Flex Space with Tall
For Sale
$679,000
814 N 2475 W, Cedar City, UT 84721
Commercial Sale, Cedar City, UT
Property Size6,000 SF
Lot Size0.34 Acres
Price / SF$113.17
Days on Market54
Property Features for 814 N 2475 W
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Industrial
Directions
Airport Rd to 850 N (Coal Creek Industrial Park) west to 2475 cul-de-sac.
Subdivision
Outside Area
Standard status
Active
APN
B-0966-0011-0001
Size
6,000 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Annual Amount
520
Building Details
Year built
2026
Floors in Building
2
Listing Agency:
PRESTIGE REALTY
(435) 590-1426
Listed By:
JENNIE HENDRICKS · License #5483612-PB00
(435) 590-1426
Added: Jul 6
Changed: Aug 20
Last Checked: Aug 28 at 10:06PM
MLS# 26-274118
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 2026 flex property provides 3,000 SF available within a 6,000 SF building. Units A and B offer interiors that can be designed around operational needs, along with loft areas and full finished bathrooms. Each unit includes an 18-foot eave height, a 23-foot center-ridge ceiling, a reinforced 6-inch concrete slab, and insulated garage access through one 10-foot by 14-foot door and one 10-foot by 10-foot door.
Building systems include natural gas, hot and cold water spigots, a 200 Amp single-phase electrical panel, and two 50 Amp 220 V outlets per unit. Interior LED lighting, perimeter LED security lighting, and a fenced rear yard measuring 25 feet by 20 feet add functional support for occupants. The property is located at 814 N 2475 W in Cedar City, Utah.
Building systems include natural gas, hot and cold water spigots, a 200 Amp single-phase electrical panel, and two 50 Amp 220 V outlets per unit. Interior LED lighting, perimeter LED security lighting, and a fenced rear yard measuring 25 feet by 20 feet add functional support for occupants. The property is located at 814 N 2475 W in Cedar City, Utah.
Key Highlights
- 3,000 SF available within a 6,000 SF building
- 2026 construction with 18' eave height and 23' center‑ridge ceiling
- Each unit has one 10' x 14' and one 10' x 10' insulated garage door
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
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
252
Businesses Nearby
Well-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 - Newly built flex property with adaptable interiors, loft areas, dedicated utilities, and finished bathrooms.
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 $679,000.
What are key features of this property?
This property features: 3,000 SF available within a 6,000 SF building; 2026 construction with 18' eave height and 23' center‑ridge ceiling; Each unit has one 10' x 14' and one 10' x 10' insulated garage door
