Designable Flex Warehouse
For Sale
$679,000
A-b-814 N 2475 W, Cedar City, UT 84720
Units feature reinforced concrete slab, insulated garage doors, and fenced rear yard space.
Property Size6,000 SF
Price / SF$113.17
Days on Market58
Property Features for A-b-814 N 2475 W
General Information
Standard status
Active
Size
6,000 SF
Warehouse & Industrial
Clear Height
23 ft
Drive-In Doors
2
Additional Details
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$520
Listing Agency:
Prestige Realty
Listed By:
Jennie Hendricks · License #5483612-PB00
(435) 590-1426
Source:
Exprealty
Added: Jul 10
Changed: Sep 2
Last Checked: Sep 5 at 11:41AM
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.
A designable flex warehouse property offering multiple unit sizes, including 1,500 SF, 3,000 SF, 4,500 SF, and 6,000 SF options. Each unit includes loft areas and a reinforced 6-inch concrete slab, along with insulated garage door access (one 10' x 14' and one 10' x 10' per unit). Interior improvements include a full finished bathroom and an interior LED light package, while the exterior includes outside LED security lights covering the total perimeter.
Operational features are well-suited for a wide range of industrial and flex users. Each unit has natural gas service, hot and cold water spigots, and a 200 Amp single-phase electrical panel with two 50 Amp 220V outlets. Ceiling heights include an 18' eave height and 23' ceiling height at the center ridge. A 25' x 20' rear fenced yard is included with each unit.
The property is offered for sale and each unit provides a combination of drive-through-ready garage door access, interior flex space, and secured outdoor storage within the fenced yard area.
Operational features are well-suited for a wide range of industrial and flex users. Each unit has natural gas service, hot and cold water spigots, and a 200 Amp single-phase electrical panel with two 50 Amp 220V outlets. Ceiling heights include an 18' eave height and 23' ceiling height at the center ridge. A 25' x 20' rear fenced yard is included with each unit.
The property is offered for sale and each unit provides a combination of drive-through-ready garage door access, interior flex space, and secured outdoor storage within the fenced yard area.
Key Highlights
- Multiple unit sizes available: 1,500 SF, 3,000 SF, 4,500 SF, or 6,000 SF
- Completely designable interior and loft areas
- Reinforced 6'' concrete slab in each unit
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
$46,216
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
6.81%
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%
$924,320
$924.3K
Cap Rate 7%
$660,229
$660.2K
Cap Rate 9%
$513,511
$513.5K
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
−$19.8K −$3.30/SF
NOI
$46.2K $7.70/SF
Area
Iron County, UT
Vacancy
1.40%
Lease Rate
$11.16 /SF/Yr
Expense Ratio
30.00%
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%
$924,320
Cap Rate 7%
$660,229
Cap Rate 9%
$513,511
Alternative Uses
Best Use
Industrial
$660.2K
$577.7K – $770.3K
NOI $46,216 @ 7.0% cap · market cap 6.81%
Second Best
Flex RnD
$613.1K
$536.4K – $715.3K
NOI $42,915 @ 7.0% cap · market cap 6.32%
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
2
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 84720, UT
23,607
Population
8,984
Households
2.6
Avg Household Size
28
Median Age
35%
College-Educated
95%
High-School Grad
341.5 sq mi
ZIP Area
69
Density / Sq Mi
$63,742
Median Household Income
$29,979
Median Earnings
$932
Median Rent
$357,400
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 - Units feature reinforced concrete slab, insulated garage doors, and fenced rear yard space.
Where is this flex space located?
The property is located at A-b-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: Multiple unit sizes available: 1,500 SF, 3,000 SF, 4,500 SF, or 6,000 SF; Completely designable interior and loft areas; Reinforced 6'' concrete slab in each unit
