Class A Professional Office
For Sale
Contact for pricing
233 S Pleasant Grove Blvd, Pleasant Grove, UT 84062
Two office suites with monument signage and quick access to the I-15/Pleasant Grove Blvd interchange are available for sale.
Property Size6,262 SF
Price / SF$285
Days on Market150
Property Features for 233 S Pleasant Grove Blvd
General Information
Standard status
Active
Size
6,262 SF
Class
A
Property subtype
OFFICE
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
Monument Signage Available
Listing Agency:
Colliers | Utah County
(801) 610-1300
Listed By:
Dan Donaldson
Source:
Moodyscre
Added: Apr 11
Changed: Aug 16
Last Checked: Aug 14 at 7:58AM
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 Class “A” professional office opportunity includes two suites configured for office use. The property is presented as a former attorney’s office, and monument signage is available. Suite 201 offers 1,876 SF, and Suite 202 offers 4,386 SF.
The location provides quick access to the I-15 and the Pleasant Grove Blvd interchange. A reported operating expense amount is $8.42 per SF.
Lease terms include an expiration date of December 2027, with availability noted for March 2026.
The location provides quick access to the I-15 and the Pleasant Grove Blvd interchange. A reported operating expense amount is $8.42 per SF.
Lease terms include an expiration date of December 2027, with availability noted for March 2026.
Key Highlights
- Class “A” professional office space in the heart of Pleasant Grove (former attorney’s office)
- Two suites available: Suite 201 (1,876 SF) and Suite 202 (4,386 SF)
- Monument signage available
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
$87,918
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
4.93%
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%
$1,758,360
$1.8M
Cap Rate 7%
$1,255,971
$1.3M
Cap Rate 9%
$976,867
$976.9K
Market Conditions
NOI Build-Up for 6,262 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
$150.3K $24.00/SF
− Vacancy
−$33.1K −$5.28/SF
EGI
$117.2K $18.72/SF
− OpEx
−$29.3K −$4.68/SF
NOI
$87.9K $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%
$1,758,360
Cap Rate 7%
$1,255,971
Cap Rate 9%
$976,867
Alternative Uses
Best Use
Office B
$1.26M
$1.10M – $1.47M
NOI $87,918 @ 7.0% cap · market cap 4.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.73M
$1.51M – $2.01M
NOI $120,832 @ 7.0% cap · market cap 6.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,151
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 - Two office suites with monument signage and quick access to the I-15/Pleasant Grove Blvd interchange are available for sale.
Where is this office units located?
The property is located at 233 S Pleasant Grove Blvd Pleasant Grove, UT.
What is the asking price?
The asking price for this property is $1,784,670.
What are key features of this property?
This property features: Class “A” professional office space in the heart of Pleasant Grove (former attorney’s office); Two suites available: Suite 201 (1,876 SF) and Suite 202 (4,386 SF); Monument signage available
