Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    248 W Center St Orem, UT 84057

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office space with private offices, conference room, and breakroom.

    Property size:
    4,400 SF
    Lot size:
    1.86 Acres

    Property Features for 248 W Center St

    General Information

    Size
    4,400 SF
    Lot size
    1.86 Acres

    We can help!

    Listing Contact
    Bryant Parker
    Bryant Parker
    Source: Moodyscre

    Listing Agent: Bryant Parker

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Orem Office Space Available

    This office space, located in Orem, Utah, offers 4,400 square feet in Suite 100 of Building 5. The layout includes 5 private offices, a conference room, and a breakroom. The property benefits from its central Orem location, providing easy access to I-15. Ample parking is available. The space is equipped with a plug & pay setup. LED is scheduled for May 2026.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Orem Roofing Contractors Construction Company

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Orem
    County
    Utah
    State
    Utah
    Longitude
    -111.7014186
    Latitude
    40.2987523

    Nearby Similar for Lease

    • Contact for pricing
      42,689 SF

      Orem Warehouse Space for Lease

      Versatile warehouse space in Orem's industrial corridor.
      376 S Commerce Loop, Orem, UT 84058
      View Details
    • Contact for pricing
      42,689 SF

      Orem Industrial Space For Lease

      Versatile industrial facility with dock-high and ground-level doors in Orem.
      388 S Commerce Loop, Orem, UT 84057
      View Details
    • $1,200,000
      18,731 SF

      Remodeled Commercial Building in Orem

      Remodeled commercial building suitable for office, medical, retail, or school.
      536 S State St E, Orem, UT 84058
      View Details
    • Contact for pricing
      70,132 SF

      Renovated Retail Spaces Available

      Three newly renovated retail spaces available for lease in Orem.
      1160 S State St, Orem, UT 84097
      View Details
    • Contact for pricing
      16,659 SF

      Orem Office Park with Amenities

      Office space in a park-like setting with many amenities.
      701-749 Timpanogos Pkwy, Orem, UT 84097
      View Details
    • Contact for pricing
      100,000 SF

      The Forge at Geneva: Retail Spaces

      Prime Utah County Retail, Multiple Options Available
      800 Geneva Rd, Orem, UT 84057
      View Details
    • $28 SF/Yr
      24,493 SF

      Class A Office Space Available

      Class A office space for lease with on-site amenities.
      500 E Park Ave, Orem, UT
      View Details
    • $18 SF/Yr
      23,774 SF

      Orem Executive Office Suite Available

      2,200 SF Office Space in Prime Orem Location
      1177 800, Orem, UT 84097
      View Details
    • $13 SF/Yr
      1,668 SF

      Orem Office Space: Prime Location

      Professional office suite, 1,668 sq ft.
      960 800, Orem, UT 84057
      View Details
    • $25 SF/Yr
      7,227 SF

      University Place Office Space For Lease

      7,227 sq ft Class A Office Suite
      575 University Pkwy, Orem, UT 84097
      View Details
    • $28 SF/Yr
      46,286 SF

      Prime Orem Executive Office Suites

      Class A Office Space, 2 Suites Available
      1145 800, Orem, UT 84097
      View Details
    • $17 SF/Yr
      36,223 SF

      Prime Orem Office Space Available

      Modern Office Suites, 2,450 sq ft Available
      1875 State St, Orem, UT 84097
      View Details

    FAQs

    What type of property is this?
    Office space - Office space with private offices, conference room, and breakroom.
    Where is this office space located?
    The property is located at 248 W Center St Orem, UT.
    What are key features of this property?
    This property features: - Great central Orem location; - Easy access from I-15 and Orem; - 4,400 SF Suite
    (801) 610-1300
    Call for status update
    Request Owner's contact information
    248 W Center St Orem, UT 84057
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    248 W Center St
    Orem, UT 84057
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    248 W Center St Orem, UT 84057
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Bryant Parker
    Bryant Parker
    Real Estate License ID: 13058456-SA00
    (801) 610-1300
    Learn more
    Google sign-in failed. Please try again or use another login method.