Pioneer Medical Plaza

Pioneer Medical Plaza
Medical Office Condos for Sale
524 West 300 North
Provo, UT
Information
zz 13,900 SF “Class A” medical condos
zz New construction/renovation
zz All new systems
zz Sale price starting at $189.00/SF
zz $25/SF tenant improvement
allowance
Location Map
zz 6 blocks south of Utah Valley
Regional Medical Center (IHC)
TR
AVER
S
E
RIDGE RD
zz Space Available from 1,631 SF
ALPINE
ALP
INE
LOO
P
zz Lease rates from as low as
$15.00/SF NNN
LEHI
PIN
89
SITE
ST
HW
Y
18
9
E
AT
ST
GENEVA
RD
800 N
800 N
E
STAT
OREM
UNIVERSITY
ST
AVE
VINEYARD
8
Y6
HW
15
Freedom Blvd.
PLEASANT
GROVE
VD
BL
VE
RO
PLEASANT G
300 West
ST
500 E
STAT
E
TOGA
NGS
E LO
Y1
MAIN ST
REDWOOD RD
AL
OP
AMERICAN
FORK
HW
ST
IHC
100 E
STA
TE
100 E
MAIN ST
4
ON RD
CANY
OD RD
REDWO
ALPINE HWY
11000 N
500 West
HWY 92
14
HWY
300 North
UNIVERSITY PKWY
NE
GE
500 W
CENTER ST
UNIVERSITY AVE
D
R
VA
SITE
PROVO
15
PROVO
300 S
TE
STA
Center St.
ST
MAIN ST
1400 N
Peter Gordon
400 S
4000 S
HW
Y 89
MAPLE ST
6400 S
1600 W
6400 S
SPRINGVILLE
MAPLE ST
ST
AT
E
3200 W
ST
[email protected]
Dan Brandt
100 S
7300 S
300 S
HW
Y6
CANY
ON
RD
8000 S
MAIN ST
3600 W
98
Y1
HW
100 N
801.947.8300
www.coldwellutah.com
9
SPANISH
FORK
HWY 8
[email protected]
Kevin Long
[email protected]
6550 South Millrock Drive, Suite 200
Salt Lake City, Utah 84121
100 W
This statement with the information it contains is given with the understanding that all negotiations relating to the purchase, renting, or leasing of the property described above shall be
PAYSON
conducted through this
office. The above information while not guaranteed has been secured from sources we believe to be reliable. Owned and Operated by NRT LLC. ©2007
Y 19
8
800 S
Sample Suite Plan
Unit 2
1,785 RSF
Price: $337,394
Monthly rent: $2,231
First Floor
Unit 3
1,631 RSF
Price: $308,204
Monthly rent: $2,038
Unit 1
1,802 RSF
Price: $340,550
Monthly rent: $2,252
Unit 4
1,631 RSF
Price: $308,204
Monthly rent: $2,038
Peter Gordon
[email protected]
Dan Brandt
[email protected]
Kevin Long
[email protected]
801.947.8300
www.coldwellutah.com
Sample Suite Plan
Second Floor
Unit 6
1,809 RSF
Price: $397,938
Monthly rent: $3,014
Unit 7
1,717 RSF
Price: $377,735
Monthly rent: $2,861
Unit 5
1,809 RSF
Price: $397,938
Monthly rent: $3,014
Unit 8
1,717 RSF
Price: $377,735
Monthly rent: $2,861
Peter Gordon
[email protected]
Dan Brandt
[email protected]
Kevin Long
[email protected]
801.947.8300
www.coldwellutah.com
Sample Suite Plan
Approx. 4,400 SF
Peter Gordon
[email protected]
Dan Brandt
[email protected]
Kevin Long
[email protected]
801.947.8300
www.coldwellutah.com
10 Reasons Smart Money is Buying Real Estate
1. DEPRECIATION: The IRS allows you to depreciate assets. This makes lots of sense with automobiles and equipment
that lose value over time. With real estate the IRS still allows you to depreciate the improvement value over a 39 year
period. This depreciation comes as an offset to your personal income thus decreasing your tax bill and increasing your
bottom line.
2. APPRECIATION: Real estate has a strong historical record of increasing in value over time. When you own your own
commercial space you benefit directly from these increases in value. Do you rent your home? Then why rent your store
front?
3. FIXED PAYMENT: Tired of annual rent increases? Your payment can be fixed and never increase again. Think about
what you paid in rent ten years ago? Now imagine what it would be like to still be paying that same amount? By
purchasing your space you can fix your payment over the life of the loan.
4. LOWER MONTHLY PAYMENTS: Your payments* would be approximately $867 per month for 1,000 square feet.
Rent for the same 1,000 square feet would be $1,167. This $300 per month savings is before tax benefits.
5. ACCESS TO CAPITAL: As your business grows and your need to invest additional capital into your inventory or
equipment occurs you are usually able to access the increased value in your growing equity as a secured line of credit.
This equity, and associated lower interest rate, is not available to renters.
6. FORCED SAVINGS ACCOUNT: Not only are your monthly payments less, but a portion of each payment goes to pay
down the principle of the original loan. This forced savings account increases your net worth with every payment you
make. Every year the amount of your payment that comes back to you as principle reduction increases.
7. BUILT-IN RETIREMENT ACCOUNT: If I may, I would like to share with you a personal story. My parents worked
their entire life building their business, a small community newspaper and print shop. Like most small business owners
they invested everything they had in their business. When the opportunity afforded itself, they purchased the real
estate associated with the business. They also acquired the buildings on either side. When my father approached
his retirement years he began training his editor to purchase the business. At the age of 66 he sold the business on
contract with a reasonable down payment and tied the new owner to a long-term lease. They began living the dream
retirement funded by the contract payments from the sale of their business. Three years later the new owner failed
and destroyed the business. Today my parents still live a comfortable retirement funded by the rental income from the
commercial real estate they had purchased while in business.
8. CONTROL: As a tenant you pay whatever expenses your landlord imposes on you. This cuts both ways. Sometimes
you are exposed to special assessments without any input. Other times you want the parking lot re-striped, but your landlord may not want to keep up his property as nicely as you wish. As an owner you will be a voting member of
the owners association. You will determine when and what repairs to perform or defer. As prudent managers you will
likely plan for the future and keep reserves in the association account (as opposed to taking them as landlord windfall
profits) and will be prepared for necessary maintenance when it arises.
9. FLEXIBILITY: Many small business owners experience success. Circumstances may change and the business’ real estate
needs may increase. It is a common misconception that leases provide more flexibility. This is not necessarily true.
Recently a group of three doctors decided to combine their practice into one large cooperative. They each owned their
own condominiums in an office condominium project. It was cumbersome trying to practice together in three separate
suites. Their solution: They sold their individual units, took their profits and purchased a full floor in a Class A office
condominium building. They now have one of the most successful specialty practices in Salt Lake County.
10. LOWER TRUE COSTS: Please ask us to prepare a customized Lease vs. Buy analysis for you or your client. This analysis
compares the actual after tax benefits of ownership. Typically someone purchasing space for $150 per SF as opposed
to leasing space at $14.00 per SF will see significant after tax savings.
*This scenario assumes a 20% down payment, 7.5% interest and a 25 year term
©2008 - Pleasant Grove Holdings
Peter Gordon
[email protected]
Dan Brandt
[email protected]
Kevin Long
[email protected]
801.947.8300
www.coldwellutah.com