Multi-Level Office
For Sale
Contact for pricing
391 N Main St, Spanish Fork, UT 84660
Configured with private offices, reception space, a breakroom, and restrooms serving each level.
Property Size4,459 SF
Price / SF$269.12
Days on Market200
Property Features for 391 N Main St
General Information
Standard status
Active
Size
4,459 SF
Class
B
Property subtype
Office
Zoning
GC
Building Details
Year Built
2005
Buildings
1
Stories
3
Listing Agency:
Colliers - Pleasant Grove - Utah County, Utah
(801) 702-4686
Listed By:
Justin Irvine · License #6425066-AB00
Source:
Crexi
Added: Feb 13
Changed: Aug 29
Last Checked: Aug 29 at 3:12PM
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.
This office suite provides 4,459 square feet across three levels, with 1,397 square feet on the main level and 1,531 square feet on both the upper and lower levels. The layout includes 10 private offices, a reception area, a breakroom, and one private restroom on each floor. Built in 2005, the property is zoned GC.
The suite is located on North Main Street in Spanish Fork, Utah, providing a defined office setting within the city. Its multi-level configuration and existing interior arrangement offer a substantial commercial office footprint with dedicated rooms and shared support areas.
The suite is located on North Main Street in Spanish Fork, Utah, providing a defined office setting within the city. Its multi-level configuration and existing interior arrangement offer a substantial commercial office footprint with dedicated rooms and shared support areas.
Key Highlights
- 4,459 SF office suite arranged across three levels
- 10 private offices plus reception and breakroom areas
- 1,397 SF main level; 1,531 SF upper and lower levels
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
$62,604
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
5.22%
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%
$1,252,080
$1.3M
Cap Rate 7%
$894,343
$894.3K
Cap Rate 9%
$695,600
$695.6K
Market Conditions
NOI Build-Up for 4,459 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
$107.0K $24.00/SF
− Vacancy
−$23.5K −$5.28/SF
EGI
$83.5K $18.72/SF
− OpEx
−$20.9K −$4.68/SF
NOI
$62.6K $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%
$1,252,080
Cap Rate 7%
$894,343
Cap Rate 9%
$695,600
Alternative Uses
Best Use
Office B
$894.3K
$782.6K – $1.04M
NOI $62,604 @ 7.0% cap · market cap 5.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.23M
$1.08M – $1.43M
NOI $86,041 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,050
Businesses Nearby
Explore this area
Business Placement
Demographics for 84660, UT
45,959
Population
13,162
Households
3.5
Avg Household Size
28
Median Age
38%
College-Educated
94%
High-School Grad
362.2 sq mi
ZIP Area
127
Density / Sq Mi
$98,398
Median Household Income
$40,509
Median Earnings
$1,393
Median Rent
$452,100
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 - Configured with private offices, reception space, a breakroom, and restrooms serving each level.
Where is this office units located?
The property is located at 391 N Main St Spanish Fork, UT.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 4,459 SF office suite arranged across three levels; 10 private offices plus reception and breakroom areas; 1,397 SF main level; 1,531 SF upper and lower levels
