Two-Story Office
2121 North 550 West Provo, UT 84604
New
2121 North 550 West, Provo, UT, 84604
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For Sale
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Two-story office building with fiber internet, 200 parking stalls, and a month-to-month leased unit.
Property Size50,120 SF
Lot Size2.50 Acres
Price / SF$247.41
Days on Market5
Property Features for 2121 North 550 West
General Information
- Standard status
- Active
- Size
- 50,120 SF
- Lot size
- 2.50 Acres
- Property subtype
- Office
Building Details
- Year Built
- 1984
Listing Agency
Commercial Real Estate Specialists
(801) 876-6070
Listed by
Derek Klopfer · License #UT 8013504-SA00
Source
Crexi
Added: Jul 17 Updated: Jul 20 at 2:40 am Checked: Jul 20 at 2:40 am
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Investment Insights
Based on property information with market context.
This two-story office building was built in 1984 and underwent a full building remodel in 2019. The property totals 50,120 square feet and includes a leased unit of 7,171 square feet, currently held month-to-month. The tenant, Internexus Provo, LLC, began its lease on January 1, 2021 and is requesting renewal, while the landlord has maintained the unit on a month-to-month basis for the benefit of a new buyer.
Parking is provided with 200 stalls, and fiber internet is available. The property is located on a 2.5-acre site and is zoned PUD (Parkway Village).
The offering includes an income component through the existing month-to-month tenancy, with flexibility for the buyer to either occupy or pursue a renewed lease relationship with the tenant.
Parking is provided with 200 stalls, and fiber internet is available. The property is located on a 2.5-acre site and is zoned PUD (Parkway Village).
The offering includes an income component through the existing month-to-month tenancy, with flexibility for the buyer to either occupy or pursue a renewed lease relationship with the tenant.
Key Highlights
- Two‑story office building built in 1984 with a full building remodel completed in 2019
- 50,120 SF building on a 2.5‑acre lot in PUD (Parkway Village)
- 200 parking stalls for tenant and visitor parking
Local Financial Insights For Office B
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 | $1.10M | $21.96 |
| − Vacancy | −$255.3k | −$5.09 |
| EGI | $845.3k | $16.87 |
| − OpEx | −$211.3k | −$4.22 |
| NOI | $634.0k | $12.65 |
50,120 SF · lease $21.96/SF/yr · vacancy 23.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$9.06M
$7.92M – $10.57M
NOI $633,966 @ 7.0% cap · market cap 5.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.82M
$12.10M – $16.13M
NOI $967,606 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office buildings
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FAQs
What type of property is this?
Office building - Two-story office building with fiber internet, 200 parking stalls, and a month-to-month leased unit.
Where is this office building located?
The property is located at 2121 North 550 West Provo, UT.
What is the asking price?
The asking price for this property is $12,400,000.
What are key features of this property?
This property features: Two‑story office building built in 1984 with a full building remodel completed in 2019; 50,120 SF building on a 2.5‑acre lot in PUD (Parkway Village); 200 parking stalls for tenant and visitor parking
