Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2109 University Ave Provo, UT 84604-5875

    • Warehouses
    • 3,199 SF
    • 1.00 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US86-0641360
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Allred Orchards / Produce Market / Farm

    Property Details for 2109 University Ave

    Year built
    1976
    Lot size
    1.00 lot acres
    Property size
    3,199 SF
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    19-008-0001
    APU
    190080001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Provo
    County
    Utah
    State
    Utah
    Longitude
    -111.659
    Latitude
    40.2616
    CBSA code
    39340
    CBSA name
    PROVO-OREM, UT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $11,844
    $0.00
    $0.00
    $1,165,900
    -
    $896,800
    $269,100
    $1,165,900

    Comparable in this City

    • Value Estimation by Request
      174 SF

      Provo, UT 84604

      MINI-WAREHOUSE, STORAGE • 174 SF
      Provo, UT 84604
      View Details
    • Value Estimation by Request
      4,017 SF

      1515 Riverside Ave

      MINI-WAREHOUSE, STORAGE • 4,017 SF
      1515 Riverside Ave, Provo, UT 84604-2404
      View Details
    • Value Estimation by Request
      2,114 SF

      Sundance, UT 84604

      MINI-WAREHOUSE, STORAGE • 2,114 SF
      Sundance, UT 84604
      View Details
    • Value Estimation by Request
      2,921 SF

      1410 Riverside Ave

      MINI-WAREHOUSE, STORAGE • 2,921 SF
      1410 Riverside Ave, Provo, UT 84604-2434
      View Details
    • Value Estimation by Request
      3,228 SF

      369 3200th N

      MINI-WAREHOUSE, STORAGE • 3,228 SF
      369 3200th N, Provo, UT 84604-4519
      View Details
    • Value Estimation by Request
      11,895 SF

      5132 300th W, Unit 2

      MINI-WAREHOUSE, STORAGE • 11,895 SF
      5132 300th W, Provo, UT 84604-5817
      View Details

    Similar Nearby for Sale

    • $675,000
      0.03 Acres

      2230 University Ave, Provo, UT 84604

      Office Properties & Spaces • 0.03 Acres
      2230 University Ave, Provo, UT 84604
      View Details
    • Contact for pricing
      9,751 SF

      Provo Office Building For Sale

      9,751 square foot office building in Provo, Utah.
      1234 900 East, Provo, UT 84604
      View Details
    • $625,000

      Well-Maintained Home with Mountain Views

      Move-in ready home with upgrades and mountain views.
      2295 N 470 E, Provo, UT 84604
      View Details
    • $1,000,000

      13.7 Acres Near BYU Campus

      Agricultural land near BYU with potential for residential rezoning.
      1215 N Terrace Dr, Provo, UT 84604
      View Details
    • $20,000,000
      122,514 SF

      Panorama at Riverwoods: Provo Office Building

      122,514 SF Office Space - Immediate Occupancy
      382 Park Cir, Provo, UT 84604
      View Details
    • $385,000
      0.33 Acres

      Land with Pool in Provo

      Residential land with pool, mature trees, and mountain views.
      4161 N Canyon Rd, Provo, UT 84604
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      3,625 SF

      Former Medical Office Space Available

      High-profile office park, ample parking, located near BYU campus.
      3650 N University Ave, Provo, UT 84604
      View Details
    • $13 SF/Yr
      422 SF

      Office Space with Mountain Views

      Office space suitable for medical or general business use.
      3521 N University Ave, Provo, UT 84604
      View Details
    • Contact for pricing
      871 SF

      Remodeled Retail Space in Provo

      Newly remodeled retail space with modern design and great visibility.
      2255 N University Pkwy, Provo, UT 84604
      View Details
    • $30 SF/Yr
      1,602 SF

      Office Space Near Medical Center

      Office space with good parking, visibility, and high traffic.
      1215 N 500 W, Provo, UT 84604
      View Details
    • $13 SF/Yr
      7,271 SF

      Provo Office Space For Lease

      7,271 SF Office Building in Provo, UT
      3325 University Ave, Provo, UT 84604
      View Details
    • $12 SF/Yr
      19,185 SF

      Provo Coworking Space For Lease

      Modern Office Suite, 6,060 SF Available
      3000 University Ave, Provo, UT 84604
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2109 University Ave
    Provo, UT 84604-5875
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.