Condo Storage Unit with Roll-Up
For Sale
$150,000
881 Aviation Way Unit 305, Cedar City, UT 84721
Condo storage unit offering on-site restroom access and a water tap with air hose, plus a 14-by-14 roll-up door.
Property Size960 SF
Price / SF$156.25
Days on Market194
Property Features for 881 Aviation Way Unit 305
General Information
Standard status
Active
Size
960 SF
Property subtype
Industrial
Amenities
restroom
water tap
air hose
3
0.02
Building Details
Year Built
2023
Listing Agency:
D & B REAL ESTATE*
(435) 559-1520
Listed By:
RICK LUNT · License #5478530
(435) 559-1520
Source:
Xome
Added: Jan 29
Changed: Aug 11
Last Checked: Aug 11 at 4:47AM
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 D & B REAL ESTATE*
Investment Insights
Based on property information with market context.
Condo storage units for sale at 881 W Aviation Way, Unit 305. The unit includes a 14-by-14 roll-up door, providing straightforward access for storage or workshop-style use. On-site amenities include a restroom, a water tap, and an air hose. The property is also described as something that can be built out and used as man caves.
CC&R’s will be in place, which may govern unit use and operating rules for the condo storage environment.
While specific layout details are not provided, this is a condo storage offering intended for private use, with practical utility amenities located on-site and roll-up access sized for larger recreational or hobby items.
CC&R’s will be in place, which may govern unit use and operating rules for the condo storage environment.
While specific layout details are not provided, this is a condo storage offering intended for private use, with practical utility amenities located on-site and roll-up access sized for larger recreational or hobby items.
Key Highlights
- 2023‑built condo storage unit with 14' x 14' roll‑up door
- On‑site restroom access, plus a water tap and air hose
- Guest facilities: 3
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
$8,979
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
5.99%
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%
$179,580
$179.6K
Cap Rate 7%
$128,271
$128.3K
Cap Rate 9%
$99,767
$99.8K
Market Conditions
NOI Build-Up for 960 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
$10.7K $11.16/SF
− Vacancy
−$150 −$0.16/SF
EGI
$10.6K $11.00/SF
− OpEx
−$1.6K −$1.65/SF
NOI
$9.0K $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%
$179,580
Cap Rate 7%
$128,271
Cap Rate 9%
$99,767
Alternative Uses
Best Use
Warehouse
$128.3K
$112.2K – $149.7K
NOI $8,979 @ 7.0% cap · market cap 5.99%
Second Best
Self Storage
$120.4K
$105.3K – $140.5K
NOI $8,427 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$196.1K
$171.6K – $228.7K
NOI $13,724 @ 7.0% cap · market cap 9.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
107
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 Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Condo storage unit offering on-site restroom access and a water tap with air hose, plus a 14-by-14 roll-up door.
Where is this self storage facility located?
The property is located at 881 Aviation Way Unit 305 Cedar City, UT.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: 2023‑built condo storage unit with 14' x 14' roll‑up door; On‑site restroom access, plus a water tap and air hose; Guest facilities: 3
