Flex and Warehouse
For Sale
Contact for pricing
723 Columbia Ln, Provo, UT 84604
1987-built warehouse flex space with 11'10'' clear height and a 10' x 10' grade-level door, available January 2026.
Property Size6,996 SF
Lot Size0.40 Acres
Price / SF$225
Days on Market75
Property Features for 723 Columbia Ln
General Information
Standard status
Active
Size
6,996 SF
Lot size
0.40 Acres
Property subtype
INDUSTRIAL
Warehouse & Industrial
Clear Height
11.8 ft
Drive-In Doors
1
Building Details
Year Built
1987
Listing Agency:
Colliers | Utah County
(801) 610-1300
Listed By:
Brandon Huntsman
(801) 702-4695
Source:
Moodyscre
Added: Jul 14
Changed: Sep 17
Last Checked: Sep 26 at 10:08AM
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 | Utah County
Investment Insights
Based on property information with market context.
This flex and warehouse property was built in 1987 and is offered as Parcel # 19:061:0093 & 0094. The facility includes warehouse clear height of 11'10'', along with a grade-level door measuring 10' x 10'. The property sits on two lot sizes totaling 0.30 and 0.10 acres.
Located at 723 Columbia Ln in Provo, UT, the site is described as being one block off State Street. The property is listed as an ideal fit for flex and retail users, with availability beginning January 2026.
Located at 723 Columbia Ln in Provo, UT, the site is described as being one block off State Street. The property is listed as an ideal fit for flex and retail users, with availability beginning January 2026.
Key Highlights
- Warehouse flex space built in 1987
- 11'10'' warehouse clear height
- Includes a 10' x 10' grade‑level door
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
$79,752
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
5.07%
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%
$1,595,040
$1.6M
Cap Rate 7%
$1,139,314
$1.1M
Cap Rate 9%
$886,133
$886.1K
Market Conditions
NOI Build-Up for 6,996 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
$132.6K $18.96/SF
− Vacancy
−$9.9K −$1.42/SF
EGI
$122.7K $17.54/SF
− OpEx
−$42.9K −$6.14/SF
NOI
$79.8K $11.40/SF
Area
Provo, UT
Vacancy
7.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
35.00%
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%
$1,595,040
Cap Rate 7%
$1,139,314
Cap Rate 9%
$886,133
Alternative Uses
Best Use
Flex RnD
$1.14M
$996.9K – $1.33M
NOI $79,752 @ 7.0% cap · market cap 5.07%
Second Best
Warehouse
$791.1K
$692.2K – $923.0K
NOI $55,378 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$1.93M
$1.69M – $2.25M
NOI $135,063 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
11 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
2,850
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
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Similar Off Market Nearby
- Marvellous Catering — 765 W Columbia Ln, Provo, UT 84604
- Firehouse Subs Bulldog Blvd. — 64 Bulldog Ln, Provo, UT 84604
Frequently Asked Questions
What type of property is this?
Flex space - 1987-built warehouse flex space with 11'10'' clear height and a 10' x 10' grade-level door, available January 2026.
Where is this flex space located?
The property is located at 723 Columbia Ln Provo, UT.
What is the asking price?
The asking price for this property is $1,574,100.
What are key features of this property?
This property features: Warehouse flex space built in 1987; 11'10'' warehouse clear height; Includes a 10' x 10' grade‑level door
