1657 State StLehi, UT 84043

Property Details for 1657 State St

Year built

1993

Lot size

2.00 AC

Property size (Sq ft)

39,101 SF

Property type

Office buildings

APN

53-128-0011

APU

531280011

Description

This exceptional 40,426-square-foot industrial property, located at 1657 N State St, Lehi, UT 84043, presents a unique opportunity. Situated in Utah County, this two-story building offers a blend of manufacturing and flex space, ideal for a variety of businesses. The property underwent a complete renovation in 2023, showcasing modern amenities and functionality. High-power capabilities are a key feature, with approximately 1800 amps at 480/250/240 volts, reflecting its previous use as a woodshop. Loading and unloading are simplified by three 8x8 dock-high doors and two 16-foot wide by 14-foot tall drive-in doors, accommodating diverse material sizes. The expansive space includes approximately 6,400 square feet of dedicated office space, complemented by areas currently utilized as a gym and large training/event spaces, offering versatile options for tenants. Ample parking is provided with 74 spaces. The location is highly strategic, just south of Thanksgiving Point and conveniently situated off I-15, providing easy access to both Salt Lake and Utah Counties. This single-tenant property is ready for immediate occupancy.

• CAP approach

  CAP return

  Valuation

  6%

  $10,382,610

  6.5%

  $9,583,948

  7%

  $8,899,380

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,833,886

  Geo Method

  $7,833,886

• Alternative Use

  Use

  Valuation

  Residential

  $11,884,095

  Hospitality

  $10,885,768

  Educational

  $9,056,831

  Medical

  $9,368,309

  Retail

  $14,088,403

Location Insight

City

Lehi

County

Utah

State

Utah

Latitude

40.4079

Longitude

-111.864

CBSA code

39340

CBSA name

PROVO-OREM, UT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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