Renovated Main Street
For Sale
$545,000
511 S Main St, Springville, UT 84663
Commercially zoned space supports retail, office, and professional-service uses with accessible entry and abundant daylight.
Property Size1,628 SF
Price / SF$334.77
Days on Market28
Property Features for 511 S Main St
General Information
Standard status
Active
Size
1,628 SF
Amenities
high ceilings
central heat and air
handicap accessibility
abundant natural light
Building Details
Year Built
1920
Year Renovated
2022
Listing Agency:
Berkshire Hathaway HomeServices Elite Real Estate
(801) 310-6805
Listed By:
Peggy Case
Source:
Redsign
Added: Aug 2
Changed: Aug 28
Last Checked: Aug 28 at 8:01PM
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 Berkshire Hathaway HomeServices Elite Real Estate
Investment Insights
Based on property information with market context.
Built in 1920 and renovated in 2022, this 1,628-square-foot storefront combines a traditional commercial setting with updated functionality. The interior includes high ceilings, central heating and air conditioning, abundant natural light, and handicap accessibility. Commercial zoning supports retail, office, and professional-service uses.
The property is located at 511 S Main St in Springville, Utah, placing the space directly on Main Street. Its visible storefront configuration and established street presence provide a practical setting for businesses seeking customer-facing or professional office space.
The property is located at 511 S Main St in Springville, Utah, placing the space directly on Main Street. Its visible storefront configuration and established street presence provide a practical setting for businesses seeking customer-facing or professional office space.
Key Highlights
- 1,628‑square‑foot storefront at 511 S Main St, Springville, UT 84663
- Built in 1920 and renovated in 2022
- Commercial zoning supports retail, office, and professional‑service uses
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
$27,250
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
5.00%
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%
$545,000
$545.0K
Cap Rate 7%
$389,286
$389.3K
Cap Rate 9%
$302,778
$302.8K
Market Conditions
NOI Build-Up for 1,628 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
$40.6K $24.96/SF
− Vacancy
−$1.7K −$1.05/SF
EGI
$38.9K $23.91/SF
− OpEx
−$11.7K −$7.17/SF
NOI
$27.2K $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 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%
$545,000
Cap Rate 7%
$389,286
Cap Rate 9%
$302,778
Alternative Uses
Best Use
Retail
$389.3K
$340.6K – $454.2K
NOI $27,250 @ 7.0% cap · market cap 5.00%
Second Best
Office B
$326.5K
$285.7K – $381.0K
NOI $22,857 @ 7.0% cap · market cap 4.19%
Theoretical Best
Office A
$448.8K
$392.7K – $523.6K
NOI $31,414 @ 7.0% cap · market cap 5.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
152
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 84663, UT
35,647
Population
11,025
Households
3.2
Avg Household Size
29
Median Age
39%
College-Educated
95%
High-School Grad
109.7 sq mi
ZIP Area
325
Density / Sq Mi
$88,919
Median Household Income
$39,439
Median Earnings
$1,475
Median Rent
$430,600
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.
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Frequently Asked Questions
What type of property is this?
Storefront property - Commercially zoned space supports retail, office, and professional-service uses with accessible entry and abundant daylight.
Where is this storefront property located?
The property is located at 511 S Main St Springville, UT.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: 1,628‑square‑foot storefront at 511 S Main St, Springville, UT 84663; Built in 1920 and renovated in 2022; Commercial zoning supports retail, office, and professional‑service uses
