Retail Space - For Sale
1410 South Providence Center Drive Cedar City, UT 84720
Details & Description
Price: $2,573,000
  • Property Type Retail for Sale : Shopping Center
  • Lot Size Acres 0.000
  • Building Sq Ft 7,483
  • Building Price per Sq Ft $343.85
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in Providence Center, a 7,483 SF, 100% occupied, 5-tenant retail pad investment opportunity located in Cedar City, UT. The property is currently occupied by Verizon Wireless, Sally Beauty, GameStop, The Nails, and QC Financial. A majority of the tenants (80%) have operated at the center since its construction in 2004 and have since renewed their leases multiple times and even most recently in 2019 for an additional term of 3-5 years. Three of the 5 current tenants also have scheduled future rental increases, generating healthy NOI growth and hedging against inflation. All tenants are operating on NNN leases and reimburse their pro-rata share for taxes, CAM, and insurance, minimizing expense leakage for a new owner.Providence Center is located directly off S. Providence Center Drive, the primary access road for the adjacent Walmart Supercenter and Home Depot. The site is also strategically positioned just a mere block away from the on/off ramps to Interstate 15 (20,500 VPD), the primary north/south freeway traveling through Cedar City and central Utah. The property, was constructed in 2004 and is ideally positioned as a pad to both a Walmart Supercenter and Home Depot anchored shopping center that features other national retailers such as Applebee’s, Subway, Jack in the Box, Great Clips, and more, boosting direct crossover synergy between the tenants. In addition, the immediate trade area is the primary retail hub serving Cedar City with other nearby national tenants such as Walgreens, VASA Fitness, Starbucks, Del Taco, Panda Express, and more, further increasing consumer traffic to the area. Cedar City is also home to Southern Utah University with over 11,200 student admitted in the Fall of 2019, providing the retail pad a direct consumer base from which to draw. The 5-mile trade area is supported by a dense population of more than 34,500 residents and daytime employees with an average household income of $62,000.
Listing Agents
Matthew Mousavi

O: 949-698-1116
M: 714-404-8849
matthew.mousavi@srsre.com
While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

1410 South Providence Center Drive

Cedar City, UT 84720

Providence Center

Listing ID: 255871
$2,573,000
For Sale
  • Property Type Retail for Sale : Shopping Center
  • Lot Size Acres 0.000
  • Building Sq Ft 7,483
  • Building Price per Sq Ft $343.85
  • 1410 South Providence Center Drive Cedar City, UT 84720 | for Sale | Photo 1
  • 1410 South Providence Center Drive Cedar City, UT 84720 | for Sale | Photo 2
  • 1410 South Providence Center Drive Cedar City, UT 84720 | for Sale | Photo 3
1410 South Providence Center Drive | for Sale | Thumbnail 1
1410 South Providence Center Drive | for Sale | Thumbnail 2
1410 South Providence Center Drive | for Sale | Thumbnail 3
Description

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in Providence Center, a 7,483 SF, 100% occupied, 5-tenant retail pad investment opportunity located in Cedar City, UT. The property is currently occupied by Verizon Wireless, Sally Beauty, GameStop, The Nails, and QC Financial. A majority of the tenants (80%) have operated at the center since its construction in 2004 and have since renewed their leases multiple times and even most recently in 2019 for an additional term of 3-5 years. Three of the 5 current tenants also have scheduled future rental increases, generating healthy NOI growth and hedging against inflation. All tenants are operating on NNN leases and reimburse their pro-rata share for taxes, CAM, and insurance, minimizing expense leakage for a new owner.

Providence Center is located directly off S. Providence Center Drive, the primary access road for the adjacent Walmart Supercenter and Home Depot. The site is also strategically positioned just a mere block away from the on/off ramps to Interstate 15 (20,500 VPD), the primary north/south freeway traveling through Cedar City and central Utah. The property, was constructed in 2004 and is ideally positioned as a pad to both a Walmart Supercenter and Home Depot anchored shopping center that features other national retailers such as Applebee’s, Subway, Jack in the Box, Great Clips, and more, boosting direct crossover synergy between the tenants. In addition, the immediate trade area is the primary retail hub serving Cedar City with other nearby national tenants such as Walgreens, VASA Fitness, Starbucks, Del Taco, Panda Express, and more, further increasing consumer traffic to the area. Cedar City is also home to Southern Utah University with over 11,200 student admitted in the Fall of 2019, providing the retail pad a direct consumer base from which to draw. The 5-mile trade area is supported by a dense population of more than 34,500 residents and daytime employees with an average household income of $62,000.

Points of Interest & Demographic Radii
Points of Interest
Demographic Radii
POIs provided for entertainment purposes only. Data comes from multiple data sources as well as users and agents. MyEListing makes no claims whatsoever as to the accurancy and/or completeness.
 
Cedar City History of Retail Space for Sale

Loan and Amortization Calculator

Listing Price
Down Payment

Loan Amount:
Interest Rate:
Term (months):

Your Monthly Payment

$0.00

Total Principal: --

Total Interest: --

Total Cost: --

Cedar City Area Market Trends

Listing Demographics for 1410 South Providence Center Drive Cedar City, UT 84720

All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

1-Mile 3-Miles 5-Miles
Total Population1,69817,55227,537
Population Median Age353332
Population by Age0-9 Yrs281 (16%)2408 (13%)4444 (16%)
10-19 Yrs260 (15%)2977 (16%)4250 (15%)
20-29 Yrs268 (15%)4326 (24%)6512 (23%)
30-39 Yrs186 (10%)1860 (10%)3136 (11%)
40-49 Yrs214 (12%)1951 (11%)2831 (10%)
50-59 Yrs139 (8%)1328 (7%)2217 (8%)
60-69 Yrs168 (9%)1372 (7%)2165 (7%)
70+ Yrs182 (10%)1329 (7%)1983 (7%)
Median HH Income$75,259$47,878$49,076
Total Household Income< 24K99 (17%)1507 (24%)2302 (24%)
25-49K77 (13%)1645 (26%)2538 (26%)
50-74K110 (19%)1178 (19%)1751 (18%)
75-99K145 (25%)808 (13%)1336 (13%)
100-199K120 (20%)811 (13%)1350 (14%)
200K+23 (4%)173 (2%)267 (2%)
Highest Education LevelNo Diploma17251830
Diploma or GED23219113309
Some College31527814474
Assoc. Degree396041067
Bachelors Degree20722403331
Higher Degree18913181732
Total Housing Units6016,77710,592
--Owner-Occupied4253,3315,114
--Renter-Occupied1502,7904,430
Owner-Occupied Values< 100K14199353
100-199K10910471784
200-299K16910581562
300-399K967501020
400-499K29207271
500K+770122
Total Working Age Population1,28313,80921,148
In Work Force8248,78413,542
Not In Work Force4595,0257,606
Workforce Employed8038,25012,861
Workforce Unemployed21522669
Civlian Workforce8248,77213,530
Military Workforce01212
Total Households5756,1219,544
Family Households3943,9916,387
Non-Family Households1802,1303,156
Married Couple3503,2735,201
Other Family447191,186
Married w/Child1811,4492,446
Single Male w/Child7109204
Single Female w/Child19311504

Population Change Last Two Decades - Plus Projection

2000%2010%2020%2030
Utah2,233,169+242,763,885+203,325,425+173,889,310
Iron County33,779+3746,163+1955,056+1663,898
Washington County90,354+53138,115+35186,618+35251,636

Total Working Age Population:

Total Households:

Total Working Age Population:

Total Households:

Total Working Age Population:

Total Households:

No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.

While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

Other Retail Space Listings for Sale Nearby
Address Price Sq Ft Acres
680 North State Street, Hildale, UT $3,950,000 15800 2
385 South Main Street, Richfield, UT $710,000 5030 0.79
1453 Utah 24, Hanksville, UT $890,000 3880 3.21
479 West Craig Road, North Las Vegas, NV $19,600,000 55595 5.3
1129 Arizona Street, Boulder City, NV $650,000 1500 0.3
1214 D Street, Las Vegas, NV $435,000 4353 0.16
1930 East Fremont Street, Las Vegas, NV $975,000 4362 0.66
3121 North Rancho Drive, Las Vegas, NV $2,650,000 30934 3.18
445 Marks Street, Henderson, NV $6,598,045 10839 1.25
1176 Vegas Valley Drive, Las Vegas, NV $895,000 5630 0.55
Closest Commercial Airports
Airport Distance (mi)
McCarran International Airport (LAS) 158
Salt Lake City International Airport (SLC) 225
Phoenix Sky Harbor International Airport (PHX) 298