For Sale
$3,500,000

899 Industrial Park RdOrem, UT 84057

High-Yield Utah Warehouse, 24,206 SF

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional investment opportunity presents a 24,206-square-foot warehouse in Orem, Utah, boasting a strong 4.94% cap rate and a substantial net operating income (NOI) of $172,800. The property, situated on a 1.73-acre lot at 899 Industrial Park Rd, 84057, comprises four buildings constructed in 1975. Currently leased to Gerber Collision & Glass under a NNN lease with 2.8 years remaining until expiration (August 26, 2027), this single-tenant property offers significant rental growth potential. The property benefits from a prime location, just 500 feet from I-15 Exit 272, providing easy access to major transportation arteries like I-15 and Canyon Parkway. Utah County's low 2.00% vacancy rate ensures minimal vacancy risk, making this a secure and attractive investment. The below-market rental rates present a compelling value-add opportunity for a savvy investor. This is a rare chance to acquire a well-located, income-producing industrial asset in a thriving Utah market. The lease commenced on April 26, 2017, and has a total term of 10.3 years.

Highlights

  • $3,500,000 asking price for a 24,206 SF industrial warehouse in Orem, UT.
  • 4.94% cap rate with a $172,800 NOI.
  • NNN lease with Gerber Collision & Glass, with 2.8 years remaining on a 10.3-year lease.
  • Located on a 1.73-acre lot at 899 Industrial Park Rd, Orem, UT 84057, near I-15 Exit 272.
  • Property consists of four buildings built in 1975.

Property Details for 899 Industrial Park Rd

Property type
Warehouses, Industrial properties
Square Feet
24,206 SF
Year Built
1975
Buildings
4
Lot Size (sq. ft)
75,359 SF

Location Insight

City
Orem
County
Utah
State
Utah
Latitude
40.31382906
Longitude
-111.72844242
899 Industrial Park Rd, Orem, Utah

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899 Industrial Park Rd
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