New Retail Building on
For Sale
Contact for pricing
N Main St 941, Cedar City, UT 84721
New retail building with drive-through, excellent location and visibility.
Property Size9,890 SF
Lot Size0.93 Acres
Price / SF$232.46
Days on Market904
Property Features for N Main St 941
General Information
Standard status
Active
Size
9,890 SF
Lot size
0.93 Acres
Property subtype
Special Purpose, Land
Zoning
Commercial
Building Details
Year Built
2024
Buildings
1
Stories
1
Listing Agency:
Coldwell Banker Premier Realty Saint George
(435) 628-6700
Listed By:
Shayne Barney · License #UT-5469278-PB00
Source:
Crexi
Added: Mar 2, 2024
Changed: Aug 23
Last Checked: Aug 23 at 2:39AM
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 Coldwell Banker Premier Realty Saint George
Investment Insights
Based on property information with market context.
This is a new retail building located on Main Street, offering endless opportunities for various businesses. The building is designed with a drive-through and can accommodate a single user or be divided into up to 3 separate spaces. It features an excellent location and visibility. The property size is 9890 square feet. An additional 0.93-acre commercial lot adjacent to the property is also available.
Key Highlights
- New retail building built in 2024
- Drive‑through design
- Excellent location and visibility on Main Street
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
$89,373
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
3.89%
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%
$1,787,460
$1.8M
Cap Rate 7%
$1,276,757
$1.3M
Cap Rate 9%
$993,033
$993.0K
Market Conditions
NOI Build-Up for 9,890 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
$130.5K $13.20/SF
− Vacancy
−$2.9K −$0.29/SF
EGI
$127.7K $12.91/SF
− OpEx
−$38.3K −$3.87/SF
NOI
$89.4K $9.04/SF
Area
Iron County, UT
Vacancy
2.20%
Lease Rate
$13.20 /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%
$1,787,460
Cap Rate 7%
$1,276,757
Cap Rate 9%
$993,033
Alternative Uses
Best Use
Retail
$1.28M
$1.12M – $1.49M
NOI $89,373 @ 7.0% cap · market cap 3.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.02M
$1.77M – $2.36M
NOI $141,389 @ 7.0% cap · market cap 6.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,254
Businesses Nearby
56k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 31%
Dining 28%
Shops & Services 28%
Hotels & Casinos 8%
Hurst Ace Hardware
Home Improvements & Furnishings
17,346 visits/mo
0.1 miles
Maverik Adventures First Stop
Shops & Services
10,011 visits/mo
0.2 miles
Great Harvest Bread Co.
Dining
7,990 visits/mo
0.3 miles
Phillips 66
Shops & Services
5,523 visits/mo
0.0 miles
Best Western Plus Cedar City
Hotels & Casinos
4,530 visits/mo
0.3 miles
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 Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - New retail building with drive-through, excellent location and visibility.
Where is this retail space located?
The property is located at N Main St 941 Cedar City, UT.
What is the asking price?
The asking price for this property is $2,299,000.
What are key features of this property?
This property features: New retail building built in 2024; Drive‑through design; Excellent location and visibility on Main Street
