Warehouse with Additional
For Sale
$1,495,000
735 S State St, Provo, UT 84606
Three contiguous parcels combine commercial zoning, an existing duplex, and a vacant lot for business or redevelopment use.
Property Size8,592 SF
Price / SF$173
Days on Market500
Property Features for 735 S State St
General Information
Standard status
Active
Size
8,592 SF
Zoning
CM
Additional Details
Opportunity Zone
Yes
Warehouse Space
5,000 SF
Land Use
commercial, residential
Taxes and HOA fees
Annual Taxes
$7,430
Building Details
Buildings
2
Listing Agency:
Presidio Real Estate
(801) 251-6683
Listed By:
Kim Pannell
(480) 241-8194
Source:
Exprealty
Added: May 25, 2025
Changed: Sep 2
Last Checked: Oct 5 at 10:01PM
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 Presidio Real Estate
Investment Insights
Based on property information with market context.
This commercial offering comprises three contiguous parcels with a 5,000 SF warehouse, a 3,592 SF duplex, and a .23-acre vacant lot. The warehouse provides space suited to storage, distribution, or light manufacturing. The duplex includes a four-bedroom, two-bath unit and a one-bedroom, one-bath unit. The existing residential improvement also has a layout that could be converted back to retail space.
The property is located at 735 S State St in Provo and carries CM, or Heavy Commercial, zoning. The vacant parcel can support additional parking, expansion, or new construction. All three parcels are situated within a designated Opportunity Zone, which may provide potential tax incentives. The portfolio includes parcel numbers 22-035-0134, 22-035-0136, and 65-722-0001.
The property is located at 735 S State St in Provo and carries CM, or Heavy Commercial, zoning. The vacant parcel can support additional parking, expansion, or new construction. All three parcels are situated within a designated Opportunity Zone, which may provide potential tax incentives. The portfolio includes parcel numbers 22-035-0134, 22-035-0136, and 65-722-0001.
Key Highlights
- 5, 000 SF warehouse with storage, distribution, and light manufacturing potential
- 3, 592 SF duplex with 4 BR/2 BA and 1 BR/1 BA units
- Three contiguous parcels included in the portfolio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,620
Cap Rate
6.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,852,400
$1.9M
Cap Rate 7%
$1,323,143
$1.3M
Cap Rate 9%
$1,029,111
$1.0M
Market Conditions
NOI Build-Up for 8,592 SF
Gross rent
$139.2K $16.20/SF
− Vacancy
−$6.9K −$0.80/SF
EGI
$132.3K $15.40/SF
− OpEx
−$39.7K −$4.62/SF
NOI
$92.6K $10.78/SF
Area
Provo, UT
Vacancy
4.94%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,852,400
Cap Rate 7%
$1,323,143
Cap Rate 9%
$1,029,111
Alternative Uses
Best Use
Multifamily LT 5
$1.32M
$1.16M – $1.54M
NOI $92,620 @ 7.0% cap · market cap 6.20%
Second Best
Apartment 5plus
$1.21M
$1.06M – $1.42M
NOI $84,938 @ 7.0% cap · market cap 5.68%
Theoretical Best
Office A
$2.37M
$2.07M – $2.76M
NOI $165,875 @ 7.0% cap · market cap 11.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
482
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 84606, UT
33,791
Population
11,428
Households
3
Avg Household Size
25
Median Age
45%
College-Educated
95%
High-School Grad
11.6 sq mi
ZIP Area
2,913
Density / Sq Mi
$52,110
Median Household Income
$14,955
Median Earnings
$1,149
Median Rent
$407,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Warehouse - Three contiguous parcels combine commercial zoning, an existing duplex, and a vacant lot for business or redevelopment use.
Where is this warehouse located?
The property is located at 735 S State St Provo, UT.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 5, 000 SF warehouse with storage, distribution, and light manufacturing potential; 3, 592 SF duplex with 4 BR/2 BA and 1 BR/1 BA units; Three contiguous parcels included in the portfolio
