151 3450Spanish Fork, UT 84660

Property Details for 151 3450

Year built

2001

Lot size

13.51 AC

Property size (Sq ft)

216,098 SF

Property type

Office properties

Property subtype

Office buildings

APN

40-390-0002

APU

403900002

Description

This exceptional Class A industrial property, located at 151 E 3450 N in Spanish Fork, Utah, presents a compelling investment opportunity. The 212,685-square-foot facility, built in 2001 and renovated in 2024, sits on an 11.26-acre lot and features a single, 100% occupied tenant under a net lease. The building boasts 13 dock-high doors and a 28-foot ceiling height, ideal for manufacturing and warehouse operations. Its strategic location offers excellent I-15 visibility and access, further enhanced by the planned I-15/2700 North Interchange (completion in 2026), providing direct north and south access. The property is zoned LI and comprises one, two-story building. The lease has 12 years remaining with annual rent increases of 3%, providing consistent, passive income. This investment benefits from its location in Utah County, a region experiencing significant industrial development, housing growth, and job creation, representing 39% of the state's population growth in 2023. This property offers a secure, high-return investment in a thriving market.

• CAP approach

  CAP return

  Valuation

  6%

  $57,652,308

  6.5%

  $53,217,516

  7%

  $49,416,264

• Comparable approach

  Method

  Valuation

  Relative Method

  $43,295,236

  Geo Method

  $43,295,236

• Alternative Use

  Use

  Valuation

  Residential

  $65,989,720

  Hospitality

  $60,446,228

  Educational

  $50,290,552

  Medical

  $52,020,120

  Retail

  $78,229,744

Location Insight

City

Spanish Fork

County

Utah

State

Utah

Latitude

40.1551

Longitude

-111.654

CBSA code

39340

CBSA name

PROVO-OREM, UT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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