338 State RdAmerican Fork, UT 84003

Property Details for 338 State Rd

Year built

1998

Lot size

2.38 AC

Property size (Sq ft)

37,588 SF

Property type

Retail properties

Property subtype

Strip malls

APN

02-012-0032

APU

20120032

Description

This exceptional American Fork, Utah commercial property, located at 338 E State Rd, presents a compelling investment opportunity. The 37,588 square foot building, constructed in 1998, sits on a single lot (APN 02-012-0032) and features two stories. Currently operating at 100% occupancy with multiple tenants, this property offers a strong, stable income stream. The building is zoned for commercial use and boasts a net lease structure. Financial projections indicate a pro-forma NOI of $480,000 and a pro-forma cap rate of 7.74%, representing a significant return on investment. The property is categorized as hospitality, office, retail, and special purpose, with subtypes including religious/church, school, and traditional office, offering considerable flexibility for future use. The asking price is $6,200,000. The property consists of one building with five units. Approximately 30,000 square feet is currently available for lease. This is a value-add investment opportunity suitable for both owner-users and investors seeking a high-performing asset in a desirable location. The property's versatility and strong occupancy make it an attractive prospect for a wide range of buyers.

• CAP approach

  CAP return

  Valuation

  6%

  $14,671,928

  6.5%

  $13,543,318

  7%

  $12,575,938

• Comparable approach

  Method

  Valuation

  Relative Method

  $18,977,504

  Geo Method

  $18,977,504

• Alternative Use

  Use

  Valuation

  Residential

  $11,424,296

  Hospitality

  $10,464,593

  Educational

  $8,706,419

  Medical

  $9,005,846

  Retail

  $13,543,318

Location Insight

City

American Fork

County

Utah

State

Utah

Latitude

40.3741

Longitude

-111.79

CBSA code

39340

CBSA name

PROVO-OREM, UT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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