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    240 N 1200 E, Unit 103 Lehi, UT 84043

    View on Map
    Sponsored
    For Sale
    $698,000

    COMMERCIAL - Lehi, UT

    Type:Office
    Property size:
    2,410 SF
    Lot size:
    0.05 Acres
    Days on Market:
    33
    Last Refresh:
    Mar 10 at 6:06 am

    Property Features for 240 N 1200 E

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Standard status
    Active
    APN
    65-528-0015
    Size
    2,410 SF
    Lot size
    0.05 Acres

    Building Details

    Year built
    2015

    We can help!

    Listing Contact
    Lynn C Fillmore

    Town & Country Apollo Properties LLC (801) 372-1658

    Listing agent Lynn C Fillmore (801) 372-1658

    Listing date Feb 5, 2026

    MLS# 2120610

    Copyright © 2026 UtahRealEstate.com. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Lehi Office/Medical Condo For Sale

    This 2,410 square foot main-floor office/medical condominium is located in a central Lehi location, one minute from freeway access and near restaurants and Costco. The office features tall 12.5-foot ceilings, ample windows, and fire sprinklers. It includes seven private offices, six of which have exterior windows and natural daylight. There is also a large open common area and a kitchen break room with an ice maker, sink, and Culligan purified water filter. The unit has two entrances and is located within a professional building featuring a marble-tiled lobby and maintained restrooms. Fiber high-speed internet is available. Renovations completed in March 2025 included over $30,000 in upgrades, such as new paint, new carpet, added lighting, network setup, and a newly constructed wall to enhance the layout. Situated on a lot of approximately 0.05 acres, this office condo is suitable for any business seeking a professional workspace.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hardwood & Laminate Flooring ... Construction Company Coopers Hollow Office ... Plumbing Service Bloom Built, Inc. Corporate Office Movement Clinic Medical Clinic Low VA Rates ... Loan Service

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Banfield Pet Hospital

    Location Insight

    • Map
    • Local Demand
    City
    Lehi
    County
    Utah
    State
    Utah
    Longitude
    -111.828647
    Latitude
    40.3913112

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    FAQs

    What type of property is this?
    Medical Office Space - Move-in ready office/medical condo in prime Lehi location.
    Where is this medical office space located?
    The property is located at 240 N 1200 E, Unit 103 Lehi, UT.
    What is the asking price?
    The asking price for this property is $698,000.
    What are key features of this property?
    This property features: - Prime central location with immediate freeway access and proximity to restaurants and Costco.; - Recently renovated in March 2025 with $30,000 in upgrades including new paint, carpet, lighting, and network setup.; - 2,410 Sq Ft office/medical condominium with seven private offices (six with exterior windows).
    (801) 372-1658
    Request Owner's contact information
    240 N 1200 E, Unit 103 Lehi, UT 84043
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    Lehi, UT 84043
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    240 N 1200 E, Unit 103 Lehi, UT 84043
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    We can help!
    Listing Contact
    Lynn C Fillmore
    (801) 372-1658 (801) 224-1559
    Learn more
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