Multifamily
New
For Sale
$534,600
696 W 1800 N, Provo, UT 84601
This multifamily asset dates to 1977 and is offered in AS-IS condition.
Property Size2,352 SF
Price / SF$227.30
Days on Market2
Property Features for 696 W 1800 N
General Information
Standard status
Active
Size
2,352 SF
Property subtype
Multi-Family
Building Details
Year Built
1977
Listing Agency:
Summit Commercial Advisors LLC
Listed By:
Mary W Street · License #5454081-PO00
(801) 358-6279
Source:
Buysalty
Added: Sep 13
Last Checked: Sep 13 at 2:55PM
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 LLC
Investment Insights
Based on property information with market context.
This multifamily property at 696 W 1800 N in Provo comprises 2,352 square feet and was built in 1977. The asset is being offered in AS-IS condition, with no obligation for the seller to complete changes or repairs before closing.
The property has been owned and managed for many years by the Provo City Housing Authority. Tenants require notice, and showings are limited to the specified scheduled timeframes through advance coordination with the listing agent.
The property has been owned and managed for many years by the Provo City Housing Authority. Tenants require notice, and showings are limited to the specified scheduled timeframes through advance coordination with the listing agent.
Key Highlights
- 2,352‑square‑foot multifamily property
- Built in 1977
- Offered in AS‑IS condition
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
$23,251
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
4.35%
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%
$465,020
$465.0K
Cap Rate 7%
$332,157
$332.2K
Cap Rate 9%
$258,344
$258.3K
Market Conditions
NOI Build-Up for 2,352 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
$44.6K $18.96/SF
− Vacancy
−$2.3K −$0.99/SF
EGI
$42.3K $17.97/SF
− OpEx
−$19.0K −$8.09/SF
NOI
$23.3K $9.89/SF
Area
Provo, UT
Vacancy
5.20%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
45.00%
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%
$465,020
Cap Rate 7%
$332,157
Cap Rate 9%
$258,344
Alternative Uses
Best Use
Apartment 5plus
$332.2K
$290.6K – $387.5K
NOI $23,251 @ 7.0% cap · market cap 4.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$648.7K
$567.6K – $756.8K
NOI $45,407 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,562
Businesses Nearby
Explore this area
Business Placement
Demographics for 84601, UT
33,986
Population
11,673
Households
2.9
Avg Household Size
27
Median Age
33%
College-Educated
86%
High-School Grad
13.3 sq mi
ZIP Area
2,555
Density / Sq Mi
$64,758
Median Household Income
$30,548
Median Earnings
$1,173
Median Rent
$370,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - This multifamily asset dates to 1977 and is offered in AS-IS condition.
Where is this multifamily property located?
The property is located at 696 W 1800 N Provo, UT.
What is the asking price?
The asking price for this property is $534,600.
What are key features of this property?
This property features: 2,352‑square‑foot multifamily property; Built in 1977; Offered in AS‑IS condition
