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408 2230 Provo, UT 84604

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For Sale
$3,800,000

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

Property size:
7,000 SF

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

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Listing Contact
Lance Pendleton
Lance Pendleton

Listing Agency: Mountain West CRE Listing Agent: Lance Pendleton

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

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 Profile Location Intelligence

Current Use by Public Records

Café Zupas Restaurant

Suggested Use

Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

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.
More about this property
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