Two-Building Office
For Sale
Contact for pricing
5152 N Edgewood Dr, Provo, UT 84604
Office portfolio near The Shops at Riverwoods with access to BYU, UVU, and I-15.
Property Size119,977 SF
Price / SF$168.16
Days on Market582
Property Features for 5152 N Edgewood Dr
General Information
Standard status
Active
Size
119,977 SF
Property subtype
OFFICE
Listing Agency:
Colliers | Salt Lake City Millrock
(801) 947-8328
Listed By:
John Monson · License #5477023-SA00
(801) 915-0122
Source:
Moodyscre
Added: Jan 27, 2025
Changed: Aug 30
Last Checked: Aug 31 at 3:03PM
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 | Salt Lake City Millrock
Investment Insights
Based on property information with market context.
The Riverwoods portfolio comprises two office buildings totaling 119,977 RSF at 5152 N Edgewood Dr in Provo, Utah. The property is occupied by tenants representing government, healthcare, financial services, renewable energy, construction, and professional services. Long-term leases provide established occupancy arrangements across a diversified tenant roster.
The buildings sit at the mouth of Provo Canyon and immediately next to The Shops at Riverwoods, placing office users near a mixed-use setting with walkable amenities. Regional access includes Brigham Young University, Utah Valley University, and I-15, connecting the property with major educational institutions and transportation routes.
The buildings sit at the mouth of Provo Canyon and immediately next to The Shops at Riverwoods, placing office users near a mixed-use setting with walkable amenities. Regional access includes Brigham Young University, Utah Valley University, and I-15, connecting the property with major educational institutions and transportation routes.
Key Highlights
- 119,977 RSF across two office buildings
- Tenant base includes government, healthcare, financial services, renewable energy, construction, and professional services
- Long‑term leases across a diversified tenant roster
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
$1,517,584
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
7.52%
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%
$30,351,680
$30.4M
Cap Rate 7%
$21,679,771
$21.7M
Cap Rate 9%
$16,862,044
$16.9M
Market Conditions
NOI Build-Up for 119,977 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
$2.63M $21.96/SF
− Vacancy
−$611.2K −$5.09/SF
EGI
$2.02M $16.87/SF
− OpEx
−$505.9K −$4.22/SF
NOI
$1.52M $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%
$30,351,680
Cap Rate 7%
$21,679,771
Cap Rate 9%
$16,862,044
Alternative Uses
Best Use
Office B
$21.68M
$18.97M – $25.29M
NOI $1,517,584 @ 7.0% cap · market cap 7.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$33.09M
$28.95M – $38.60M
NOI $2,316,251 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
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Frequently Asked Questions
What type of property is this?
Office building - Office portfolio near The Shops at Riverwoods with access to BYU, UVU, and I-15.
Where is this office building located?
The property is located at 5152 N Edgewood Dr Provo, UT.
What is the asking price?
The asking price for this property is $20,175,000.
What are key features of this property?
This property features: 119,977 RSF across two office buildings; Tenant base includes government, healthcare, financial services, renewable energy, construction, and professional services; Long‑term leases across a diversified tenant roster
