Medical Office Tower LLC
For Sale
Contact for pricing
Pending
1055 N 300 W, Provo, UT 84604
Opportunity to lease or purchase LLC shares tied to Provo Physician's Tower medical office space.
Property Size5,878 SF
Days on Market120
Property Features for 1055 N 300 W
General Information
Standard status
Pending
Size
5,878 SF
Class
C
Property subtype
Office
Zoning
HCF
Lease Type
NNN
Building Details
Year Built
1985
Buildings
1
Units
1
Listing Agency:
Spark Realty
Listed By:
Andy Evans · License #UT
Source:
Crexi
Added: May 6
Changed: Aug 22
Last Checked: Sep 2 at 10:08AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Spark Realty
Investment Insights
Based on property information with market context.
This offering provides the ability to lease or purchase LLC shares associated with Provo Physician's Tower, a medical office space. The property is listed for sale and includes an offering structure of available LLC shares, providing an ownership-based path for qualified buyers.
The building is located at 1055 N 300 W in Provo, Utah. The property size is reported as 5,878 square feet. For additional details on the LLC share terms and availability, contact the listing broker.
The building is located at 1055 N 300 W in Provo, Utah. The property size is reported as 5,878 square feet. For additional details on the LLC share terms and availability, contact the listing broker.
Key Highlights
- 1985‑built Provo Physician's Tower medical office building
- Opportunity to lease or purchase LLC shares tied to Provo Physician's Tower medical office space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$80,546
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.43%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,610,920
$1.6M
Cap Rate 7%
$1,150,657
$1.2M
Cap Rate 9%
$894,956
$895.0K
Market Conditions
NOI Build-Up for 5,878 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$146.7K $24.96/SF
− Vacancy
−$12.5K −$2.12/SF
EGI
$134.2K $22.84/SF
− OpEx
−$53.7K −$9.14/SF
NOI
$80.5K $13.70/SF
Area
Provo, UT
Vacancy
8.50%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,610,920
Cap Rate 7%
$1,150,657
Cap Rate 9%
$894,956
Alternative Uses
Best Use
Healthcare Medical
$1.15M
$1.01M – $1.34M
NOI $80,546 @ 7.0% cap · market cap 3.43%
Second Best
Office B
$1.06M
$929.4K – $1.24M
NOI $74,351 @ 7.0% cap · market cap 3.16%
Theoretical Best
Office A
$1.62M
$1.42M – $1.89M
NOI $113,479 @ 7.0% cap · market cap 4.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,030
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 84604, UT
45,503
Population
13,285
Households
3.4
Avg Household Size
26
Median Age
56%
College-Educated
98%
High-School Grad
94.8 sq mi
ZIP Area
480
Density / Sq Mi
$74,522
Median Household Income
$16,799
Median Earnings
$1,128
Median Rent
$520,500
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Opportunity to lease or purchase LLC shares tied to Provo Physician's Tower medical office space.
Where is this medical office space located?
The property is located at 1055 N 300 W Provo, UT.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: 1985‑built Provo Physician's Tower medical office building; Opportunity to lease or purchase LLC shares tied to Provo Physician's Tower medical office space
