1778 State StOrem, UT 84057

Property Details for 1778 State St

Year built

1992

Lot size

1.15 AC

Property size (Sq ft)

6,756 SF

Property type

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.

• 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

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