1580 Providence Center Dr, Cedar City, UT 84720
- Retail properties & Spaces
- 16,107 SF
- 2.37 lot acres
Current Use by Public Records
- Liquor and Wine Store / (Bike/Boat/Book/etc) Store / Wine and Liquor Store
- DABS Utah State Liquor Store #18 Cedar City / (Bike/Boat/Book/etc) Store / Wine and Liquor Store
Property Details for 1580 Providence Center Dr
- Year built
- 2025
- Lot size
- 2.37 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Auto shops
Description
This exceptional investment opportunity presents a brand-new, 16,107-square-foot auto shop in Cedar City, Utah, boasting a 15-year absolute NNN lease with a prominent tenant, Cascade Collision Repair. The property, built in 2025, sits on a 2.37-acre lot with irreplaceable frontage on a high-traffic thoroughfare (37,000 vehicles per day). The lease, commencing March 31, 2025, and expiring March 31, 2040, includes two 5-year renewal options and a strong 3% annual rent increase, effectively hedging against inflation. The tenant, a regional leader backed by a national operator, Quality Collision Group (QCG), ensures consistent income and minimal landlord responsibilities. With a 6.25% cap rate and a net operating income (NOI) of $330,000, this property offers significant tax benefits through accelerated depreciation and cost segregation. Located in a thriving city ranked among the nation's best for business and growth, this investment provides exceptional passive income potential and strong long-term value. The asking price is $5,280,000, with a price per square foot of $327.81. The property is currently 100% occupied.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cedar City
- County
- Iron
- State
- Utah
- Longitude
- -113.088
- Latitude
- 37.6489
