Each unit also features a 25' x 20' rear fenced yard for added operational flexibility.
Overall, the configuration supports a light industrial or flexible use layout with both overhead access and dedicated outdoor storage space.
Key Highlights
- New construction built in 2026 with 2 units totaling 6,000 SF (Units C & D: 3,000 SF each)
- Each unit includes a reinforced 6'' concrete slab and fully designable interior/loft areas
- Each unit has natural gas plus hot and 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
$42,089
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
7.03%
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%
$841,780
$841.8K
Cap Rate 7%
$601,271
$601.3K
Cap Rate 9%
$467,656
$467.7K
Market Conditions
NOI Build-Up for 4,500 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
$50.2K $11.16/SF
− Vacancy
−$703 −$0.16/SF
EGI
$49.5K $11.00/SF
− OpEx
−$7.4K −$1.65/SF
NOI
$42.1K $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%
$841,780
Cap Rate 7%
$601,271
Cap Rate 9%
$467,656
Alternative Uses
Best Use
Warehouse
$601.3K
$526.1K – $701.5K
NOI $42,089 @ 7.0% cap · market cap 7.03%
Second Best
Industrial
$495.2K
$433.3K – $577.7K
NOI $34,662 @ 7.0% cap · market cap 5.79%
Theoretical Best
Office A
$919.0K
$804.2K – $1.07M
NOI $64,333 @ 7.0% cap · market cap 10.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
4
Drive-in doors
Yes
Fenced yard
Yes
Utilities to site
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Two available units include insulated garage doors, reinforced slab, high ceilings, and a fenced rear yard.
Where is this flex space located?
The property is located at 814 N 2475 W Cedar City, UT.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: New construction built in 2026 with 2 units totaling 6,000 SF (Units C & D: 3,000 SF each); Each unit includes a reinforced 6'' concrete slab and fully designable interior/loft areas; Each unit has natural gas plus hot and cold water spigots, and a 200 Amp single‑phase electrical panel
