Drug Store Retail
For Sale
$1,750,000
286 W CENTER ST, Provo, UT 84601
For sale drug store retail property in Provo, positioned for continued neighborhood convenience use.
Property Size5,460 SF
Days on Market131
Property Features for 286 W CENTER ST
General Information
Standard status
Active
Size
5,460 SF
Taxes and HOA fees
Annual Taxes
$10,753
Building Details
Building Size
5,460 SF
Year Built
1916
Listing Agency:
(801) 400-2403
Listed By:
Rodd E Jefferies
(801) 400-2403
Source:
Evrealestate
Added: Apr 24
Changed: Aug 7
Last Checked: Aug 31 at 12:42PM
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 Rodd E Jefferies
Investment Insights
Based on property information with market context.
This for-sale drug store retail property offers a straightforward retail format intended for ongoing pharmacy and convenience shopping. As a dedicated drug store asset, it can serve established operators looking for a retail location to maintain customer access and everyday service.
The property is located at 286 W Center St in Provo, Utah. Its street address provides direct, street-level presence within the local commercial environment, supporting retail visibility and customer approachability.
From an operator or investor standpoint, this asset aligns best with buyers seeking a retail-focused drug store platform rather than a flexible, multi-tenant concept. The property’s use as a drug store retail location may appeal to parties looking to deploy capital in a specialized retail offering or to continue an existing neighborhood retail service strategy in Provo.
The property is located at 286 W Center St in Provo, Utah. Its street address provides direct, street-level presence within the local commercial environment, supporting retail visibility and customer approachability.
From an operator or investor standpoint, this asset aligns best with buyers seeking a retail-focused drug store platform rather than a flexible, multi-tenant concept. The property’s use as a drug store retail location may appeal to parties looking to deploy capital in a specialized retail offering or to continue an existing neighborhood retail service strategy in Provo.
Key Highlights
- Drug store retail property in Provo
- Year built: 1916
- No heating and no cooling listed
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
$75,700
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
4.33%
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%
$1,514,000
$1.5M
Cap Rate 7%
$1,081,429
$1.1M
Cap Rate 9%
$841,111
$841.1K
Market Conditions
NOI Build-Up for 5,460 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
$103.5K $18.96/SF
− Vacancy
−$2.6K −$0.47/SF
EGI
$100.9K $18.49/SF
− OpEx
−$25.2K −$4.62/SF
NOI
$75.7K $13.86/SF
Area
Provo, UT
Vacancy
2.50%
Lease Rate
$18.96 /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%
$1,514,000
Cap Rate 7%
$1,081,429
Cap Rate 9%
$841,111
Alternative Uses
Best Use
Specialty Retail
$1.08M
$946.3K – $1.26M
NOI $75,700 @ 7.0% cap · market cap 4.33%
Second Best
Retail
$907.1K
$793.7K – $1.06M
NOI $63,499 @ 7.0% cap · market cap 3.63%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,410 @ 7.0% cap · market cap 6.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,464
Businesses Nearby
147k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 66%
Shops & Services 22%
Dining 5%
Beauty & Spa 5%
Smith's
Groceries
71,166 visits/mo
0.3 miles
Fresh Market Stores
Groceries
20,827 visits/mo
0.3 miles
7-Eleven
Shops & Services
11,299 visits/mo
0.5 miles
Smith's Fuel Center
Shops & Services
9,687 visits/mo
0.2 miles
Drybar
Beauty & Spa
6,662 visits/mo
0.1 miles
Demographics for 84601, UT
33,986
Population
11,673
Households
2.9
Avg Household Size
27
Median Age
33%
College-Educated
86%
High-School Grad
13.3 sq mi
ZIP Area
2,555
Density / Sq Mi
$64,758
Median Household Income
$30,548
Median Earnings
$1,173
Median Rent
$370,300
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Intermountain Supplements — 701 S 100 E, Provo, UT 84606
- Forte Elements — 522 S 100 W St, Provo, UT 84601
- DeAnn Cole, RPh — 560 W Center St, Provo, UT 84601
- Fresh Market Provo Pharmacy — 560 W Center St, Provo, UT 84601
- Paul Thompson — 560 W Center St, Provo, UT 846014276
Frequently Asked Questions
What type of property is this?
Drug store - For sale drug store retail property in Provo, positioned for continued neighborhood convenience use.
Where is this drug store located?
The property is located at 286 W CENTER ST Provo, UT.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Drug store retail property in Provo; Year built: 1916; No heating and no cooling listed
