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29961184
29961185

1455-1481 S. State Street, Orem, UT 84097

BS
UT 9493678-SA00
Summit Commercial Advisors
MS
UT 5454081-PO00
Summit Commercial Advisors
Listed by Summit Commercial Advisors
$3,430,000
99 days on market
Updated 51 days ago

Orem Office/Retail

Details
APN 190170052
Property Type Office
Sub Type Traditional Office
Square Footage 15,793
Cap Rate 7.50%
Occupancy 75%
Tenancy Multi
Lease Type Gross
Price per SqFt $217
Class B
Year Built 1968
Buildings 2
Stories 1
Zoning C2
Sale Condition For sale by owner

CAP Rate based upon Pro-Forma

Marketing description

Located at 1455–1481 S. State Street in Orem, this investment opportunity includes two well-maintained buildings totaling 15,796 square feet on a 1.23-acre parcel with 62 parking spaces. Building 1 (11,718 SF) at 1455 S. State Street is currently configured into five tenant suites, features two sets of common area restrooms, and is suitable for both office and retail uses. Building 2 (4,078 SF) at 1481 S. State Street is a stand-alone structure offering nine private offices, a reception area, conference room, and open bullpen, and includes prominent signage on State Street; it is also suitable for office or retail occupancy. Both buildings offer excellent frontage and signage opportunities along State Street, which sees an average daily traffic count of approximately 49,000 vehicles. The sale includes existing billboard income through Reagan Signs and a telecommunications lease with Fibernet, providing additional revenue streams. Zoned C-2, Orem’s broadest commercial designation, the property is currently vacant with below-market rents, offering significant upside potential for investors or owner-users. Listing Price: $3,430,000.

Investment highlights

Sale includes two buildings on a single 1.23-acre parcel. Site includes 62 parking spaces. Both buildings offer frontage and signage possibilities on State Street in Orem with an average daily traffic count of 49,000 cars daily. The sale includes

a billboard lease with Reagan Signs and a telecommunications lease with Fibernet. Zoned C-2, Orem’s broadest

commercial zone. Vacant and below market rents offer upside potential for new owners.

Listing Contacts

BS
UT 9493678-SA00
Summit Commercial Advisors
MS
UT 5454081-PO00
Summit Commercial Advisors
Listed by Summit Commercial Advisors

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Additional Information

Name
Bill Street
License
9493678-SA00
Name
Mary Street
License
5454081-PO00
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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