Building Details

Year built 2020

Floors in Building 1

Listing Agency: WHITE CROW REAL ESTATE h***@gmail.com Show Phone

Listed By: SHELLEE Annette HAINES Show Phone

Added: Oct 6, 2023 Changed: Aug 4 Last Checked: Aug 21 at 4:06PM

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MLS# 23-245225

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 5,200-square-foot restaurant occupies a 1-acre property and was built in 2020. The layout includes dedicated indoor and outdoor dining areas, a commercial kitchen, a rooftop balcony, and an outdoor patio. Water features, planters, and artwork contribute to the property’s designed interior and exterior environment.

Located on N Hwy 9 in Virgin, Utah, the restaurant offers views from its elevated balcony and patio areas. The combination of dining space, kitchen infrastructure, and multiple outdoor components creates a distinctive restaurant property with both enclosed and open-air areas for operations and guest seating.

Key Highlights

• 5,200‑square‑foot restaurant on a 1‑acre property
• Built in 2020
• Indoor and outdoor dining areas

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

$100,236

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

3.71%

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%

$2,004,720 $2.0M

Cap Rate 7%

$1,431,943 $1.4M

Cap Rate 9%

$1,113,733 $1.1M

Market Conditions

NOI Build-Up for 5,200 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

$135.4K $26.04/SF

− Vacancy

−$1.8K −$0.34/SF

EGI

$133.6K $25.70/SF

− OpEx

−$33.4K −$6.43/SF

NOI

$100.2K $19.28/SF

Area

Washington County, UT

Vacancy

1.30%

Lease Rate

$26.04 /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%

$2,004,720

Cap Rate 7%

$1,431,943

Cap Rate 9%

$1,113,733

Alternative Uses

Best Use

Specialty Retail

$1.43M

$1.25M – $1.67M (±1% cap)

NOI $100,236 @ 7.0% cap · market cap 3.71%

Second Best

Industrial

$517.8K

$453.1K – $604.1K (±1% cap)

NOI $36,246 @ 7.0% cap · market cap 1.34%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Conventional restaurants

Location Intelligence

Trade Area within ½ mile

26

Businesses Nearby

Explore this area Business Placement

Demographics for 84779, UT

730

Population

574

Households

1.3

Avg Household Size

44

Median Age

26%

College-Educated

90%

High-School Grad

232.0 sq mi

ZIP Area

3

Density / Sq Mi

$80,625

Median Household Income

$27,857

Median Earnings

$466,300

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - The property combines indoor and outdoor dining areas with a commercial kitchen and landscaped outdoor features.

Where is this conventional restaurant located?

The property is located at N HWY 9 Virgin, UT.

What is the asking price?

The asking price for this property is $2,700,000.

What are key features of this property?

This property features: 5,200‑square‑foot restaurant on a 1‑acre property; Built in 2020; Indoor and outdoor dining areas