Listing Summary
Parkview Building: Premier Office Investment Opportunity in Bountiful, UT
Full Description
Discover a high-yield investment opportunity at the Parkview Building, a strategically located professional office complex in the heart of Bountiful, Utah. This 19,980-square-foot multi-tenant asset offers a rare blend of immediate cash flow and significant "mark-to-market" upside in one of the Wasatch Front’s most supply-constrained submarkets.
Investment Overview & Financial Performance
The Parkview Building represents a sophisticated value-add play for investors or a strategic acquisition for an owner-user. Currently generating an annual gross income of $264,468, the property boasts an in-place NOI of approximately $200,000, reflecting a stable 6.07% going-in cap rate.
What sets this property apart is the immense rental growth potential. With current rents averaging just $13.24/SF to $16.82/SF, there is a substantial gap compared to the Davis County market average of low-to-high $20s. By bridging this gap, investors can realize a Pro-Forma NOI of $325,000, pushing the stabilized yield to an impressive 9.90%.
Property Specifications
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Price: $3,296,700
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Price Per Square Foot: $165
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Total Square Footage: 19,980 SF
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Acreage: 0.855 Acres
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Year Built: 1985
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Stories: 2
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Parking: 2.83 per 1,000 sq ft
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Tenancy: Multi-tenant (Current long-standing professional mix)
Why Invest in the Bountiful Office Market?
The Davis County office submarket is one of the most resilient in Utah, maintaining a vacancy rate between 4% and 6%. This significantly outperforms larger regional markets, ensuring high demand and tenant retention.
Key Value Drivers:
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Mark-to-Market Upside: Market rents are currently ~$23/SF, while this building sits at ~$13–$16/SF. Every $1.00/SF increase in rent adds approximately $20,000 to the annual NOI.
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Lease Flexibility: With several tenants currently on month-to-month agreements or nearing expiration, a new owner has immediate control over repositioning the asset or recapturing space for their own business operations.
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Strategic Location: Situated at 380 North 200 West, the building offers excellent accessibility for clients and employees within the Bountiful community.
Detailed Investment Highlights
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Immediate Scalability: A modest $1.50/SF rent increase projects a 7.0% cap rate in the near term.
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Owner-User Optionality: Perfect for a business owner looking to occupy a portion of the building while the existing tenant base pays down the mortgage.
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Strong Fundamentals: A 1985 build with 2.83/1,000 SF parking ratio provides the infrastructure needed for modern professional services.
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Stabilized Pro-Forma: Potential to reach a $325,000 NOI, representing a $125,000+ increase over current figures through active management.
This offering is a rare combination of stability and explosive growth potential. Whether you are looking for a reliable income stream or a headquarters for your business, the Parkview Building is the premier choice in the Bountiful/Davis County market.
Contact us today to schedule a tour or receive the full offering memorandum for 380 North 200 West.
Quick Glance
- Listing ID:
CL-Utah-27670
- Status:
Active
- Year Build:
1985
- Building Size:
19,980 SqFt
- Lot Size:
1.09 Acre