Office/Medical Condo
103-240 N 1200 E Lehi, UT 84043
For Sale
$698,000
Move-in-ready office/medical condo with renovated interiors, high ceilings, and seven private offices.
Property Size2,410 SF
Price / SF$289.63
Days on Market272
Property Features for 103-240 N 1200 E
General Information
Standard status
Active
Size
2,410 SF
Listing Agency:
Town & Country Apollo Properties, LLC
(801) 372-1658
Listed By:
Lynn C Fillmore · License #5478881-PB00
(801) 372-1658
Source:
Exprealty
Added: Oct 31, 2025
Changed: Jul 28
Last Checked: Jul 28 at 6:13PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Town & Country Apollo Properties, LLC
Investment Insights
Based on property information with market context.
A main-floor office/medical condominium offering 2,410 square feet of renovated, move-in-ready space. The layout includes seven private offices, six with exterior windows, plus a large open common area suited for collaboration or client reception. Additional improvements include a kitchen break room with ice maker, sink, and purified water filter, along with network setup and upgraded lighting. The suite features tall 12.5-foot ceilings, ample windows, and fire sprinklers throughout, and it is served by fiber high-speed internet.
The unit includes two convenient entrances and is located within a professional building with an upgraded marble-tiled lobby and large, well-maintained restrooms. The property is described as being about one minute from freeway access, east of the freeway, with nearby retail and dining options including Costco.
Recent renovations were completed in March 2025, with more than $30,000 in updates such as new paint, new carpet, added lighting, network setup, and a newly constructed wall to enhance the layout.
The unit includes two convenient entrances and is located within a professional building with an upgraded marble-tiled lobby and large, well-maintained restrooms. The property is described as being about one minute from freeway access, east of the freeway, with nearby retail and dining options including Costco.
Recent renovations were completed in March 2025, with more than $30,000 in updates such as new paint, new carpet, added lighting, network setup, and a newly constructed wall to enhance the layout.
Key Highlights
- 2,410 SF main‑floor office/medical condominium renovated in March 2025 with $30,000+ in upgrades
- 7 private offices, including six with exterior windows for natural daylight, plus a large open common area for client reception or collaboration
- Tall 12.5‑foot ceilings, ample windows, and fire sprinklers throughout for a bright, open, and safety‑focused work environment
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $57.8k | $24.00 |
| − Vacancy | −$12.7k | −$5.28 |
| EGI | $45.1k | $18.72 |
| − OpEx | −$11.3k | −$4.68 |
| NOI | $33.8k | $14.04 |
2,410 SF · lease $24.00/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$483.4K
$423.0K – $563.9K
NOI $33,836 @ 7.0% cap · market cap 4.85%
Second Best
Healthcare Medical
$415.0K
$363.1K – $484.2K
NOI $29,049 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$664.3K
$581.3K – $775.1K
NOI $46,503 @ 7.0% cap · market cap 6.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office units - Move-in-ready office/medical condo with renovated interiors, high ceilings, and seven private offices.
Where is this office units located?
The property is located at 103-240 N 1200 E 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: 2,410 SF main‑floor office/medical condominium renovated in March 2025 with $30,000+ in upgrades; 7 private offices, including six with exterior windows for natural daylight, plus a large open common area for client reception or collaboration; Tall 12.5‑foot ceilings, ample windows, and fire sprinklers throughout for a bright, open, and safety‑focused work environment
