495 University PkwyOrem, UT 84058

Property Details for 495 University Pkwy

Year built

2002

Lot size

1.31 AC

Property size (Sq ft)

7,105 SF

Property type

Office properties

Property subtype

Office buildings

APN

45-354-0004

APU

453540004

Description

This exceptional 4,575 square foot retail and office space is ideally situated at 495 W University Pkwy in Orem, Utah, zip code 84058. The property is classified as a single-tenant space within a traditional office building. The building offers a main level space currently available for lease on a short-term basis, with the lease commencing in the first quarter of 2025. This presents a unique opportunity for businesses seeking a flexible and strategically located space in a vibrant area of Orem. The property's address is easily accessible and benefits from high visibility due to its location on University Parkway. The property type is designated as both retail and office, making it suitable for a variety of business uses. The precise configuration and layout of the interior space can be provided upon request. Interested parties are encouraged to inquire further to discuss lease terms and explore the potential of this exceptional commercial property. The property's geographic coordinates are 40.2731789 latitude and -111.7070283 longitude. This short-term lease provides an excellent opportunity for businesses needing temporary space or those looking to test a new market.

• CAP approach

  CAP return

  Valuation

  6%

  $1,895,512

  6.5%

  $1,749,703

  7%

  $1,624,724

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,423,487

  Geo Method

  $1,423,487

• Alternative Use

  Use

  Valuation

  Residential

  $2,169,632

  Hospitality

  $1,987,371

  Educational

  $1,653,470

  Medical

  $1,710,335

  Retail

  $2,572,064

Location Insight

City

Orem

County

Utah

State

Utah

Latitude

40.2731

Longitude

-111.707

CBSA code

39340

CBSA name

PROVO-OREM, UT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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