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    County Blvd Pleasant Grove, UT 84062
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    County Blvd, Pleasant Grove, UT 84062

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    • Retail properties & Spaces
    • 211,399 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 0 County Blvd

    Property type
    Retail properties & Spaces
    Property subtype
    Life science properties

    Description

    Valley Grove offers an exceptional opportunity for businesses seeking flexible, high-quality space in a thriving Utah County location. This Class A property boasts 211,399 square feet of retail and industrial space, with a diverse range of suite sizes available, from a minimum of 152 square feet to a maximum contiguous space of 29,260 square feet. Currently, 212,316 square feet is vacant, offering significant potential for expansion or consolidation. The property features a 10-13 foot clear minimum ceiling height, providing ample vertical space for various uses. With a total of 37 suites across the 130-acre site, Valley Grove provides a dynamic and versatile environment. Ample parking is available, with a generous 5.5 spaces provided per 1,000 square feet. Situated at the intersection of Pleasant Grove Boulevard and North County Boulevard in Pleasant Grove, UT 84062, this location offers unparalleled access to I-15, minimizing commute times. The development is part of a larger, $1 billion mixed-use project, promising a vibrant and convenient business community. This is an ideal location for businesses seeking a modern, efficient, and strategically located space in a rapidly growing area. The property's flexible design caters to a wide range of businesses, from research and development to retail operations. The expansive lot size and ample parking ensure convenient access and ample room for growth.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Pleasant Grove
    County
    Utah
    State
    Utah
    Longitude
    -111.764
    Latitude
    40.354

    Comparable in this City

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      1.13 Acres

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      943,510 SF

      1650 State St

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      1,350 SF

      247 640th W

      LIGHT INDUSTRIAL
      247 640th W, Pleasant Grove, UT 84062-2693
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    Similar Nearby for Lease

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      Valley Grove Mixed-Use Development

      130-acre mixed-use destination with office, retail, and hospitality spaces.
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      8,516 SF

      Mixed-Use Destination in Utah County

      130-acre mixed-use destination with Class 'A' office and retail space.
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      Office, Lab, Warehouse Flex Space

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      Flex/R&D Space in Valley Grove

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      Retail Space with I-15 Access

      Retail spaces available with high traffic and easy access.
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      1,361 SF

      Retail Units with Drive-Thru

      Retail units available for lease, one with drive-thru.
      2465 W 280 S, Pleasant Grove, UT 84062
      View Details
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    Pleasant Grove, UT 84062
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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