115 Geneva RdOrem, UT 84057

Property Details for 115 Geneva Rd

Year built

1960

Lot size

0.87 AC

Property size (Sq ft)

3,724 SF

Property type

Office properties

Property subtype

Office buildings

APN

18-017-0008

APU

180170008

Description

This exceptional 7,448 square foot traditional office building presents a unique opportunity for a single tenant. Located at 115 North Geneva Road in Orem, Utah, this two-story property boasts a flexible layout incorporating open space, private offices, a conference room, and a break room. The building's APN is 18:017:0008, and it's situated within Utah County. The lease rate is $16 per square foot, triple net (NNN). This property offers a distinct advantage with its adaptable design, catering to a variety of business needs. In addition to the main office building, there is also additional warehouse or flex space available at a separate location (111 N Geneva Road, Vineyard) for potential expansion or complementary operations. This secondary space comprises 13,000 square feet with a 20-foot clear height, phase 3 power, seven grade-level doors, 3,640 square feet of office space, 6,545 square feet of warehouse space, a 144 square foot mezzanine, and a two-story apartment. A storage shed is also included. The lease rate for this additional space is $1 per square foot, triple net (NNN). This combined offering provides a compelling opportunity for businesses seeking a comprehensive and adaptable workspace.

• CAP approach

  CAP return

  Valuation

  6%

  $988,859

  6.5%

  $912,793

  7%

  $847,594

• Comparable approach

  Method

  Valuation

  Relative Method

  $746,103

  Geo Method

  $746,103

• Alternative Use

  Use

  Valuation

  Residential

  $1,131,864

  Hospitality

  $1,036,781

  Educational

  $862,590

  Medical

  $892,255

  Retail

  $1,341,806

Location Insight

City

Orem

County

Utah

State

Utah

Latitude

40.2986

Longitude

-111.735

CBSA code

39340

CBSA name

PROVO-OREM, UT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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