Medical Office Suite with Procedure
For Sale
$2,350,000
1055 N 300 W #104, Provo, UT 84604
Clinical layout includes pre- and post-procedure areas, two procedure rooms, and dedicated clinic space.
Property Size107,840 SF
Price / SF$399.80
Days on Market110
Property Features for 1055 N 300 W #104
General Information
Standard status
Active
Size
107,840 SF
Net Rentable
5,878 SF
Class
C
Property subtype
Office - General Office
Additional Details
Office Units
1
Building Details
Building Size
107,840 SF
Year Built
1985
Year Renovated
2020
Abandoned
No
Listing Agency:
Spark Realty
Listed By:
Andy Evans
Source:
Commercialcafe
Added: May 15
Changed: Aug 31
Last Checked: Aug 31 at 1:42PM
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.
Suite 104 offers 5,878 RSF of built-out medical office space within the Physician’s Plaza at the Utah Valley hospital campus. The layout includes pre- and post-procedure areas, two procedure rooms, and additional clinic space. The suite was previously occupied by an Interventional Vascular and Vein Center and is ready for immediate occupancy.
The property is located in Provo, with access to the Provo/Orem market and a central position within Utah County. Constructed in 1985, the medical office suite is available for sale or lease, providing flexibility for an owner-user or medical practice seeking an established clinical configuration.
The property is located in Provo, with access to the Provo/Orem market and a central position within Utah County. Constructed in 1985, the medical office suite is available for sale or lease, providing flexibility for an owner-user or medical practice seeking an established clinical configuration.
Key Highlights
- 5,878 RSF medical office suite in Physician’s Plaza
- Located at the Utah Valley hospital campus
- Two procedure rooms with pre- and post‑procedure areas
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
Current Use
Lease Details
1
Office units
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Clinical layout includes pre- and post-procedure areas, two procedure rooms, and dedicated clinic space.
Where is this medical office space located?
The property is located at 1055 N 300 W #104 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: 5,878 RSF medical office suite in Physician’s Plaza; Located at the Utah Valley hospital campus; Two procedure rooms with pre- and post‑procedure areas
