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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    372 2000 Pleasant Grove, UT 84062

    • Commercial real estate
    • 5,712 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US86-0673156
    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

    • Commercial real estate

    Property Details for 372 2000

    Year built
    2024
    Property size
    5,712 SF
    Property type
    Commercial real estate

    Description

    This exceptional Class A, two-story retail and executive office building, totaling 5,712 square feet, is available for lease in desirable Pleasant Grove, Utah. Completed in 2024, the property boasts two suites, offering flexible space options ranging from 2,376 to 5,712 contiguous square feet. Currently, the entire 5,712 square feet is vacant and available for immediate occupancy. The building features a prominent street frontage with convenient access to North County Boulevard, providing excellent visibility and accessibility. Its strategic location offers immediate access to I-15, placing it within easy reach of a large workforce and customer base. The area is characterized by a high concentration of affluent residents, strong corporate presence, and a high demand for health, executive office, and family-friendly businesses. Situated near top-rated schools, this property benefits from a thriving community and numerous local amenities. The estimated grey shell delivery is Q4 2024. This presents a unique opportunity to establish a presence in a high-growth area with significant potential for success. The property is located at 372 N 2000 W St, Pleasant Grove, UT 84062, in Utah County.

    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
    Pleasant Grove
    County
    Utah
    State
    Utah
    Longitude
    -111.76904608383
    Latitude
    40.36745156195

    Comparable in this City

    • $1.50 SF/Yr
      8,516 SF

      Mixed-Use Destination in Utah County

      130-acre mixed-use destination with Class 'A' office and retail space.
      2415 W 700 S, Pleasant Grove, UT 84062
      View Details
    • $24 SF/Yr
      110,000 SF

      Urban Grove Executive Suites

      Premium Pleasant Grove Office Space
      365 Garden Grove Ln, Pleasant Grove, UT 84062
      View Details
    • $22 SF/Yr
      2,293 SF

      Office Space in Valley Grove

      Flexible office space available in a mixed-use business park.
      2086 W Grove Pkwy, Pleasant Grove, UT 84062
      View Details
    • $22 SF/Yr
      1,254 SF

      Pleasant Grove Office Space Available

      Office suites available with I-15 access and ample parking.
      2174 W Grove Pkwy, Pleasant Grove, UT 84062
      View Details
    • $22 SF/Yr
      10,984 SF

      Office Space in Valley Grove

      Class A office space in a mixed-use community.
      2015 W Grove Pkwy, Pleasant Grove, UT 84062
      View Details
    • $23 SF/Yr
      2,763 SF

      Office Space in Valley Grove

      Class A office space in a mixed-use Utah County park.
      1982 W Pleasant Grove Blvd, Pleasant Grove, UT 84062
      View Details

    Similar Nearby for Sale

    • $26,800,000
      106,000 SF

      Prime Pleasant Grove Office Campus

      Upscale Executive Offices, 106,000 SF
      1199 700, Pleasant Grove, UT 84062
      View Details
    • $26,800,000
      98,520 SF

      Office/Warehouse Campus with Development Opportunity

      98,520 SF campus with expansion potential near I-15.
      1199 W 700 S, Pleasant Grove, UT 84062
      View Details
    • $4,595,692
      7,481 SF

      Retail Space in Pleasant Grove

      Retail space for sale with high visibility and accessibility.
      2085 W 450 S, Pleasant Grove, UT 84062
      View Details
    • $6,599,340
      5.05 Acres

      Prime Retail Land, Pleasant Grove

      Utah Retail Property - 223,201 SF
      1000 State Rd, Pleasant Grove, UT 84062
      View Details
    • Contact for pricing
      4,500 SF

      Retail Land For Sale

      Land available for sale or ground lease in Pleasant Grove.
      1427 W State Rd, Pleasant Grove, UT 84062
      View Details
    • $650,000
      2,416 SF

      Mixed-Use Duplex with Retail Space

      Unique duplex featuring residential and commercial space in Pleasant Grove.
      1024 W 700 S, Pleasant Grove, UT 84062
      View Details

    Similar Nearby for Lease

    • $1.50 SF/Yr
      8,516 SF

      Mixed-Use Destination in Utah County

      130-acre mixed-use destination with Class 'A' office and retail space.
      2415 W 700 S, Pleasant Grove, UT 84062
      View Details
    • $24 SF/Yr
      110,000 SF

      Urban Grove Executive Suites

      Premium Pleasant Grove Office Space
      365 Garden Grove Ln, Pleasant Grove, UT 84062
      View Details
    • $23 SF/Yr
      2,763 SF

      Office Space in Valley Grove

      Class A office space in a mixed-use Utah County park.
      1982 W Pleasant Grove Blvd, Pleasant Grove, UT 84062
      View Details
    • $22 SF/Yr
      2,293 SF

      Office Space in Valley Grove

      Flexible office space available in a mixed-use business park.
      2086 W Grove Pkwy, Pleasant Grove, UT 84062
      View Details
    • $22 SF/Yr
      1,254 SF

      Pleasant Grove Office Space Available

      Office suites available with I-15 access and ample parking.
      2174 W Grove Pkwy, Pleasant Grove, UT 84062
      View Details
    • $12 SF/Yr
      1,929 SF

      Functional Office Space For Rent

      Office space with functional layout, ample parking, and great access.
      2435 W 450 S, Pleasant Grove, UT 84062
      View Details
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    372 2000
    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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