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242 N University Ave 15,768 SF Retail Building Provo, UT 84601 $5,059,080 CAD ($320.84 CAD/SF)
Executive Summary
For sale is this 15,768 SF mixed-use building located in downtown Provo, UT. This is a rare opportunity to own a two-story asset directly on University Ave — one of the most heavily trafficked and recognizable corridors in Utah County. The property's flexible retail and office configuration makes it well-suited for owner-users or investors targeting a mix of ground-floor retail, restaurant, or storefront use alongside second-floor office space.
With 16 off-street parking stalls, the building offers a parking ratio that's difficult to find in downtown Provo, easing a common pain point for tenants and customers alike. The property is located within walking distance of Provo's Downtown core, BYU, UVX Bus Stops, and the area's dense mix of restaurants, retail, and professional offices — offering strong visibility and steady foot and vehicle traffic.
Please inquire for additional information or to schedule a time to tour.
With 16 off-street parking stalls, the building offers a parking ratio that's difficult to find in downtown Provo, easing a common pain point for tenants and customers alike. The property is located within walking distance of Provo's Downtown core, BYU, UVX Bus Stops, and the area's dense mix of restaurants, retail, and professional offices — offering strong visibility and steady foot and vehicle traffic.
Please inquire for additional information or to schedule a time to tour.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Building Size
15,768 SF
Building Class
C
Year Built
1942
Price
$5,059,080 CAD
Price Per SF
$320.84 CAD
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.10
Lot Size
0.33 AC
Opportunity Zone
Yes
Zoning
DT1 - DT1 - General Downtown Zone.
Provo Zoning Code: https://provo.municipal.codes/Code/14.21A
Parking
16 Spaces (1.01 Spaces per 1,000 SF Leased)
Frontage
Amenities
- 24 Hour Access
- Restaurant
- Signage
- Tenant Controlled HVAC
- Air Conditioning
Moderately walkable
60/100
Exceptionally drivable
90/100
Some public transit
50/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $2,437,955 CAD | |
| Land Assessment | $1,631,678 CAD | Total Assessment | $4,069,633 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$1,631,678 CAD
Improvements Assessment
$2,437,955 CAD
Total Assessment
$4,069,633 CAD
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242 N University Ave
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