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    408 2230 Provo, UT 84604

    Sponsored
    For Sale
    $3,800,000

    High-growth QSR investment, 8.10% pro-forma cap rate.

    Property size:
    7,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    395
    This exceptional two-tenant retail investment property, located at 408 W 2230 N in Provo, Utah (84604), presents a compelling opportunity. The 7,000 square foot building, constructed in 1989, is situated within the River's Edge Shopping Center, less than a mile from Brigham Young University, offering excellent visibility and access. Currently, the property boasts a 50% occupancy rate, with one tenant, Café Zupas, a QSR establishment, occupying half the space and expressing interest in lease renewal. The second space, previously occupied by Wilson Diamond's, is currently generating rental income despite the tenant's relocation. The property's current NOI is $164,820, with a projected NOI of $308,000 by 2026, representing a significant potential for increased profitability. The asking price is $3,800,000, translating to a price per square foot of $542 and a current cap rate of 4.33%. The property is classified as Class B, features a single-story building, and operates under a NNN lease structure. The property's APN is 517330007. This investment offers a strong potential for significant return on investment, driven by the projected NOI growth and prime location near a major university. The property is part of a larger shopping center that includes multi-family units, further enhancing its appeal and potential for future growth.

    Property Features for 408 2230

    General Information

    Property type
    Restaurants
    Square Feet
    7,000 SF
    Class
    B

    Building Details

    Year Built
    1989
    Buildings
    1
    Stories
    1
    Units
    2

    HighLights

    • Exceptional opportunity to significantly increase net operating income (NOI) by 2026.
    • River's Edge Shopping Center location, less than one mile from Brigham Young University.
    • Brand new construction featuring multi‑family units.
    • Currently 50% occupied by Café Zupas, with lease renewal interest; former tenant, Wilson Diamond's, still under lease.
    Property Profile Location Intelligence

    Current Use by Public Records

    Café Zupas Health Food Restaurant

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Provo
    County
    Utah
    State
    Utah
    Longitude
    -111.6667741
    Latitude
    40.2638045

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    FAQs

    What type of property is this?
    Restaurant - High-growth QSR investment, 8.10% pro-forma cap rate.
    Where is this restaurant located?
    The property is located at 408 2230 Provo, UT.
    What is the asking price?
    The asking price for this property is $3,800,000.
    What are key features of this property?
    This property features: Exceptional opportunity to significantly increase net operating income (NOI) by 2026.; River's Edge Shopping Center location, less than one mile from Brigham Young University.; Brand new construction featuring multi-family units.
    (801) 885-4304
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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
    408 2230 Provo, UT 84604
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