Office Suite with Conference
For Sale
Contact for pricing
1955 W Grove Pkwy, Pleasant Grove, UT 84062
Office suite featuring a reception area, conference room, and four offices with immediate access off I-15.
Property Size2,279 SF
Price / SF$347.08
Days on Market237
Property Features for 1955 W Grove Pkwy
General Information
Standard status
Active
Size
2,279 SF
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Listing Agency:
Colliers | Utah County
(801) 610-1300
Listed By:
Spencer Croshaw · License #5489240-SA00
(801) 702-4689
Source:
Moodyscre
Added: Jan 16
Changed: Aug 10
Last Checked: Sep 9 at 3:55PM
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 | Utah County
Investment Insights
Based on property information with market context.
This office suite offers 2,279 rentable square feet configured with a reception area, a conference room, four offices, and a training/cubicle area. The space is suited for a range of office operations requiring both private work areas and shared meeting space.
The property provides immediate access off I-15 and is surrounded by abundant nearby amenities, including dining, retail, and professional services.
Offered for sale, this is a straightforward office setup for buyers seeking an interior suite layout that includes dedicated rooms for meetings and focused work.
The property provides immediate access off I-15 and is surrounded by abundant nearby amenities, including dining, retail, and professional services.
Offered for sale, this is a straightforward office setup for buyers seeking an interior suite layout that includes dedicated rooms for meetings and focused work.
Key Highlights
- 2,279 rentable SF office suite
- Reception area plus conference room
- Four offices and a training/cubicle area
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
$31,997
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
4.05%
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%
$639,940
$639.9K
Cap Rate 7%
$457,100
$457.1K
Cap Rate 9%
$355,522
$355.5K
Market Conditions
NOI Build-Up for 2,279 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
$54.7K $24.00/SF
− Vacancy
−$12.0K −$5.28/SF
EGI
$42.7K $18.72/SF
− OpEx
−$10.7K −$4.68/SF
NOI
$32.0K $14.04/SF
Area
Utah County, UT
Vacancy
22.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$639,940
Cap Rate 7%
$457,100
Cap Rate 9%
$355,522
Alternative Uses
Best Use
Office B
$457.1K
$400.0K – $533.3K
NOI $31,997 @ 7.0% cap · market cap 4.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$628.2K
$549.7K – $732.9K
NOI $43,976 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
795
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office suite featuring a reception area, conference room, and four offices with immediate access off I-15.
Where is this office units located?
The property is located at 1955 W Grove Pkwy Pleasant Grove, UT.
What is the asking price?
The asking price for this property is $791,000.
What are key features of this property?
This property features: 2,279 rentable SF office suite; Reception area plus conference room; Four offices and a training/cubicle area
