Commercial Real Estate Market in Spanish Fork, UT
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
129 active listings and 784 off-market properties in Spanish Fork, UT. Commercial property asks $111/SF to buy and $23.80/SF/Yr to lease.
Market Trends
Spanish Fork, UT spans 362.2 square miles in Utah County, Utah. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Spanish Fork, UT runs 20.8% across the West region in 2025, up from 11% in 2019.
Vacancy Rate % in West region
Retail
Retail vacancy in Spanish Fork, UT runs 5.8% across the West region in 2025, down from 7% in 2020.
Vacancy Rate % in West region
Industrial
Industrial vacancy in Spanish Fork, UT runs 7.9% across the West region in 2025, up from 3.7% in 2019. Nearly 3.2x the 2022 low of 2.5%.
Vacancy Rate % in West region
Multifamily
Multifamily space in Spanish Fork, UT asks $254/SF to buy. Vacancy runs 8.6% across the West region in 2025, up from 7% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in West region
Market overview
Demographics & Economy
Spanish Fork, UT has 45,959 residents in 13,162 households. Density runs 127 people per square mile. Median household income here is $98,398 and median gross rent $1,393 a month.
45,959
Population
13,162
Households
3.5
Avg Household Size
28
Median Age
38%
College-Educated
94%
High-School Grad
362.2 sq mi
ZIP Area
127
Density / Sq Mi
$98,398
Median Household Income
$40,509
Median Earnings
$1,393
Median Rent
$452,100
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Springville | — | — |
| Salem | — | — |
Commercial property in Spanish Fork, UT asks $111/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Spanish Fork?
Commercial property in Spanish Fork, UT asks an average of $111 per square foot. Multifamily carries the highest asking price at $254/SF.
How much does it cost to lease commercial space in Spanish Fork?
Asking lease rates in Spanish Fork, UT average $23.80 per square foot per year.
Where does Realmo's Spanish Fork market data come from?
Realmo compiles Spanish Fork, UT figures from 94 active sale listings, 35 active lease listings, 784 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 94 active for-sale and 35 active for-lease listings in Spanish Fork, UT. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at West region level, retail vacancy is reported at West region level and industrial vacancy is reported at West region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · How Realmo checks market page data · Report a data issue
