971-1221 S University Ave | Provo, UT 84601
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971-1221 S University Ave
Provo, UT 84601
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Proximity to Two Large Universities: BYU ( Brigham Young University ) and UVU ( Utah Valley University )
- Below Market Rents: The average weighted lease rate is $11.88/PSF.
- Value-add Opportunity: The Shabundy’s tenant occupies 22,000 SF and only pays$7.36/Gross (Effectively $4.11/NNN) with their lease expiring in October.
- Opportunity Zone: Located in an opportunity zone offering great tax incentives for investors looking to defer capital gains.
- National Tenant Mix: 83% of the center is occupied by national tenants that include Ross, Sportsman Warehouse, Dollar Tree, PlanetFitness, and More
- Provo Airport Expansion: The Provo Airport is only 4.2 miles from the property and they recently completed a new 75 million dollar expansion.
PROPERTY FACTS
Property Type
Retail
Property Subtype
Storefront
Building Size
171,042 SF
Building Class
B
Year Built
1990
Tenancy
Multiple
Building Height
1 Story
Loading Docks
8 Exterior
Building FAR
0.27
Lot Size
14.31 AC
Zoning
SC3
Parking
382 Spaces (2.23 Spaces per 1,000 SF Leased)
AMENITIES
- Dedicated Turn Lane
- Freeway Visibility
- Pylon Sign
- Signalized Intersection
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $4,499,900 | |
| Land Assessment | $3,621,300 | Total Assessment | $8,121,200 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$3,621,300
Improvements Assessment
$4,499,900
Total Assessment
$8,121,200
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