Event Venue and Short-Term
2087 West Center Street Provo, UT 84601
2087 West Center Street, Provo, UT, 84601
Contact for pricing
For Sale
Contact for pricing
Turnkey venue property with a duplex and an active short-term rental barndominium, plus outdoor patio and 42 parking spaces.
Property Size5,256 SF
Lot Size1.15 Acres
Price / SF$380.52
Days on Market8
Property Features for 2087 West Center Street
General Information
- Standard status
- Active
- Size
- 5,256 SF
- Lot size
- 1.15 Acres
- Property subtype
- Mixed Use, Hospitality, Retail
Building Details
- Year Built
- 2005
Listing Agency
Berkshire Hathaway HomeServices Elite Corporate Real Estate Advisors
Listed by
Russ Berry · License #UT 5482928-AB00
Source
Crexi
Added: Jul 14 Updated: Jul 20 at 6:06 pm Checked: Jul 20 at 6:06 pm
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 Corporate Real Estate Advisors
Investment Insights
Based on property information with market context.
This turnkey property is built for flexible event and short-term rental use, combining two income-generating components with outdoor gathering space. The site includes a duplex with established income of $2,500 per month and a 3,328 SF barndominium currently operating as an active short-term rental. An expansive outdoor gathering and patio area supports events and entertainment, with ample space for guest parking and arrivals.
The property sits on 1.154 acres and is described as having commercial zoning. The listing also notes high visibility, excellent accessibility, and 42 on-site parking spaces, making the site practical for a range of commercial event-oriented concepts.
Overall, the configuration blends residential income (duplex) with an operating STR barndominium, while keeping the outdoor patio and event-ready areas central to the property’s day-to-day functionality.
The property sits on 1.154 acres and is described as having commercial zoning. The listing also notes high visibility, excellent accessibility, and 42 on-site parking spaces, making the site practical for a range of commercial event-oriented concepts.
Overall, the configuration blends residential income (duplex) with an operating STR barndominium, while keeping the outdoor patio and event-ready areas central to the property’s day-to-day functionality.
Key Highlights
- Event venue and short‑term rental property, built in 2005, on 1.154 acres in Provo, UT.
- Duplex with established income of $2,500/month.
- 3,328 SF barndominium currently operating as an active short‑term rental.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $85.1k | $16.20 |
| − Vacancy | −$4.2k | −$0.80 |
| EGI | $80.9k | $15.40 |
| − OpEx | −$24.3k | −$4.62 |
| NOI | $56.7k | $10.78 |
5,256 SF · lease $16.20/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$809.4K
$708.2K – $944.3K
NOI $56,659 @ 7.0% cap · market cap 2.83%
Second Best
Apartment 5plus
$742.3K
$649.5K – $866.0K
NOI $51,959 @ 7.0% cap · market cap 2.60%
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,471 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Short term rental ...
Similar For Sale Nearby
FAQs
What type of property is this?
Short term rental property - Turnkey venue property with a duplex and an active short-term rental barndominium, plus outdoor patio and 42 parking spaces.
Where is this short term rental property located?
The property is located at 2087 West Center Street Provo, UT.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Event venue and short‑term rental property, built in 2005, on 1.154 acres in Provo, UT.; Duplex with established income of $2,500/month.; 3,328 SF barndominium currently operating as an active short‑term rental.
