176 Dl Sargent Dr - Office FOR SALE


Cedar City, UT 84721
$5,350,000 USD
949-419-3276
176 Dl Sargent Dr, Cedar City, UT for Sale
$5,350,000 USD
Office - FOR SALE
1/5
null | 6.91% Cap Rate

176 Dl Sargent Dr
Cedar City, UT 84721


HIGHLIGHTS

  • Single Credit Tenant – United States Government Lease – U.S. Bureau of Land Management (BLM)
  • 2nd generation lease with 12 years firm term remaining
  • Rent increases in 2030 and 2034
  • AAA (Moody’s) Credit Rating
  • Attractive 6.91% weighted average CAP Rate
  • Single-story, 18,026 square foot building

OVERVIEW

Marcus & Millichap is pleased to offer a unique opportunity to acquire a government-leased, AAA rated, single credit-tenant office building in Cedar City, UT, with a long-term, 20-year firm-term lease to the Bureau of Land Management which commenced on 02/01/2017, featuring rent increases in 2030 and 3034 and a weighted average CAP Rate of 6.91%. The single-story, 18,026 square foot building offers stable, predictable cash flow with minimal risk, backed by the U.S. federal government. Located in Cedar City, UT, a growing regional hub, the property serves as an essential base for BLM’s administrative and field operations in the area. Cedar City is strategically positioned for ease of access to other key federal properties and natural resources managed by BLM.  Cedar City is a rapidly growing city in southern Utah, with a strong local economy supported by tourism, agriculture, and the presence of Southern Utah University. The city's strategic location and economic development contribute to a favorable market for government leasing activity. This investment is ideal for institutional investors or those seeking a long-term, low-risk asset in a growing market.

FOR SALE DETAILS

PRICE

$5,350,000 USD

PRICE/SF

$297 USD /SF

CAP RATE

6.91%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Major Rent Bumps - Bureau of Land Management

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1975

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

3.07 AC

LAND SF

133,729 SF

ZONING

-

APN/PARCEL ID

B-1196-0019-0000

ASK ABOUT THIS PROPERTY

Alex MobinMarcus & MillichapMore Info
949-419-3276

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Alex MobinMarcus & MillichapMore Info
949-419-3276

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.