Provo Industrial/Flex Opportunity Zone
For Sale
Contact for pricing
745 S 100 E, Provo, UT 84606
32,404 SF industrial/flex building in Provo's East Bay corridor.
Property Size32,404 SF
Lot Size1.80 Acres
Price / SF$219.49
Days on Market187
Property Features for 745 S 100 E
General Information
Standard status
Active
Size
32,404 SF
Class
B
Lot size
1.80 Acres
Property subtype
Industrial
Zoning
CM (Heavy Commercial Zone)
Lease Type
NNN
Building Details
Year Built
1980
Year Renovated
2025
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Newmark Mountain West
(636) 219-5642
Listed By:
Jeffery Sorenson · License #UT 8569408-SA00
Source:
Crexi
Added: Feb 6
Changed: Aug 8
Last Checked: Aug 12 at 11:26AM
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 Newmark Mountain West
Investment Insights
Based on property information with market context.
Located in the East Bay industrial corridor of Provo, the property at 745 S 100 E offers an opportunity to acquire an industrial/flex asset within a federally designated Opportunity Zone. The 32,404 square foot building is situated on a 1.8-acre parcel and is currently fully leased. The property includes specialized infrastructure such as lifting cranes and industrial-grade utility preparation. It is suited for light manufacturing, distribution, or professional flex use. The location provides accessibility, situated 0.4 miles from the Provo FrontRunner Station and minutes from the I-15 interchange.
Key Highlights
- Prime location in Provo's East Bay industrial corridor, near Provo FrontRunner Station and I‑15.
- High‑utility industrial/flex asset suitable for light manufacturing, distribution, or professional flex use.
- Currently fully leased, providing immediate cash flow.
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
$369,396
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
5.19%
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%
$7,387,920
$7.4M
Cap Rate 7%
$5,277,086
$5.3M
Cap Rate 9%
$4,104,400
$4.1M
Market Conditions
NOI Build-Up for 32,404 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
$614.4K $18.96/SF
− Vacancy
−$46.1K −$1.42/SF
EGI
$568.3K $17.54/SF
− OpEx
−$198.9K −$6.14/SF
NOI
$369.4K $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%
$7,387,920
Cap Rate 7%
$5,277,086
Cap Rate 9%
$4,104,400
Alternative Uses
Best Use
Flex RnD
$5.28M
$4.62M – $6.16M
NOI $369,396 @ 7.0% cap · market cap 5.19%
Second Best
Warehouse
$3.66M
$3.21M – $4.28M
NOI $256,501 @ 7.0% cap · market cap 3.61%
Theoretical Best
Office A
$8.94M
$7.82M – $10.43M
NOI $625,585 @ 7.0% cap · market cap 8.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
685
Businesses Nearby
Under-served
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
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 32,404 SF industrial/flex building in Provo's East Bay corridor.
Where is this flex space located?
The property is located at 745 S 100 E Provo, UT.
What is the asking price?
The asking price for this property is $7,112,215.
What are key features of this property?
This property features: Prime location in Provo's East Bay industrial corridor, near Provo FrontRunner Station and I‑15.; High‑utility industrial/flex asset suitable for light manufacturing, distribution, or professional flex use.; Currently fully leased, providing immediate cash flow.
