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    500 E Park Ave Orem, UT

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    For Lease
    $28 SF/Yr

    Class A office space for lease with on-site amenities.

    Property size:
    24,493 SF
    Lot size:
    1.17 Acres

    Property Features for 500 E Park Ave

    General Information

    Size
    24,493 SF
    Lot size
    1.17 Acres

    Source: Colliers | Salt Lake City Millrock Agent Brandon Fugal

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

    Overview

    Class A Office Space Available

    This Class A office space is available for lease, offering between 3,156 and 100,000 square feet within a 4-story building situated atop a 5-story parking structure. The property is ready for improvements, and four brand new spec suites are currently available. The lease rate ranges from $28.50 to $32.00 per square foot, with full service included. On-site amenities include a fitness center. The location benefits from 1.3 million square feet of retail space and 30 on-site restaurants. It is adjacent to Costco and Trader Joe's, and an on-site housing development is present. The property is located 1.6 miles from BYU (with 33,500 students) and 1.1 miles from UVU (with 41,000 students). Building 3, a planned 140,000 square foot 5-story building, is upcoming.
    Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Orem
    County
    Utah
    State
    Utah
    Longitude
    -111.7018452
    Latitude
    40.3150359

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    FAQs

    What type of property is this?
    Office space - Class A office space for lease with on-site amenities.
    Where is this office space located?
    The property is located at 500 E Park Ave Orem, UT.
    What is the lease rate?
    The lease rate is $28 SF/Yr.
    What are key features of this property?
    This property features: - Class A office space with flexible sizing from 3,156 to 100,000 Sq. Ft.; - Prime location with 1.3 Million Sq. Ft. of Retail and 30 On-Site Restaurants; - Conveniently located adjacent to Costco and Trader Joes
    (801) 947-8300
    Request Owner's contact information
    500 E Park Ave Orem, UT
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    Orem, UT
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    Realmo Value Estimation

    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.

    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.

    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
    500 E Park Ave Orem, UT
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