Turnkey Medical Office
For Sale
$1,496,100
255-320 River Park Dr, Provo, UT 84604
Turnkey suite with 10 exam rooms plus procedure and recovery space, ready for immediate medical occupancy.
Property Size4,987 SF
Price / SF$300
Days on Market120
Property Features for 255-320 River Park Dr
General Information
Standard status
Active
Size
4,987 SF
Listing Agency:
Align Complete Real Estate Services LLC
(801) 913-6157
Listed By:
Adam D Maack · License #6964037
(801) 913-6157
Source:
Exprealty
Added: Apr 13
Changed: Jul 10
Last Checked: Aug 10 at 7:39AM
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 Align Complete Real Estate Services LLC
Investment Insights
Based on property information with market context.
This turnkey medical office suite (Suite 255) is designed for efficient patient flow and immediate occupancy. The space totals 4,987 SF and is set up for clinical use with 10 exam rooms, a dedicated procedure room, a recovery room, and two consultation rooms. A central nurse station supports day-to-day operations and helps keep care teams organized throughout the suite.
The property is located at 255-320 River Park Dr in Provo, UT. Suite 255 offers a self-contained configuration tailored to medical practices that need both examination and post-procedure recovery areas.
With its exam-room layout and built-in support spaces, the suite is a practical fit for a range of medical specialties seeking an operational environment rather than a space needing extensive build-out. The former pain clinic use is reflected in the available exam rooms, procedure room, and recovery room, which can help support services where patient preparation, treatment, and monitored recovery are required. If you’re evaluating a move-in-ready clinical space with a defined workflow, this suite’s existing room mix should streamline planning for staffing and patient visits.
The property is located at 255-320 River Park Dr in Provo, UT. Suite 255 offers a self-contained configuration tailored to medical practices that need both examination and post-procedure recovery areas.
With its exam-room layout and built-in support spaces, the suite is a practical fit for a range of medical specialties seeking an operational environment rather than a space needing extensive build-out. The former pain clinic use is reflected in the available exam rooms, procedure room, and recovery room, which can help support services where patient preparation, treatment, and monitored recovery are required. If you’re evaluating a move-in-ready clinical space with a defined workflow, this suite’s existing room mix should streamline planning for staffing and patient visits.
Key Highlights
- Turnkey 4,987 SF medical office suite (Suite 255) designed for immediate occupancy
- Includes 10 exam rooms plus a dedicated procedure room
- Features recovery room, two consultation rooms, and a central nurse station
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
$68,337
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
4.57%
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%
$1,366,740
$1.4M
Cap Rate 7%
$976,243
$976.2K
Cap Rate 9%
$759,300
$759.3K
Market Conditions
NOI Build-Up for 4,987 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
$124.5K $24.96/SF
− Vacancy
−$10.6K −$2.12/SF
EGI
$113.9K $22.84/SF
− OpEx
−$45.6K −$9.14/SF
NOI
$68.3K $13.70/SF
Area
Provo, UT
Vacancy
8.50%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
40.00%
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%
$1,366,740
Cap Rate 7%
$976,243
Cap Rate 9%
$759,300
Alternative Uses
Best Use
Healthcare Medical
$976.2K
$854.2K – $1.14M
NOI $68,337 @ 7.0% cap · market cap 4.57%
Second Best
Office B
$901.1K
$788.5K – $1.05M
NOI $63,080 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$1.38M
$1.20M – $1.60M
NOI $96,278 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
635
Businesses Nearby
Under-served
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Turnkey suite with 10 exam rooms plus procedure and recovery space, ready for immediate medical occupancy.
Where is this medical office space located?
The property is located at 255-320 River Park Dr Provo, UT.
What is the asking price?
The asking price for this property is $1,496,100.
What are key features of this property?
This property features: Turnkey 4,987 SF medical office suite (Suite 255) designed for immediate occupancy; Includes 10 exam rooms plus a dedicated procedure room; Features recovery room, two consultation rooms, and a central nurse station
