Upscale Commercial Campus
For Sale
$24,900,000
1199 W 700 S, Pleasant Grove, UT 84062
Strategically located office/warehouse property with mountain views.
Property Size98,520 SF
Price / SF$234.91
Days on Market209
Property Features for 1199 W 700 S
General Information
Standard status
Active
Size
98,520 SF
Zoning
BMP
Taxes and HOA fees
Annual Taxes
$143,000
Building Details
Building Size
98,520 SF
Year Built
1998
Listing Agency:
Colliers International LLC (Wasatch)
Listed By:
Eric S Larsen · License #5722129-SA00
(801) 380-2264
Source:
Evrealestate
Added: Mar 26
Changed: Aug 25
Last Checked: Oct 7 at 5:01PM
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 Colliers International LLC (Wasatch)
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Investment Insights
Based on property information with market context.
This unique purchase opportunity features an established upscale commercial campus headquarters located just off the Pleasant Grove I-15 Interchange (Exit 275), providing ideal access, visibility, and opportunity. The property is in close proximity to numerous new restaurants and hospitality amenities. This is a rare opportunity to acquire one of the most strategically located office/warehouse properties in Utah, with a stunning unobstructed mountain backdrop. The property size is 106000 square feet. The property is suitable for mixed-use, warehouse, industrial, office, and retail purposes.
Key Highlights
- Strategically located office/warehouse property in Utah.
- Ideal access and visibility due to proximity to I‑15 (Exit 275).
- Close proximity to new restaurants and hospitality amenities.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,774,247
Cap Rate
7.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$35,484,940
$35.5M
Cap Rate 7%
$25,346,386
$25.3M
Cap Rate 9%
$19,713,856
$19.7M
Market Conditions
NOI Build-Up for 106,000 SF
Gross rent
$2.65M $24.96/SF
− Vacancy
−$111.1K −$1.05/SF
EGI
$2.53M $23.91/SF
− OpEx
−$760.4K −$7.17/SF
NOI
$1.77M $16.74/SF
Area
Utah County, UT
Vacancy
4.20%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$35,484,940
Cap Rate 7%
$25,346,386
Cap Rate 9%
$19,713,856
Alternative Uses
Best Use
Retail
$25.35M
$22.18M – $29.57M
NOI $1,774,247 @ 7.0% cap · market cap 7.13%
Second Best
Office B
$21.26M
$18.60M – $24.80M
NOI $1,488,240 @ 7.0% cap · market cap 5.98%
Theoretical Best
Office A
$29.22M
$25.57M – $34.09M
NOI $2,045,376 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
797
Businesses Nearby
Explore this area
Business Placement
Demographics for 84062, UT
47,771
Population
14,649
Households
3.3
Avg Household Size
28
Median Age
43%
College-Educated
96%
High-School Grad
50.7 sq mi
ZIP Area
942
Density / Sq Mi
$101,584
Median Household Income
$41,079
Median Earnings
$1,617
Median Rent
$479,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Strategically located office/warehouse property with mountain views.
Where is this mixed-use property located?
The property is located at 1199 W 700 S Pleasant Grove, UT.
What is the asking price?
The asking price for this property is $24,900,000.
What are key features of this property?
This property features: Strategically located office/warehouse property in Utah.; Ideal access and visibility due to proximity to I‑15 (Exit 275).; Close proximity to new restaurants and hospitality amenities.
