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 properties

Property subtype

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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