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    1 Center St Provo, UT 84606

    Sponsored
    For Sale
    $8,029,000

    Downtown Provo Office Portfolio: High Growth Potential

    Property size:
    27,415 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity encompasses a portfolio of five buildings totaling 27,415 square feet of traditional office space in Provo, Utah's vibrant downtown Central Business District. The assemblage sits on a 0.615-acre lot and includes three historic buildings: the Knight Block (21,950 rentable square feet), Gates-Snow (9,703 rentable square feet), and the former Allen Camera building (13,451 rentable square feet). The property also includes two additional lots offering significant future development potential. Built in 1900, this Class B property features three stories and offers immediate access to Utah's Center Street Station and convenient proximity to major I-15 exits. The asking price is $8,029,000, translating to $292.87 per square foot. This diverse property presents a unique opportunity for investors seeking a blend of established income and substantial future development upside in a prime downtown location. The existing buildings boast a diverse tenant mix, providing immediate cash flow. The additional land parcels provide the potential for expansion or redevelopment, capitalizing on the area's strong growth trajectory. This is a rare chance to acquire a significant piece of Provo's historic downtown core.

    Property Features for 1 Center St

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    27,415 SF
    Class
    B

    Building Details

    Year Built
    1900
    Buildings
    5
    Stories
    3

    HighLights

    • $8,029,000 asking price for this Provo, Utah office portfolio.
    • 27,415 square feet of office space.
    • Class B office buildings totaling five structures, three stories high.
    • Located on a 0.615‑acre lot in Provo's Central Business District.
    • $292.87 per square foot.
    Property Profile Location Intelligence

    Current Use by Public Records

    Survive Designs Boutique Normandy Homecare Home Health Care Service REMS Inc Property Management Company Gumtree Therapy Mental Health Service Handcrafted Websites for Quilt, ... Store

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Provo
    County
    Utah
    State
    Utah
    Longitude
    -111.658387
    Latitude
    40.2340991

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    FAQs

    What type of property is this?
    Office Property / Space - Downtown Provo Office Portfolio: High Growth Potential
    Where is this office property / space located?
    The property is located at 1 Center St Provo, UT.
    What is the asking price?
    The asking price for this property is $8,029,000.
    What are key features of this property?
    This property features: $8,029,000 asking price for this Provo, Utah office portfolio.; 27,415 square feet of office space.; Class B office buildings totaling five structures, three stories high.
    (801) 666-5776
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    1 Center St Provo, UT 84606
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1 Center St Provo, UT 84606
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