Multi-Tenant Office Building with Parking
For Sale
Contact for pricing
3210 N Canyon Road, Provo, UT 84604
Fully leased office building with underground garage, surface parking, and 24/7 keycard access.
Property Size26,743 SF
Price / SF$177.62
Days on Market43
Property Features for 3210 N Canyon Road
General Information
Standard status
Active
Size
26,743 SF
Class
C
Property subtype
Office
Occupancy
100%
Investment Type
Stabilized
Amenities
24/7 keycard access
Google Fiber
Comcast
Building Details
Buildings
1
Tenancy
Multi
Parking Ratio
5.5 per 1,000 SF
Listing Agency:
Colliers - Pleasant Grove - Utah County, Utah
Listed By:
JD Brisk · License #10407559-SA00
(801) 666-5776
Source:
Crexi
Added: Jul 30
Changed: Sep 9
Last Checked: Sep 9 at 6:26AM
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 - Pleasant Grove - Utah County, Utah
Investment Insights
Based on property information with market context.
The Sawtooth Building is a fully leased, multi-tenant office property offering 100% occupancy with multiple suites. The building’s parking setup includes an underground garage, surface parking on the east side, and additional street parking, supported by a 5.5/1,000 parking ratio.
Located at 3210 North Canyon Road in Provo, the property places tenants near everyday amenities, including BYU, local restaurants, and Day’s Market. Building access is available 24/7 via keycard.
Tenant connectivity options include availability of Google Fiber and Comcast, supporting modern office needs in an established office setting along North Canyon Road.
Located at 3210 North Canyon Road in Provo, the property places tenants near everyday amenities, including BYU, local restaurants, and Day’s Market. Building access is available 24/7 via keycard.
Tenant connectivity options include availability of Google Fiber and Comcast, supporting modern office needs in an established office setting along North Canyon Road.
Key Highlights
- 100% occupancy with a fully leased, multi‑tenant office setup
- 5.5/1,000 parking ratio plus underground garage parking
- Surface parking on the east side of the building
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
$338,271
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
7.12%
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%
$6,765,420
$6.8M
Cap Rate 7%
$4,832,443
$4.8M
Cap Rate 9%
$3,758,567
$3.8M
Market Conditions
NOI Build-Up for 26,743 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
$587.3K $21.96/SF
− Vacancy
−$136.2K −$5.09/SF
EGI
$451.0K $16.87/SF
− OpEx
−$112.8K −$4.22/SF
NOI
$338.3K $12.65/SF
Area
Provo, UT
Vacancy
23.20%
Lease Rate
$21.96 /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%
$6,765,420
Cap Rate 7%
$4,832,443
Cap Rate 9%
$3,758,567
Alternative Uses
Best Use
Office B
$4.83M
$4.23M – $5.64M
NOI $338,271 @ 7.0% cap · market cap 7.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.38M
$6.45M – $8.60M
NOI $516,295 @ 7.0% cap · market cap 10.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
948
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Fully leased office building with underground garage, surface parking, and 24/7 keycard access.
Where is this office building located?
The property is located at 3210 N Canyon Road Provo, UT.
What is the asking price?
The asking price for this property is $4,750,000.
What are key features of this property?
This property features: 100% occupancy with a fully leased, multi‑tenant office setup; 5.5/1,000 parking ratio plus underground garage parking; Surface parking on the east side of the building
