Class A Office
For Sale
Contact for pricing
5255 North Edgewood Drive, Provo, UT 84604
Premier office space in Provo with flexible options.
Property Size65,217 SF
Price / SF$275
Days on Market84
Property Features for 5255 North Edgewood Drive
General Information
Standard status
Active
Size
65,217 SF
Class
A
Property subtype
Office
Zoning
RBP
Lease Type
Gross
Building Details
Year Built
2001
Buildings
1
Units
13
Tenancy
Multi
Listing Agency:
Summit Commercial Advisors
(801) 687-0094
Listed By:
Cody Black · License #6026252-SA00
Source:
Crexi
Added: May 20
Changed: Aug 8
Last Checked: Aug 8 at 7:05AM
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 Summit Commercial Advisors
Investment Insights
Based on property information with market context.
This Class A office space is located in Provo. The property offers flexible availability, ranging from 1,542 SF up to 65,217 SF. Purchase options range from $5,628,975 up to $17,934,675 ($295 PSF). Full-floor opportunities include 20,469 RSF on the first floor, 21,290 RSF on the second floor, and 22,762 RSF on the third floor. The building features a state-of-the-art fiber optic network and 40 underground parking stalls with additional storage. It also offers views of Mount Timpanogos. The property is situated near the Shops at Riverwoods and various dining options, with direct access to the Provo River Trail along the Provo River. It has convenient access off University Avenue and is close to Canyon Parkway and I-15. The location is 10 miles from Sundance Mountain Resort and 9 miles from Provo Airport.
Key Highlights
- Premier Class “A” office space in a highly sought‑after Provo location.
- Flexible availability from 1,542 SF up to 65,217 SF.
- Attractive full‑service lease rates of $24.50 PSF.
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
$824,927
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
4.60%
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%
$16,498,540
$16.5M
Cap Rate 7%
$11,784,671
$11.8M
Cap Rate 9%
$9,165,856
$9.2M
Market Conditions
NOI Build-Up for 65,217 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
$1.43M $21.96/SF
− Vacancy
−$332.3K −$5.09/SF
EGI
$1.10M $16.87/SF
− OpEx
−$275.0K −$4.22/SF
NOI
$824.9K $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%
$16,498,540
Cap Rate 7%
$11,784,671
Cap Rate 9%
$9,165,856
Alternative Uses
Best Use
Office B
$11.78M
$10.31M – $13.75M
NOI $824,927 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$17.99M
$15.74M – $20.98M
NOI $1,259,066 @ 7.0% cap · market cap 7.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
571
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 - Premier office space in Provo with flexible options.
Where is this office building located?
The property is located at 5255 North Edgewood Drive Provo, UT.
What is the asking price?
The asking price for this property is $17,934,675.
What are key features of this property?
This property features: Premier Class “A” office space in a highly sought‑after Provo location.; Flexible availability from 1,542 SF up to 65,217 SF.; Attractive full‑service lease rates of $24.50 PSF.
