Renovated Flex Space with
New
For Sale
$689,900
911 N 2175 W, Cedar City, UT 84721
Commercial Sale, Cedar City, UT
Property Size3,200 SF
Lot Size0.39 Acres
Price / SF$215.59
Days on Market4
Property Features for 911 N 2175 W
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Industrial, Commercial
Directions
Head west on 200 N/Hwy 56. Turn right onto Airport Road. Turn left onto 850 N. Turn right onto 2175 W. Building will be on the left.
Subdivision
Outside Area
Standard status
Active
APN
B-1648-0005-0000
Size
3,200 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Annual Amount
3973
Amenities
break room/kitchenette
reception area
Building Details
Year built
2005
Floors in Building
2
Listing Agency:
Re/Max Properties
(435) 229-1797
Listed By:
JARED ZIMMER · License #6013367-PB00
(435) 865-7600
Added: Aug 19
Last Checked: Aug 22 at 2:06PM
MLS# 26-275300
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 renovated flex property combines approximately 2,400 square feet of warehouse area with an approximately 800-square-foot main level. The finished portion includes offices, a bathroom, break room and kitchenette, reception area, and retail showroom. An additional approximately 600-square-foot mezzanine expands the usable configuration for shop, office, or storage functions.
The warehouse offers 18-foot ceilings, an 12-foot garage door, and both 220V and 110V power. A sealed driveway and parking area serve the property. Positioned at 911 N 2175 W in Cedar City’s Coal Creek Industrial Park, the site includes approximately 0.39 acres. Built in 2005, the property is available for purchase, lease, or lease-option arrangements, with final terms to be negotiated.
The warehouse offers 18-foot ceilings, an 12-foot garage door, and both 220V and 110V power. A sealed driveway and parking area serve the property. Positioned at 911 N 2175 W in Cedar City’s Coal Creek Industrial Park, the site includes approximately 0.39 acres. Built in 2005, the property is available for purchase, lease, or lease-option arrangements, with final terms to be negotiated.
Key Highlights
- Approximately 3,200 square feet of commercial space on approximately 0.39 acres
- Approximately 2,400 square feet of warehouse area plus approximately 800 square feet on the main level
- Approximately 600‑square‑foot mezzanine for shop, office, or storage use
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
$32,659
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
4.73%
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%
$653,180
$653.2K
Cap Rate 7%
$466,557
$466.6K
Cap Rate 9%
$362,878
$362.9K
Market Conditions
NOI Build-Up for 3,200 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
$46.1K $14.40/SF
− Vacancy
−$2.5K −$0.79/SF
EGI
$43.5K $13.61/SF
− OpEx
−$10.9K −$3.40/SF
NOI
$32.7K $10.21/SF
Area
Iron County, UT
Vacancy
5.50%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
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%
$653,180
Cap Rate 7%
$466,557
Cap Rate 9%
$362,878
Alternative Uses
Best Use
Office B
$466.6K
$408.2K – $544.3K
NOI $32,659 @ 7.0% cap · market cap 4.73%
Second Best
Warehouse
$427.6K
$374.1K – $498.8K
NOI $29,930 @ 7.0% cap · market cap 4.34%
Theoretical Best
Office A
$653.5K
$571.9K – $762.5K
NOI $45,748 @ 7.0% cap · market cap 6.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
225
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Renovated commercial property combining warehouse, office, showroom, and support areas within a flexible industrial layout.
Where is this flex space located?
The property is located at 911 N 2175 W Cedar City, UT.
What is the asking price?
The asking price for this property is $689,900.
What are key features of this property?
This property features: Approximately 3,200 square feet of commercial space on approximately 0.39 acres; Approximately 2,400 square feet of warehouse area plus approximately 800 square feet on the main level; Approximately 600‑square‑foot mezzanine for shop, office, or storage use
