Provo, UT
Commercial Real Estate Market Trends & Data

$423 Avg asking sale price
$349 Avg asking lease rate
12,179 SF Avg unit lease size
18,874 SF Avg building size for sale
6.33% Average cap rate

Provo's Demographic Profile

Provo has 38,175 households and a median income of $58,644, providing context for rent absorption and tenant demand across retail and multifamily assets. A +15% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 122,608
# Households 38,175
Median age 27
Median household income $58,644
Avg household size 3.0
Renter-occupied housing units 22,963
5-year population change +15%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Provo, UT

↻ Updated Monthly

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Nearby Office Markets Avg Cost/SF Typical Size Cap Max
Provo $380 22,302 SF 7.08%
Lindon $388 29,663 SF 7.00%
Pleasant Grove $281 34,139 SF 7.00%
Orem $258 19,782 SF 7.08%
Nearby Industrial Markets Avg Cost/SF Typical Size Cap Max
Provo $227 23,374 SF 6.00%
Lindon $257 46,587 SF 6.53%
Vineyard $217 88,141 SF 6.53%
Orem $218 74,617 SF 6.53%
Nearby Retail Markets Avg Cost/SF Typical Size
Provo $391 13,047 SF
Lindon $531 19,927 SF
Pleasant Grove $727 15,398 SF
Orem $481 11,541 SF
Springville $239 5,102 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Provo $238 3,833 SF 7.50%
Orem $274 10,619 SF 3.59%
American Fork $264 151,411 SF 5.02%
Saratoga Springs $264 151,411 SF 5.02%

Commercial Properties For Sale in Provo

The listings below reflect how current market pricing and building scale translate into active opportunities available today.
For Sale

Roylance Townhomes

Provo, UT 84606

  • 30,240 SF Multifamily
  • $7,800,000
For Sale

225 E 900 S

Provo, UT 84606

  • 155,044 SF Industrial Building
  • Price Upon Request
For Sale

2121 N 550 W

Provo, UT 84604

  • 50,120 SF Office Building
  • $12,400,000
For Sale

242 N University Ave

Provo, UT 84601

  • 15,768 SF Retail Building
  • $3,600,000
For Sale

340 E 1200 S

Orem, UT 84058

  • 6,124 SF Retail Building
  • $1,775,000
For Sale

Delphi Building

Provo, UT 84606

  • 12,549 SF Office Building
  • $2,080,000

Average Price For Sale

↻ Updated Monthly

Average Size For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

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Nearby Commercial Markets

Comparing nearby markets helps investors see whether Provo pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets Avg Cost/SF Average Size
Provo $423 18,874 SF
Lindon $298 36,618 SF
Vineyard $221 76,444 SF
Pleasant Grove $354 23,119 SF
Orem $305 25,521 SF

Regional Demographic Comparison

This comparison places Provo alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Provo or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Provo 122,608 38,175 27 $58,644 3 22,963 15%
Lindon 12,989 3,606 31 $107,224 4 842 15%
Vineyard 17,500 5,672 27 $87,662 3 3,379 20%
Pleasant Grove 41,033 12,137 29 $90,187 3 4,304 15%
Orem 106,231 32,472 29 $74,997 3 14,433 15%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Provo, UT and update as inventory changes. Averages can shift between periods or vary across property types depending on the mix of listings available at a given time, so individual metrics may not reflect broader market trends. These figures are best used as directional benchmarks for early market evaluation. For comprehensive commercial real estate data and analytics, subscribe to CoStar.

FAQs About Commercial Investing in Provo

View All Commercial Real Estate For Sale in Provo
Is Provo a good market for a first-time commercial real estate investor?

Provo offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in Provo?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Provo. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in Provo?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Provo. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does Provo compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Provo. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for Provo acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Provo, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

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