Two-Level Office
1987 N 1120 W, Provo, UT 84604
For Sale
$849,000
Updated interiors include two bathrooms, a kitchenette, and a glass-partitioned conference room.
Property Size2,154 SF
Price / SF$394.15
Days on Market283
Property Features for 1987 N 1120 W
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Additional Details
Tenant in Place
Property Use
Taxes and HOA fees
Annual Taxes
Amenities
newer furnace and AC unit
two updated bathrooms
kitchenette with newer refrigerator
glass-walled conference rooms
large windows
roller shades
Alarm: Security
Basement
Cold Storage
Kitchen
Refrigerator
Restroom: Private
Video Door Bell(s)
Video Camera(s)
Building Details
Building Size
Year Built
Listing Agency:
Sky Realty
Listed By:
Gregory Bird
(801) 704-3445
Source:
Majestyrealestategroup
Added: Jan 31
Changed: Nov 9
Last Checked: Nov 9 at 2:58PM
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 Sky Realty
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Investment Insights
Based on property information with market context.
The 2,154-square-foot office property was built in 1997 and has renovated interiors arranged across upper and lower levels. The space can function as one office or be divided into two suites. Features include large windows with roller shades, a glass-walled conference room, two updated bathrooms, and a kitchenette with a newer refrigerator. A newer furnace and AC unit serve the property. One lower-level suite has its own entrance and bathroom.
The property is located at 1987 N 1120 W in Provo, Utah. Commercial zoning is in place.
The property is located at 1987 N 1120 W in Provo, Utah. Commercial zoning is in place.
Key Highlights
- 2,154 square feet of office space, built in 1997
- Configurable as one office or two separate suites
- Newer furnace and AC unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,246
Cap Rate
3.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$544,920
$544.9K
Cap Rate 7%
$389,229
$389.2K
Cap Rate 9%
$302,733
$302.7K
Market Conditions
NOI Build-Up for 2,154 SF
Gross rent
$47.3K $21.96/SF
− Vacancy
−$11.0K −$5.09/SF
EGI
$36.3K $16.87/SF
− OpEx
−$9.1K −$4.22/SF
NOI
$27.2K $12.65/SF
Area
Provo, UT
Vacancy
23.20%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$544,920
Cap Rate 7%
$389,229
Cap Rate 9%
$302,733
Alternative Uses
Best Use
Office B
$389.2K
$340.6K – $454.1K
NOI $27,246 @ 7.0% cap · market cap 3.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$594.1K
$519.8K – $693.1K
NOI $41,585 @ 7.0% cap · market cap 4.90%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,126
Businesses Nearby
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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
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Market
Properties on Market for Office Units in Provo
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office unit - Updated interiors include two bathrooms, a kitchenette, and a glass-partitioned conference room.
Where is this office unit located?
The property is located at 1987 N 1120 W Provo, UT.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: 2,154 square feet of office space, built in 1997; Configurable as one office or two separate suites; Newer furnace and AC unit
