Class A Professional Office
For Sale
Contact for pricing
233 S Pleasant Grove Blvd, Pleasant Grove, UT 84062
Two Class A office suites are available with monument signage and quick access to the I-15/Pleasant Grove Blvd interchange.
Property Size1,876 SF
Price / SF$285
Days on Market156
Property Features for 233 S Pleasant Grove Blvd
General Information
Standard status
Active
Size
1,876 SF
Class
A
Property subtype
OFFICE
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
monument signage
Listing Agency:
Colliers | Utah County
(801) 610-1300
Listed By:
Dan Donaldson
Source:
Moodyscre
Added: Apr 11
Changed: Sep 4
Last Checked: Sep 12 at 11:48AM
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 offering presents a Class “A” professional office opportunity in Pleasant Grove, previously used as an attorney’s office. Monument signage is available, and the property features dedicated suite spaces for office use.
Suite 201 is 1,876 square feet, with a lease expiration of December 2027. Suite 202 is 4,386 square feet and is available beginning March 2026.
The location provides quick access to the I-15/Pleasant Grove Blvd interchange, supporting convenient regional connectivity for office tenants and clients.
Suite 201 is 1,876 square feet, with a lease expiration of December 2027. Suite 202 is 4,386 square feet and is available beginning March 2026.
The location provides quick access to the I-15/Pleasant Grove Blvd interchange, supporting convenient regional connectivity for office tenants and clients.
Key Highlights
- Two Class A office suites available in Pleasant Grove
- Suite 201: 1,876 SF for $534,660; lease expiration December 2027
- Suite 202: 4,386 SF for $1,250,010; available March 2026
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
$26,339
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%
$526,780
$526.8K
Cap Rate 7%
$376,271
$376.3K
Cap Rate 9%
$292,656
$292.7K
Market Conditions
NOI Build-Up for 1,876 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
$45.0K $24.00/SF
− Vacancy
−$9.9K −$5.28/SF
EGI
$35.1K $18.72/SF
− OpEx
−$8.8K −$4.68/SF
NOI
$26.3K $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%
$526,780
Cap Rate 7%
$376,271
Cap Rate 9%
$292,656
Alternative Uses
Best Use
Office B
$376.3K
$329.2K – $439.0K
NOI $26,339 @ 7.0% cap · market cap 4.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$517.1K
$452.5K – $603.3K
NOI $36,199 @ 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 Class A office suites are available with monument signage and quick access to the I-15/Pleasant Grove Blvd interchange.
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 $534,660.
What are key features of this property?
This property features: Two Class A office suites available in Pleasant Grove; Suite 201: 1,876 SF for $534,660; lease expiration December 2027; Suite 202: 4,386 SF for $1,250,010; available March 2026
