Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Provo Office Space Available Title is generated by Realmo AI

    1656 East Bay Boulevard, Provo, UT 84606

    View on Map
    Claim this Listing
    For Lease
    $18 SF/Yr $9,238/Mo (calc)

    Office suites available with I-15 access and mountain views.

    Type:Office
    Property size:
    6,159 SF
    Added:
    Nov 22, 2025
    Days on Market:
    188
    Last Refresh:
    May 19 at 10:40 pm

    Property Features for 1656 East Bay Boulevard

    General Information

    Standard status
    Active
    Size
    6,159 SF
    Property subtype
    Office

    We can help!

    Listing Contact
    Kreg Peterson

    Listing agent Kreg Peterson License #UT 5483446-SA00

    Listing office CBRE | Salt Lake City

    Listing date Nov 22, 2025

    Source Cbre

    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 CBRE | Salt Lake City

    HighLights

    • Superior access to I‑15 via University Ave
    • Available suites range from 4,557 SF – 174,856 SF
    • Backup generators in every building
    • Abundant parking available
    • 24‑hour security
    • Abundant natural light and magnificent mountain views

    Overview

    Office suites are available for rent, ranging in size from 4,557 to 174,856 square feet. The property provides access to I-15 via University Avenue. Each building features natural light and mountain views. Exterior building signage is available for qualified tenants. Backup generators are present in every building. The location provides access to the Provo-Orem area. The property includes walking paths and outdoor spaces for group activities. On-site property management and 24-hour security are provided. The Provo Towne Center Mall is located across the street. Abundant parking is available.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Provo
    County
    Utah
    State
    Utah
    Longitude
    -111.654
    Latitude
    40.2122

    Nearby Similar for Lease

    • $315,000 SF/Yr

      Versatile Office in Doctors Park

      Office space ideal for medical or professional use in Provo.
      777 N 500 W, Provo, UT 84601
      View Details
    • Sponsored
      $129-$3,890/Mo
      11-1,292 SF

      Downtown Provo

      180 University Ave, Unit 270, Provo, UT 84601
      View Details
    • Contact for pricing

      Retail Space on State Street

      Basement retail space with high visibility on State Street.
      1959 N STATE St, Provo, UT 84606
      View Details
    • $25 SF/Yr
      23,941 SF

      Class A Office Building

      Class A office building with freeway access and many amenities.
      1800 South Novell Place, Provo, UT, 84606
      View Details
    • $6,700/Mo
      6,700 SF

      Warehouse with Easy Freeway Access

      Warehouse space with ground level doors and convenient location.
      711 S University Ave, Provo, UT 84601
      View Details
    • $19 SF/Yr
      6,000 SF

      Well-Designed Office Space Available

      Modern office space with ample seating and collaborative workstations.
      5314 River Run Drive, Provo, UT, 84604
      View Details
    • Contact for pricing

      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
      15,000 SF

      Retail Space in Provo Towne

      Retail spaces available for lease in Provo Towne Centre.
      1200 Towne Centre Blvd, Provo, UT 84601
      View Details
    • Contact for pricing

      Remodeled Retail Space in Provo

      Newly remodeled retail space with modern design and great visibility.
      2255 N UNIVERSITY Pkwy, Provo, UT 84604
      View Details
    • $12 SF/Yr
      11,151 SF

      Office Space in Growing Utah

      Office space available in rapidly growing Utah location.
      1712 S E Bay Blvd, Provo, UT
      View Details
    • Contact for pricing
      174,856 SF

      Provo Office Space for Rent

      Office suites available with I-15 access and mountain views.
      122 East 1700 South, Provo, UT, 84606
      View Details
    • $18 SF/Yr
      77,877 SF

      Provo Office Space For Lease

      Office suites available with I-15 access and mountain views.
      198 East 1700 South, Provo, UT, 84606
      View Details

    FAQs

    What type of property is this?
    Office units - Office suites available with I-15 access and mountain views.
    Where is this office units located?
    The property is located at 1656 East Bay Boulevard Provo, UT.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: Superior access to I‑15 via University Ave; Available suites range from 4,557 SF – 174,856 SF; Backup generators in every building
    (801) 869-8092
    We can help!
    Listing Contact
    Kreg Peterson
    Real Estate License ID: UT 5483446-SA00
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    1656 East Bay Boulevard, Provo, UT, 84606
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!