Corner Office
For Sale
Contact for pricing
5121 North Edgewood Drive, Provo, UT 84604
Commercially zoned office space with abundant daylight in a multi-business setting near shops and restaurants.
Property Size875 SF
Price / SF$399.89
Days on Market134
Property Features for 5121 North Edgewood Drive
General Information
Standard status
Active
Size
875 SF
Property subtype
Office, Retail
Zoning
Comm
Investment Type
Owner/User
Additional Details
Corner Location
Yes
Building Details
Year Built
2002
Stories
1
Tenancy
Multi
Listing Agency:
CENTURY 21 Everest
(801) 449-3000
Listed By:
Jason West · License #UT
Source:
Crexi
Added: Apr 21
Changed: Aug 30
Last Checked: Aug 30 at 6:42AM
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 CENTURY 21 Everest
Investment Insights
Based on property information with market context.
This corner office unit is located in a modern building completed in 2002 and benefits from strong natural light. The space is configured for office use within a versatile commercial setting, with neighboring businesses that include a bike shop, skin care boutique, and yoga studio.
The property is situated along tree-lined streets near shops and restaurants, providing a walkable setting for employees and visitors. Commercial zoning supports its office-oriented positioning within the building.
The property is situated along tree-lined streets near shops and restaurants, providing a walkable setting for employees and visitors. Commercial zoning supports its office-oriented positioning within the building.
Key Highlights
- Corner position delivers abundant natural light
- 875 property size as reported
- Commercial zoning designation: Comm
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
$11,068
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
3.16%
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%
$221,360
$221.4K
Cap Rate 7%
$158,114
$158.1K
Cap Rate 9%
$122,978
$123.0K
Market Conditions
NOI Build-Up for 875 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
$19.2K $21.96/SF
− Vacancy
−$4.5K −$5.09/SF
EGI
$14.8K $16.87/SF
− OpEx
−$3.7K −$4.22/SF
NOI
$11.1K $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%
$221,360
Cap Rate 7%
$158,114
Cap Rate 9%
$122,978
Alternative Uses
Best Use
Office B
$158.1K
$138.4K – $184.5K
NOI $11,068 @ 7.0% cap · market cap 3.16%
Second Best
Retail
$145.4K
$127.2K – $169.6K
NOI $10,176 @ 7.0% cap · market cap 2.91%
Theoretical Best
Office A
$241.3K
$211.2K – $281.6K
NOI $16,893 @ 7.0% cap · market cap 4.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
620
Businesses Nearby
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Commercially zoned office space with abundant daylight in a multi-business setting near shops and restaurants.
Where is this office units located?
The property is located at 5121 North Edgewood Drive Provo, UT.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Corner position delivers abundant natural light; 875 property size as reported; Commercial zoning designation: Comm
