971-1221 S University Ave 171,121 SF 96% Leased Retail Building Provo, UT 84601 $38,148,551 CAD ($222.93 CAD/SF) 7.51% Cap Rate
EXECUTIVE SUMMARY
Prime Retail Investment – 171,121 SF shopping center in Provo, UT, 95.86% leased with national tenants.
High Visibility & Foot Traffic – Located off I-15 with 127,000 AADT, near BYU, UVU, and Provo Towne Centre redevelopment.
Major Anchors & Growth Potential – Staples, Les Schwab, Harbor Freight, and Sam’s Club; positioned in a federally designated Opportunity Zone.
Booming Market & Infrastructure – Near Provo Airport’s $75M expansion and $20M sports complex, drawing 89,000+ visitors annually.
Attractive Investment Metrics – $27.5M price, 7.51% cap rate, $2.07M NOI, with recent roof and HVAC upgrades.
High Visibility & Foot Traffic – Located off I-15 with 127,000 AADT, near BYU, UVU, and Provo Towne Centre redevelopment.
Major Anchors & Growth Potential – Staples, Les Schwab, Harbor Freight, and Sam’s Club; positioned in a federally designated Opportunity Zone.
Booming Market & Infrastructure – Near Provo Airport’s $75M expansion and $20M sports complex, drawing 89,000+ visitors annually.
Attractive Investment Metrics – $27.5M price, 7.51% cap rate, $2.07M NOI, with recent roof and HVAC upgrades.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
171,121 SF
Building Class
B
Year Built/Renovated
1990/2017
Price
$38,148,551 CAD
Price Per SF
$222.93 CAD
Cap Rate
7.51%
NOI
$2,865,874 CAD
Percent Leased
96%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
8 Exterior
Building FAR
0.27
Lot Size
14.31 AC
Opportunity Zone
Yes
Zoning
SC3
Parking
382 Spaces (2.23 Spaces per 1,000 SF Leased)
AMENITIES
- Dedicated Turn Lane
- Freeway Visibility
- Pylon Sign
- Signalized Intersection
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Harbor Freight
- Retailer
-
99,999 SF
- -
- -
- Reams Boots and Jeans
- Retailer
-
99,999 SF
- -
- -
- Ross Dress for Less
- Retailer
-
99,999 SF
- -
- -
- Starbucks
- Accommodation and Food Services
-
99,999 SF
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Harbor Freight | Retailer | 99,999 SF | - | - | ||
| Reams Boots and Jeans | Retailer | 99,999 SF | - | - | ||
| Ross Dress for Less | Retailer | 99,999 SF | - | - | ||
| Starbucks | Accommodation and Food Services | 99,999 SF | - | - |
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
| Space | Size | Space Use | Position | Available |
| 1st Floor | 7,079 SF | Retail | - | Now |
1st Floor
| Size |
| 7,079 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 CAD | |
| Land Assessment | $0 CAD | Total Assessment | $6,255,026 CAD |
