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491 S FREEDOM BLVD, Provo, UT 84601
Reduced from $695,000 · 4 days ago
491 S FREEDOM BLVD, Provo, UT 84601
Units
2
Price/Unit
$329,500
Price/Sqft
$300
Est Gross Yield
4.4%
$28,992/yr est.
| Type | Count | Beds | Baths | Sqft | Rent/Mo |
|---|---|---|---|---|---|
| 2BR / 2BA | 1 | 2 | 2 | 1,100 | — |
| Unit 2 | 1 | 0 | 1 | 1,100 | — |
| Total | 2 | 2 | 3 | 2,200 | — |
Unit mix data is reported by the seller or listing agent through the MLS and may be inaccurate or incomplete. Buyers should independently verify all information and conduct their own due diligence before making any investment decisions.
Live Upstairs. Build Your Business Downstairs. Own Your Future. This is one of the most unique opportunities currently available in downtown Provo. With both the residential condo and the commercial space now completely vacant, the next owner has a blank canvas to create exactly the lifestyle and business they've been dreaming about. Located just minutes from BYU, Downtown Provo, Provo Towne Centre, the FrontRunner station, TRAX connections, I-15, restaurants, shopping, and entertainment, this rare mixed-use property offers flexibility that's incredibly difficult to find. The upper level features a bright and updated 2-bedroom, 1-bath residence with an open layout, modern finishes, abundant natural light, and a comfortable space to call home. Downstairs is approximately 1,100 square feet of commercial space, ready for your vision. Whether you've dreamed of opening a boutique, coffee shop, bakery, salon, fitness studio, creative office, photography studio, wellness practice, retail storefront, or professional office, this location gives you the opportunity to work where you live-with your commute measured in steps instead of miles. For investors, the possibilities are just as exciting. Lease both spaces separately, occupy one while generating income from the other, or create a long-term mixed-use investment in one of Utah County's fastest-growing markets. Property highlights include: Mixed-use zoning with residential and commercial flexibility Both units vacant and ready for immediate occupancy Separate entrances for residential and commercial spaces Separate gas and power meters Separate water heaters Excellent visibility along Freedom Boulevard Minutes from BYU and Downtown Provo Convenient access to FrontRunner, TRAX connections, UVX Bus Rapid Transit, and I-15 High-demand location surrounded by housing, restaurants, retail, and local businesses Opportunities like this rarely become available. Whether you're an entrepreneur ready to invest in yourself, a business owner looking to eliminate a daily commute, or an investor searching for a one-of-a-kind asset, this property delivers flexibility, convenience, and long-term potential in one of Provo's most desirable locations. Schedule your private showing today. Buyer to verify all information. Square footage figures are provided as a courtesy estimate only and were obtained from county records. Buyer is advised to obtain an independent measurement.
Listed by Jessica Williams · Real Broker, LLC
491 S FREEDOM BLVD, Provo, UT 84601
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Cap Rate
2.93%
Cash-on-Cash
-4.67%
Cash Flow
-$962/mo
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Pro forma estimates are based on assumptions, not guaranteed, and should not be relied upon.
DISCLAIMER: The information provided on this website, including property details, pricing, projections, and availability, is for informational purposes only and may change without notice. While Canovo Group, LLC strives to maintain accurate and up-to-date information, we do not guarantee its completeness or accuracy. Users should independently verify all information and property details, including availability and any leasing conditions, with the listing agent or property owner before making any decisions. Canovo Group, LLC is not responsible for any errors, omissions, or third-party content and makes no representations or warranties regarding the properties listed. Neither Canovo Group, LLC nor its affiliates are acting as your real estate agent or broker, nor do we represent or endorse any properties or parties unless expressly stated in a separate written agreement. This website is not an offer or solicitation to buy, sell, or lease any property. All transactions are the sole responsibility of the parties involved.
© 2026 UtahRealEstate.com. All rights reserved. Based on information from the Wasatch Front Regional Multiple Listing Service, Inc. as of 8/6/2026, 9:33:29 PM. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or the MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Listing data provided by UtahRealEstate.com.