Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2235 N University Pkwy Provo, UT 84604

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Inline retail space anchored by Walmart near BYU and UVU.

    Property size:
    3,394 SF
    Lot size:
    3.12 Acres

    Property Features for 2235 N University Pkwy

    General Information

    Size
    3,394 SF
    Lot size
    3.12 Acres

    We can help!

    Listing Contact
    Cameron Simonsen
    Cameron Simonsen
    Source: Moodyscre

    Listing Agent: Cameron Simonsen

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Retail Space Near University

    This available inline retail space is anchored by a high-performing neighborhood Walmart. The property is located near Brigham Young University (BYU) and Utah Valley University (UVU), which have a combined student population of 66,000. New monument signage is available. The parking is excellent, with a ratio of over 5 spaces per 1,000 square feet, featuring head-in stalls. The property is suitable for inline retailers. Brand new schools, including the Utah County Academy of Science and a salon training center, are opening adjacent to the site. The property has a size of 3394 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Strip malls

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Provo
    County
    Utah
    State
    Utah
    Longitude
    -111.6680241
    Latitude
    40.2628818

    Nearby Similar for Lease

    • Contact for pricing
      47,045 SF

      Provo Commercial Property with Warehouse

      Commercial property with offices, warehouse, and yard space available.
      1964 Ironton Blvd, Provo, UT 84606
      View Details
    • Contact for pricing
      871 SF

      Remodeled Retail Space in Provo

      Newly remodeled retail space with modern design and great visibility.
      2255 N University Pkwy, Provo, UT 84604
      View Details
    • Contact for pricing
      436 SF

      Office Suite in Provo, UT

      Office suite with break room and dual access available for rent.
      3550 N University Ave, Provo, UT 84604
      View Details
    • $1.10 SF/Yr
      12,317 SF

      Spacious Industrial Space in Provo

      12,000 SF industrial space with four ground-level doors.
      2103 S Tracy Hall Pkwy, Provo, UT
      View Details
    • Contact for pricing

      Versatile Industrial Space in Provo

      12,000 sq ft industrial space with four ground-level doors.
      Provo, UT 84606
      View Details
    • $25 SF/Yr
      23,941 SF

      Class A Office Building

      Class A office building with freeway access and on-site amenities.
      1800 South Novell Pl, Provo, UT 84606
      View Details
    • $19 SF/Yr
      3,568 SF

      Furnished Office Space in Provo

      Furnished office space in Provo near BYU and UVU.
      3601 N University Ave, Provo, UT 84604
      View Details
    • $9 SF/Yr
      41,759 SF

      Provo Industrial Flex Space Available

      14,209 SF Flex Space in Provo, UT
      1825 East Bay Blvd, Provo, UT 84601
      View Details
    • Contact for pricing
      120,000 SF

      Modern Flex Space in Provo, Utah

      Brand new flex space, 5,000-120,000 SF available.
      3155 Center St, Provo, UT 84601
      View Details
    • $18 SF/Yr
      36,000 SF

      Lakeview Parkway Industrial Space

      Modern Provo Flex/Warehouse - 36,000 SF
      652 Lakeview Pkwy, Provo, UT 84601
      View Details
    • Contact for pricing
      14,674 SF

      Riverwoods Retail Space For Lease

      Provo, UT: Prime Retail Opportunity
      4801 University Ave, Provo, UT 84601
      View Details
    • $13 SF/Yr
      3,440 SF

      Provo Office Building: 3,440 SF

      Single-tenant office, updated in 2017.
      1881 820, Provo, UT 84601
      View Details

    FAQs

    What type of property is this?
    Strip mall - Inline retail space anchored by Walmart near BYU and UVU.
    Where is this strip mall located?
    The property is located at 2235 N University Pkwy Provo, UT.
    What are key features of this property?
    This property features: - Anchored by top-performing neighborhood Walmart; - Excellent parking with 5+ per 1,000 SF with head-in stalls; - Near BYU and UVU with 66,000 students combined
    (661) 948-2644
    Request Owner's contact information
    2235 N University Pkwy Provo, UT 84604
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2235 N University Pkwy
    Provo, UT 84604
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    2235 N University Pkwy Provo, UT 84604
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Cameron Simonsen
    Cameron Simonsen
    Real Estate License ID: UT5521671-SA00
    (661) 948-2644
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.