1959 N State St
6.2% Cap | High-Visibility Retail w/ Premier Frontage on State St.
Marketing description
Strategic commercial asset located on the highly traveled State Street corridor on the Provo-Orem hill. Positioned within a premier Professional Office Park, this durable brick-construction building features a lifetime tile roof, exceptional curb appeal, and prominent pylon signage offering maximum visibility along a major regional commuter vein. The property offers a highly versatile layout, historically operating as a physician’s office, professional office space, and its current configuration as a commercial salon space. Operates under a strict Triple Net (NNN) lease framework. Tenants are directly responsible for their respective property taxes, insurance, HOA dues, and operational maintenance. The ground level is fully occupied by an established tenant on a stable 3-year renewable lease.
Investment highlights
Strong Financial Performance: Attractive 6.2% Cap Rate with a stable $64,000 Net Operating Income (NOI).
Built-In Inflation Hedge: Existing lease features consistent annual rent escalations ensuring long-term income growth.
Prime Commercial Corridor: Exceptional exposure along the high-traffic State Street connecting Orem and Provo.
Premium Street Visibility: Features direct, unobstructed street frontage paired with prominent on-site pylon signage.
Passive Income Structure: True NNN lease framework minimizes landlord management and operational responsibilities.
Ample On-Site Parking: Generous dedicated surface parking accommodates high-volume customer and tenant traffic.
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