Renovated Mixed-Use Property For
For Sale
$3,000,000
72 N MAIN ST, Spanish Fork, UT 84660
Recently renovated mixed-use property suitable for retail or office use.
Property Size1,930 SF
Price / SF$265.96
Days on Market101
Property Features for 72 N MAIN ST
General Information
Standard status
Active
Size
1,930 SF
Property subtype
Retail
Building Details
Building Size
1,930 SF
Year Built
1930
Listing Agency:
Colliers International LLC (Wasatch)
(801) 666-4256
Listed By:
David Runnells
(801) 666-4256
Source:
Liftrealty
Added: May 20
Changed: Aug 28
Last Checked: Aug 28 at 12:23PM
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 International LLC (Wasatch)
Investment Insights
Based on property information with market context.
This mixed-use property, encompassing 11,280 square feet, is suitable for retail, office, or service-oriented businesses. The property features recently renovated interiors and an attractive storefront presence. It presents an owner-user opportunity with value-add potential. The location benefits from a strong daytime population.
Key Highlights
- Recently renovated interiors offer a fresh, modern feel.
- Attractive storefront presence to draw in customers.
- Strong daytime population nearby provides consistent foot traffic.
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
$188,807
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
6.29%
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%
$3,776,140
$3.8M
Cap Rate 7%
$2,697,243
$2.7M
Cap Rate 9%
$2,097,856
$2.1M
Market Conditions
NOI Build-Up for 11,280 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
$281.5K $24.96/SF
− Vacancy
−$11.8K −$1.05/SF
EGI
$269.7K $23.91/SF
− OpEx
−$80.9K −$7.17/SF
NOI
$188.8K $16.74/SF
Area
Utah County, UT
Vacancy
4.20%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
30.00%
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%
$3,776,140
Cap Rate 7%
$2,697,243
Cap Rate 9%
$2,097,856
Alternative Uses
Best Use
Retail
$2.70M
$2.36M – $3.15M
NOI $188,807 @ 7.0% cap · market cap 6.29%
Second Best
Office B
$2.26M
$1.98M – $2.64M
NOI $158,371 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$3.11M
$2.72M – $3.63M
NOI $217,659 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
781
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?
Retail space - Recently renovated mixed-use property suitable for retail or office use.
Where is this retail space located?
The property is located at 72 N MAIN ST Spanish Fork, UT.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Recently renovated interiors offer a fresh, modern feel.; Attractive storefront presence to draw in customers.; Strong daytime population nearby provides consistent foot traffic.
