For Sale
$12,501,648

624 Main StCedar City, UT 84720

Cedar City retail center, strong NOI

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents Renaissance Square, a 79,354-square-foot retail center in Cedar City, Utah. Located on 6.1 acres at 624 S Main St, 84720, this stabilized, multi-tenant property boasts a 100% occupancy rate and a strong NOI of $817,608, generating a 6.54% cap rate. The asking price is $12,501,648 ($157.54/sq ft). Built in 1974 and renovated in 1996, the property features two single-story buildings, zoned for central commercial use. Key tenants include Harbor Freight, Jo-Ann Fabrics, Famous Footwear, Verizon, Deseret Book, and Jamba Juice, many with long-term leases and built-in rent increases. The property benefits from its location near Southern Utah University (11,224 students), six national parks, Brian Head Ski Resort, and within 20 minutes of St. George, a rapidly growing metro area. High traffic counts (Main Street: 19,782 VPD

Highlights

  • 79,354 SF retail center in Cedar City, UT, on 6.1 acres, anchored by Harbor Freight and Jo-Ann Fabrics. Three buildings, including a two-tenant pad building and two multi-tenant buildings. Zero vacancy.
  • Located in a designated Opportunity Zone, offering significant tax advantages.
  • Anchored by Harbor Freight, Jo-Ann Fabrics, and PetSense, with strong credit ratings and long-term leases.
  • Deseret Book recently signed a new 5-year lease.
  • Excellent location near six national parks, Brian Head Ski Resort, Southern Utah University (11,224 students), and St. George.
  • High traffic counts: 19,782 VPD on Main Street and proximity to I-15 (30,563 VPD).

Property Details for 624 Main St

Property type
Lifestyle centers, Power centers
Square Feet
79,354 SF
Year Built/Renovated
1974/1996
Buildings
2
Stories
1
Lot Size (sq. ft)
265,716 SF

Location Insight

City
Cedar City
County
Iron
State
Utah
Latitude
37.666959
Longitude
-113.063717
624 Main St, Cedar City, Utah

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
624 Main St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message