PROVO CITY CENTER Premier CBD Assemblage At Corner of University Ave and Center St. is For Sale
8 Days
390
8
$5,322,000.00
JD
Description
Condition
Property Overview
Colliers is pleased to present a portfolio of existing office and development potential properties in the heart of Provo’s vibrant downtown Central Business District.
With a diverse usage and tenant mix, the assemblage consists of approximately 0.615 acres with 35,401 total rentable square feet (RSF) in two stand-alone buildings and two lots
-
Historic Knight Block (21,950 RSF) Appraisal January 2025 at $3.95M, Offered at a 7 CAP = $2.945M
-
Potential Future Development Lot Appraisal May 2023 $560K
-
Former Allen Camera (13,451 RSF) Appraisal May 2023 $2.18M, Offered at a 6 CAP = $1.82M (does not include to the value of the developable parcel so its a bargan)
-
Potential Future Development Lot goes with the Allen Building
The offering also includes the the lot between the Wells Fargo and Allen buildings, and the lot between the Knight Block and Gates-Snow building for parking and future development.
Knight Block Building: The historic three-story Knight Block building, completed in 1900, was built by the foremost entrepreneur, businessman and philanthropist of his day, Jesse Knight (1845-1921) as the financial headquarters for his various mining, railroad, agricultural, commodity refineries and investment interests. Designated to the National Register of Historic places in 1977 and renovated several times over the years, with tons of character (exposed brick, wood floors, high ceilings, etc., it’s still the anchor of Provo’s central business district, situated on the corner of University Avenue and Center Street with its unique red brick exterior and iconic clock tower. Business continues today with a diverse rent roll of restaurant, retail and office users.
The Allen Building: Two story mixed use building on University Avenue has retail spaces on the ground level and offices on the second floor. The steel frame building, believed to have been constructed in the 1960s, is located where Barton Furniture Company and Christensen’s Department Store were located. Not being of a historical nature, the building can be razed, creating tremendous future development possibilities. Includes the vacant lot once home to a 2-story office building is currently used for parking and also prime for future development. The lot between the building and Wells Fargo tower is part of the Allen parcel and was not valued and cannot be sold separately.
Potential Future Development Lot: Located between the Knight Block and Gates-Snow buildings on Center Street, the lot was once home to the elaborate Princess and later Uinta theaters. It is now used for parking and is a prime location for future development.
More Features:
• Immediate access to the UTA’s Center Street Station
• Conveniently located near both the University Ave and Provo Center Street I-15 exits
• Opportunity Zone; DT1 - General Downtown and DT2 - Downtown Core
• Home to tenants such as: Los Hermanos restaurant, Red Finch Photography Rentals, Lund Optical, Heier Law, Justin Hackworth Photography, Keller Associates, Formative, Gumtree, Rems Inc. Vance Hawkins Designs
• • •
Offered for lease by JD Brisk, owner/agent, licensed commercial agent with Colliers Int. https://services.ksl.com/real-estate-consultants/buy-sell-lease-jd-brisk-vp-colliers-int/234770
I have a handle on most everything in downtown Provo and elsewhere in Ut County. I'm familiar with many buildings and their challenges. Talk to me before you try to rent a space and find out there is no parking. I can even help lease your old space. In addition to my listings, I represent Tenants all over Utah. I can help you find and negotiate for your new location statewide. It costs you nothing as a Tenant to utilize my services. Give me a call. I am a principle in these properties and a commercial Agent licensed with Colliers Int., Pleasant Grove, Utah.
KEYWORDS-- Warehouse – Shop – Dealership - Warehouse Space – Office – Retail – Storage - Retail Space – Office – Restaurant - Flex - Office Space – Warehouse – Industrial – Small Office - Single Office - Building – Yard - For Sale – For Lease - For Rent - Provo - Springville - Orem - Pleasant Grove - Saratoga Springs - Orem - Lehi
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KSL Classifieds makes it easy to buy and sell with peace of mind. Check our safety tips and quickly report anything that doesn’t look right to keep your experience smooth and secure.
PROVO CITY CENTER Premier CBD Assemblage At Corner of University Ave and Center St. is For Sale
8 Days
390
8
$5,322,000.00
JD
Page Stats
Safe. Simple. Trusted.
KSL Classifieds makes it easy to buy and sell with peace of mind. Check our safety tips and quickly report anything that doesn’t look right to keep your experience smooth and secure.
Description
Condition
Property Overview
Colliers is pleased to present a portfolio of existing office and development potential properties in the heart of Provo’s vibrant downtown Central Business District.
With a diverse usage and tenant mix, the assemblage consists of approximately 0.615 acres with 35,401 total rentable square feet (RSF) in two stand-alone buildings and two lots
-
Historic Knight Block (21,950 RSF) Appraisal January 2025 at $3.95M, Offered at a 7 CAP = $2.945M
-
Potential Future Development Lot Appraisal May 2023 $560K
-
Former Allen Camera (13,451 RSF) Appraisal May 2023 $2.18M, Offered at a 6 CAP = $1.82M (does not include to the value of the developable parcel so its a bargan)
-
Potential Future Development Lot goes with the Allen Building
The offering also includes the the lot between the Wells Fargo and Allen buildings, and the lot between the Knight Block and Gates-Snow building for parking and future development.
Knight Block Building: The historic three-story Knight Block building, completed in 1900, was built by the foremost entrepreneur, businessman and philanthropist of his day, Jesse Knight (1845-1921) as the financial headquarters for his various mining, railroad, agricultural, commodity refineries and investment interests. Designated to the National Register of Historic places in 1977 and renovated several times over the years, with tons of character (exposed brick, wood floors, high ceilings, etc., it’s still the anchor of Provo’s central business district, situated on the corner of University Avenue and Center Street with its unique red brick exterior and iconic clock tower. Business continues today with a diverse rent roll of restaurant, retail and office users.
The Allen Building: Two story mixed use building on University Avenue has retail spaces on the ground level and offices on the second floor. The steel frame building, believed to have been constructed in the 1960s, is located where Barton Furniture Company and Christensen’s Department Store were located. Not being of a historical nature, the building can be razed, creating tremendous future development possibilities. Includes the vacant lot once home to a 2-story office building is currently used for parking and also prime for future development. The lot between the building and Wells Fargo tower is part of the Allen parcel and was not valued and cannot be sold separately.
Potential Future Development Lot: Located between the Knight Block and Gates-Snow buildings on Center Street, the lot was once home to the elaborate Princess and later Uinta theaters. It is now used for parking and is a prime location for future development.
More Features:
• Immediate access to the UTA’s Center Street Station
• Conveniently located near both the University Ave and Provo Center Street I-15 exits
• Opportunity Zone; DT1 - General Downtown and DT2 - Downtown Core
• Home to tenants such as: Los Hermanos restaurant, Red Finch Photography Rentals, Lund Optical, Heier Law, Justin Hackworth Photography, Keller Associates, Formative, Gumtree, Rems Inc. Vance Hawkins Designs
• • •
Offered for lease by JD Brisk, owner/agent, licensed commercial agent with Colliers Int. https://services.ksl.com/real-estate-consultants/buy-sell-lease-jd-brisk-vp-colliers-int/234770
I have a handle on most everything in downtown Provo and elsewhere in Ut County. I'm familiar with many buildings and their challenges. Talk to me before you try to rent a space and find out there is no parking. I can even help lease your old space. In addition to my listings, I represent Tenants all over Utah. I can help you find and negotiate for your new location statewide. It costs you nothing as a Tenant to utilize my services. Give me a call. I am a principle in these properties and a commercial Agent licensed with Colliers Int., Pleasant Grove, Utah.
KEYWORDS-- Warehouse – Shop – Dealership - Warehouse Space – Office – Retail – Storage - Retail Space – Office – Restaurant - Flex - Office Space – Warehouse – Industrial – Small Office - Single Office - Building – Yard - For Sale – For Lease - For Rent - Provo - Springville - Orem - Pleasant Grove - Saratoga Springs - Orem - Lehi
