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    1222 University Ave Provo, UT 84601

    Sponsored
    For Sale
    $2,200,000

    High-traffic location, 0.64 acres, huge potential.

    Property size:
    27,878 SF

    Description

    Added:
    Jan 15, 2025
    Days on Market:
    356
    This exceptional 0.64-acre commercial land parcel presents a remarkable redevelopment opportunity in the vibrant city of Provo, Utah. Currently occupied by an Exxon gas station, this property sits on a high-traffic corridor, ensuring exceptional visibility and accessibility for businesses. The existing infrastructure offers a solid foundation for immediate use or redevelopment, minimizing upfront costs and streamlining the process. The site's strategic location within Provo's thriving commercial district guarantees strong potential for long-term growth and return on investment. Its suitability for a variety of uses, including restaurants, retail establishments, or a modernized convenience store, makes it an attractive proposition for developers and investors seeking to capitalize on Provo's robust economy and expanding population. The property's size, combined with its prime location, offers the chance to create a flagship presence in a rapidly growing area. This is a rare opportunity to acquire a well-positioned commercial property in a highly desirable location, poised for significant future appreciation. The asking price is $2,200,000.

    Property Features for 1222 University Ave

    General Information

    Property type
    Commercial land
    Square Feet
    27,878 SF
    Price / Square Foot
    $78
    Elevators
    N/A
    Lot Size
    27,878 SF

    Building Details

    Year Built
    1998

    HighLights

    • Prime 0.64‑acre Provo, UT commercial lot, ideal for redevelopment.
    • High daily traffic count ensures excellent visibility and accessibility.
    • Existing infrastructure facilitates immediate use or redevelopment, minimizing upfront costs.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Provo
    State
    Utah
    Longitude
    -111.659476
    Latitude
    40.217376

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    FAQs

    What type of property is this?
    Commercial land - High-traffic location, 0.64 acres, huge potential.
    Where is this commercial land located?
    The property is located at 1222 University Ave Provo, UT.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: Prime 0.64-acre Provo, UT commercial lot, ideal for redevelopment.; High daily traffic count ensures excellent visibility and accessibility.; Existing infrastructure facilitates immediate use or redevelopment, minimizing upfront costs.
    (385) 394-5552
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1222 University Ave Provo, UT 84601
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