Fully Equipped Urgent Care
For Sale
$1,185,000
120-320 River Park Dr, Provo, UT 84604
Move-in ready medical suite in Riverwoods Medical Center, suited for urgent care or multi-service healthcare programs.
Property Size3,952 SF
Price / SF$299.85
Days on Market120
Property Features for 120-320 River Park Dr
General Information
Standard status
Active
Size
3,952 SF
Additional Details
Business Included
Yes
Listing Agency:
Align Complete Real Estate Services LLC
(801) 913-6157
Listed By:
Adam D Maack · License #6964037
(801) 913-6157
Source:
Exprealty
Added: Apr 13
Changed: Jul 10
Last Checked: Aug 10 at 10:26AM
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 Align Complete Real Estate Services LLC
Investment Insights
Based on property information with market context.
Suite 120 at Riverwoods Medical Center offers a fully equipped, high-functioning medical environment with 3,952 SF of space. The layout is specifically described as thoughtfully designed for urgent care or multi-service medical use, and it has previously been occupied by an urgent care provider. As presented, the suite is being offered with immediate availability, supporting a faster path to opening or repositioning a healthcare practice.
The property is located at 120-320 River Park Dr in Provo, UT, within the Riverwoods Medical Center facility. Because the space is part of a dedicated medical center, it is positioned as an in-building option for organizations seeking a healthcare-oriented setting rather than a general office configuration.
For operators evaluating a clinic buildout, this suite’s prior urgent care use and “fully equipped” presentation can reduce the typical start-up friction associated with sourcing medical infrastructure. The space is also indicated as appropriate for multi-service healthcare concepts, making it a practical fit for providers looking for an existing, healthcare-specific tenant space within Riverwoods Medical Center.
The property is located at 120-320 River Park Dr in Provo, UT, within the Riverwoods Medical Center facility. Because the space is part of a dedicated medical center, it is positioned as an in-building option for organizations seeking a healthcare-oriented setting rather than a general office configuration.
For operators evaluating a clinic buildout, this suite’s prior urgent care use and “fully equipped” presentation can reduce the typical start-up friction associated with sourcing medical infrastructure. The space is also indicated as appropriate for multi-service healthcare concepts, making it a practical fit for providers looking for an existing, healthcare-specific tenant space within Riverwoods Medical Center.
Key Highlights
- Move‑in ready medical suite in Riverwoods Medical Center (suite 120)
- 3,952 SF fully equipped, high‑functioning medical space
- Previously occupied by an urgent care provider
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
$54,154
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
4.57%
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%
$1,083,080
$1.1M
Cap Rate 7%
$773,629
$773.6K
Cap Rate 9%
$601,711
$601.7K
Market Conditions
NOI Build-Up for 3,952 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
$98.6K $24.96/SF
− Vacancy
−$8.4K −$2.12/SF
EGI
$90.3K $22.84/SF
− OpEx
−$36.1K −$9.14/SF
NOI
$54.2K $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%
$1,083,080
Cap Rate 7%
$773,629
Cap Rate 9%
$601,711
Alternative Uses
Best Use
Healthcare Medical
$773.6K
$676.9K – $902.6K
NOI $54,154 @ 7.0% cap · market cap 4.57%
Second Best
Office B
$714.1K
$624.9K – $833.2K
NOI $49,989 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$1.09M
$953.7K – $1.27M
NOI $76,296 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
620
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 - Move-in ready medical suite in Riverwoods Medical Center, suited for urgent care or multi-service healthcare programs.
Where is this medical office space located?
The property is located at 120-320 River Park Dr Provo, UT.
What is the asking price?
The asking price for this property is $1,185,000.
What are key features of this property?
This property features: Move‑in ready medical suite in Riverwoods Medical Center (suite 120); 3,952 SF fully equipped, high‑functioning medical space; Previously occupied by an urgent care provider
