848 980Orem, UT 84057

Property Details for 848 980

Year built

2008

Lot size

0.11 AC

Property size (Sq ft)

4,877 SF

Property type

Medical offices

Property subtype

Medical centers

APN

42-069-0105

APU

420690105

Description

Exceptional medical office condo available for lease in Orem, Utah. This single-tenant space, totaling 5,777 square feet, is situated within the desirable Il Centro Piazza Development. Built in 2008 and renovated in 2019, the building boasts a total of 124,530 square feet across three stories. The property features convenient ground-level access, ample parking (400 spaces), and elevators. The suite's current configuration includes 16 exam rooms, multiple procedure rooms, and staff areas, making it ideal for a variety of medical practices. Its location offers unparalleled convenience, with direct access to I-15 and proximity to Timpanogos Regional Hospital. The property is zoned commercial and located in Utah County at 848 N 980 W, Orem, UT 84057. A significant advantage is the owner's right to install building signage facing 800 North, providing excellent visibility and branding opportunities. This is a fully built-out space ready for immediate occupancy. The building is part of a larger complex with one building.

• CAP approach

  CAP return

  Valuation

  6%

  $1,295,021

  6.5%

  $1,195,404

  7%

  $1,110,018

• Comparable approach

  Method

  Valuation

  Relative Method

  $977,107

  Geo Method

  $977,107

• Alternative Use

  Use

  Valuation

  Residential

  $1,482,301

  Hospitality

  $1,357,780

  Educational

  $1,129,657

  Medical

  $1,168,507

  Retail

  $1,757,244

Location Insight

City

Orem

County

Utah

State

Utah

Latitude

40.3129

Longitude

-111.718

CBSA code

39340

CBSA name

PROVO-OREM, UT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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