For Sale
$22,000,000

4949 300Provo, UT 84604

Class A Office, 100,118 SF, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a 100,118-square-foot Class A office building in Provo, Utah's prestigious Riverwoods Office Park. Currently 100% occupied by Vivint Smart Home, Inc. (a subsidiary of NRG Energy, Inc.), this single-tenant net lease property boasts a strong 10.33% cap rate and a substantial net operating income (NOI) of $2,272,422. Built in 2013 and recently renovated in 2024, the three-story building sits on a five-acre lot (APN: 51-511-0001 & 51-511-0002) and features unique underground parking. The property serves as a critical sales, training, and recruiting headquarters for Vivint, benefiting from significant tenant improvements completed in November 2024. The lease includes two five-year renewal options, enhancing long-term stability. Its prime location offers easy access to major universities (BYU and UVU), upscale residential areas, and the Shops at Riverwoods. The asking price is $22,000,000, representing a significant value below replacement cost. This investment provides a compelling combination of strong cash flow, a high-quality tenant, and a desirable location in a thriving market. The property is zoned RBP.

Highlights

  • Single-tenant, net-leased Class A office building occupied by Vivint Smart Home (NRG Energy subsidiary).
  • 100,118 square feet, three-story building on a five-acre lot in Provo, Utah's Riverwoods Office Park.
  • $22,000,000 asking price; 10.33% cap rate, $2,272,422 NOI.
  • Built in 2013, renovated in 2024, featuring underground parking and significant tenant improvements.
  • Serves as Vivint's critical sales, training, and recruiting headquarters.
  • Lease includes two five-year renewal options.

Property Details for 4949 300

Property type
Office properties
Square Feet
100,118 SF
Class
A
Year Built/Renovated
2013/2024
Buildings
1
Stories
3
Lot Size (sq. ft)
217,800 SF

Location Insight

City
Provo
County
Utah
State
Utah
Latitude
40.3001948
Longitude
-111.6637115
4949 300, Provo, Utah

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4949 300
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