1778 State StOrem, UT 84057
- Office properties
- 6,756 SF
Property Details for 1778 State St
- Year built
- 1992
- Lot size
- 1.15 AC
- Property size (Sq ft)
- 6,756 SF
- Property type
- Office properties
- Property subtype
- Office buildings
- APN
- 41-517-0001
- APU
- 415170001
Description
This exceptional two-story, Class B office building presents a compelling investment opportunity in Orem, Utah. Boasting 14,434 square feet of space, this multi-tenant property sits on a sizable 1.148-acre lot with convenient State Street frontage and access. Built in 1992, the building offers ample parking with a generous 3.69 spaces per 1,000 square feet (44 stalls total). The asking price is $2,650,000, translating to $183.59 per square foot. Its strategic location provides easy access to Interstate 15, just four minutes away, ensuring excellent visibility and convenient commuting for employees and clients. The property's size and location make it ideal for owner-occupiers seeking a substantial presence in a thriving Utah County market. The APN is 41:517:0001. This is a rare opportunity to acquire a well-maintained, established office building in a high-demand area. The property's features and location combine to offer a strong return on investment. Don't miss this chance to secure a valuable asset in a rapidly growing market.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,793,960
- 6.5%
- $1,655,963
- 7%
- $1,537,680
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,353,565
- Geo Method
- $1,353,565
-
Alternative Use
- Use
- Valuation
- Residential
- $2,053,394
- Hospitality
- $1,880,898
- Educational
- $1,564,885
- Medical
- $1,618,704
- Retail
- $2,434,265
Location Insight
- City
- Orem
- County
- Utah
- State
- Utah
- Latitude
- 40.3297
- Longitude
- -111.709
- CBSA code
- 39340
- CBSA name
- PROVO-OREM, UT METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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