256 Center StProvo, UT 84606

Property Details for 256 Center St

Year built

1955

Lot size

0.19 AC

Property size (Sq ft)

8,589 SF

Property type

Healthcare properties

Property subtype

Assisted living facilities

APN

05-023-0015

APU

50230015

Description

This exceptional 8,589 square foot property, located at 256 E Center St in Provo, Utah, presents a unique investment opportunity. Currently zoned for senior living, this building boasts a prime location on Center Street in the 84606 zip code. Previously utilized as an Intermediate Care Center and Skilled Nursing Center, the property holds a license for 34 beds. The asking price is $1,495,000, translating to $174.06 per square foot. This presents a compelling proposition for investors seeking a property with significant redevelopment potential. The existing structure offers a solid foundation for various uses, allowing for adaptation to current market demands. The property's central location within Provo provides excellent accessibility and visibility, making it an attractive option for a range of businesses or continued use as a senior care facility. Given its history and zoning, this property offers a versatile platform for future development or continued operation within the senior care sector. The substantial square footage and prime location combine to create a strong investment opportunity in a thriving Utah County market. Serious inquiries are encouraged to explore the possibilities this property offers.

• CAP approach

  CAP return

  Valuation

  6%

  $2,239,871

  6.5%

  $2,067,573

  7%

  $1,919,889

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,978,927

  Geo Method

  $1,978,927

• Alternative Use

  Use

  Valuation

  Residential

  $2,622,804

  Hospitality

  $2,402,474

  Educational

  $1,998,830

  Medical

  $2,067,573

  Retail

  $3,109,292

Location Insight

City

Provo

County

Utah

State

Utah

Latitude

40.2333

Longitude

-111.654

CBSA code

39340

CBSA name

PROVO-OREM, UT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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