4949 300Provo, UT 84604

Property Details for 4949 300

Year built

2013

Lot size

2.88 AC

Property size (Sq ft)

75,653 SF

Property type

Office buildings

APN

51-511-0001

APU

515110001

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $20,183,134

  6.5%

  $18,630,584

  7%

  $17,299,828

• Comparable approach

  Method

  Valuation

  Relative Method

  $15,157,079

  Geo Method

  $15,157,079

• Alternative Use

  Use

  Valuation

  Residential

  $23,101,924

  Hospitality

  $21,161,240

  Educational

  $17,605,902

  Medical

  $18,211,396

  Retail

  $27,386,960

Location Insight

City

Provo

County

Utah

State

Utah

Latitude

40.3002

Longitude

-111.663

CBSA code

39340

CBSA name

PROVO-OREM, UT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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