225 Center StProvo, UT 84601
- Turn key restaurants
- 4,875 SF
For Sale
$1,050,000
View listing
Property Details for 225 Center St
- Year built
- 1929
- Lot size
- 0.11 AC
- Property size (Sq ft)
- 4,875 SF
- Property type
- Turn key restaurants
- APN
- 04-059-0020
- APU
- 40590020
Description
This 4,875 square foot retail property, located at 225 W Center St, Provo, UT 84601, is offered for sale at $1,050,000. The property, built in 1929, sits on a 0.11-acre lot (APN 04:059:0020) and is zoned DT1. Currently, the front portion (approximately 3,075 square feet) is leased to Vegan Sun under a triple net (NNN) lease with 6 years remaining, generating $43,992 in annual rent. An additional 1,800 square feet of vacant space is available, along with a smaller space (approximately 1,000 sq ft) currently leased month-to-month for $400. The building offers a significant value-add opportunity
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,911,858
- 6.5%
- $1,764,792
- 7%
- $1,638,735
-
Comparable approach
- Method
- Valuation
- Relative Method
- $2,461,300
- Geo Method
- $2,461,300
-
Alternative Use
- Use
- Valuation
- Residential
- $1,488,668
- Hospitality
- $1,363,612
- Educational
- $1,134,509
- Medical
- $1,173,526
- Retail
- $1,764,792
Location Insight
- City
- Provo
- County
- Utah
- State
- Utah
- Latitude
- 40.2333
- Longitude
- -111.663
- CBSA code
- 39340
- CBSA name
- PROVO-OREM, UT METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$5,396
-
-
$523,600
-
$399,200
$124,400
$523,600
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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