1645 1600Orem, UT 84057

Property Details for 1645 1600

Year built

1986

Lot size

17.96 AC

Property size (Sq ft)

6,377 SF

Property type

Other commercial real estate

Property subtype

Showrooms

APN

17-022-0015

APU

170220015

Description

This exceptional commercial land lease presents a unique opportunity in the thriving city of Orem, Utah. Located at 1645 W 1600 N St, this property offers a flexible lease of between 1 and 4.16 acres of raw land, zoned HS. The property's address is further identified by its cross street, Geneva Road, a high-traffic thoroughfare boasting an average daily traffic count (AADT) exceeding 16,000 vehicles in 2022, with projections nearing 25,000 vehicles daily in 2024. This significant traffic volume ensures exceptional visibility and accessibility for any commercial venture. The property's APN is 17:022:0024. The site is ideal for a variety of commercial uses, making it an attractive investment for businesses seeking a prominent location with high visibility and substantial traffic flow. This is a single-tenant lease opportunity, providing exclusive use of the leased acreage. The property is situated in Orem, UT, 84057, offering easy access to local amenities and a strong regional economy. Don't miss this chance to secure a prime location for your commercial development. Contact us today to learn more about this exceptional leasing opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $2,489,184

  6.5%

  $2,297,709

  7%

  $2,133,587

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,219,632

  Geo Method

  $3,219,632

• Alternative Use

  Use

  Valuation

  Residential

  $1,938,203

  Hospitality

  $1,775,384

  Educational

  $1,477,098

  Medical

  $1,527,898

  Retail

  $2,297,709

Location Insight

City

Orem

County

Utah

State

Utah

Latitude

40.325

Longitude

-111.736

CBSA code

39340

CBSA name

PROVO-OREM, UT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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