195 Orem BlvdOrem, UT 84058

  • Office properties
  • 6,170 SF
For Sale
$1,200,000 View listing

Property Details for 195 Orem Blvd

Year built
1992
Lot size
0.40 AC
Property size (Sq ft)
6,170 SF
Property type
Office properties
Property subtype
Office buildings
APN
18-007-0121
APU
180070121

Description

This exceptional two-story, 6,170 square foot Class B office building in Orem, Utah, presents a compelling investment opportunity. Located at 195 S Orem Blvd, this fully occupied (100%) multi-tenant property boasts a strong net operating income (NOI) of $78,826, generating a 6.57% cap rate. The asking price is $1,200,000, translating to $194.49 per square foot. Built in 1992, the building sits on a 0.4-acre lot and features recently updated lobbies and interior suites, enhancing its appeal to tenants. A prominent monument sign on Orem Blvd ensures high visibility. The property's central location provides easy access to major roadways and public transportation, benefiting from Orem's thriving economy and proximity to Utah Valley University. The property's features include one building, a triple net (NNN) lease type, and a total of 6,170 square feet of space. The APN is 180070121. This is a turnkey investment ready to generate immediate income. The property's strong occupancy and positive cash flow make it an attractive addition to any investment portfolio.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,646,065
    6.5%
    $1,519,445
    7%
    $1,410,913
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,236,160
    Geo Method
    $1,236,160
  • Alternative Use

    Use
    Valuation
    Residential
    $1,884,111
    Hospitality
    $1,725,836
    Educational
    $1,435,875
    Medical
    $1,485,257
    Retail
    $2,233,584
195 Orem Blvd, Orem, Utah

Location Insight

City
Orem
County
Utah
State
Utah
Latitude
40.2936
Longitude
-111.696
CBSA code
39340
CBSA name
PROVO-OREM, UT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$7,207
-
-
$947,200
-
$283,300
$663,900
$947,200

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