Add Listing
    For Sale
    • 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

    1632-1658 S State St Orem, UT

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    3,800 SF remodeled space available for lease.

    Type:RETAIL
    Property size:
    3,800 SF
    Lot size:
    1.42 Acres
    Price / SF:
    $2,145/SF
    Added:
    Feb 24, 2023
    Days on Market:
    1154
    Last Refresh:
    Apr 5 at 10:02 pm

    Property Features for 1632-1658 S State St

    General Information

    Standard status
    Active
    Size
    3,800 SF
    Lot size
    1.42 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Shad Webb
    Shad Webb

    Listing agent Shad Webb

    Listing office Mountain West - Corporate

    Listing date Feb 24, 2023

    Source Moodyscre

    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 Mountain West - Corporate

    Overview

    Remodeled Space on State Street

    A 3,800 square foot space is available for lease at a rate of $15.00 NNN. The building, totaling 37,912 square feet, has been mostly remodeled. The space is suitable for summer sales, a gym, or professional office use. A State Street pole sign is available. The property is located 4 minutes from Utah Valley Hospital and is also close to both BYU and UVU, as well as many amenities and services.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Orem
    County
    Utah
    State
    Utah
    Longitude
    -111.683
    Latitude
    40.2671

    Nearby Similar for Sale

    • $915,000
      3,348 SF

      Orem Multifamily Investment Opportunity

      Four-unit multifamily property in a convenient Orem location.
      225 W 1030 N, Orem, UT 84057
      View Details
    • $915,000
      3,348 SF

      Orem Multifamily Investment Opportunity

      Multifamily property in prime Orem location with updated units.
      225 W 1030 N, Orem, UT 84058
      View Details
    • $910,000
      3,492 SF

      Orem Fourplex Near UVU

      Well-maintained fourplex in Orem, near UVU with upgrade potential.
      1068 S ELLEN Cir, Orem, UT 84058
      View Details
    • $749,900

      Remodeled Commercial Building in Orem

      Remodeled commercial building with high visibility and freeway access.
      835 W 400 N, Orem, UT 84057
      View Details
    • $525,000
      1,560 SF

      Orem Duplex in Prime Location

      Side-by-side duplex in Orem, ideal for investors or owner-occupiers.
      114 E 500 N, Orem, UT 84057
      View Details
    • $499,000
      1,800 SF

      Orem Duplex: Income and Upside

      Duplex in Orem with updated units and income potential.
      1520 S 280 E, Orem, UT 84058
      View Details
    • $570,000

      Orem Medical Office Space

      Prime medical office space near two hospitals in Orem.
      421 N OREM Blvd, Orem, UT 84057
      View Details
    • $3,880,000
      16,560 SF

      Orem Multifamily Townhomes For Sale

      Eight fully leased townhomes near UVU and BYU.
      1913 S 1030 W, Orem, UT 84058
      View Details
    • $1,149,998
      4,158 SF

      Orem Fourplex with Recent Renovations

      Well-maintained Orem fourplex with significant recent capital improvements.
      232 N 250 E, Orem, UT 84057
      View Details
    • $1,950,000

      Orem Commercial Building on State

      Retail, office, and warehouse space in central Orem.
      1797 S STATE St, Orem, UT 84097
      View Details
    • $1,349,999
      4,152 SF

      Remodeled Fourplex Near University Place

      Remodeled fourplex near shopping, BYU, and UVU campuses.
      1531 S 450 St E, Orem, UT 84058
      View Details
    • $2,895,620
      5,217 SF

      Orem Office For Sale

      16,510 SF office space available in Orem, Utah.
      1095 S 800 E, Orem, UT 84097
      View Details

    FAQs

    What type of property is this?
    Retail space - 3,800 SF remodeled space available for lease.
    Where is this retail space located?
    The property is located at 1632-1658 S State St Orem, UT.
    What is the asking price?
    The asking price for this property is $8,151,080.
    What are key features of this property?
    This property features: Remodeled building ideal for summer sales, gym, or professional office use; High‑visibility location with State Street pole sign available; Strategic location minutes from BYU and UVU
    (801) 456-8800 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Shad Webb
    Shad Webb
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!