Mixed-Use Retail and Office
1215 S MAIN ST Orem, UT 84059
1215 S MAIN ST, Orem, UT, 84059
$585,000
For Sale
$585,000
Standalone building with remodeled interior and 10 designated off-street parking spaces on Main Street.
Property Size2,195 SF
Price / SF$266.51
Days on Market21
Property Features for 1215 S MAIN ST
General Information
- Standard status
- Active
- Size
- 2,195 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1960
Listing agency
Core Utah Real Estate
(801) 473-6519
Listed by
Kevin Ford
(801) 473-6519
Source
Liftrealty
Added: Jul 1 Updated: Jul 21 at 7:38AM Checked: Jul 21 at 7:38AM
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 Core Utah Real Estate
Investment Insights
Based on property information with market context.
Standalone building offering split main-level and lower-level space, previously remodeled inside and suited for a variety of retail or professional office uses. The property is located on Orem Main Street next to a 4-way stop and includes a lit sign on the north side. The building is part of the Rowley Farm.
Parking includes 10 designated off-street spaces, with additional parking along the street directly to the west as needed. Zoning is Planned Development, described as allowing flexible, mixed-uses, and is noted as the same zoning used at University Mall and for most shopping along University Parkway.
For sale as an owner-user or partial owner-user with mixed tenants, or as a full investment option with multiple tenants. The seller indicates some furniture is available for inclusion, and certain items related to clearing the parking lot can be conveyed via separate bill of sale at closing. Appliances are included as well.
Parking includes 10 designated off-street spaces, with additional parking along the street directly to the west as needed. Zoning is Planned Development, described as allowing flexible, mixed-uses, and is noted as the same zoning used at University Mall and for most shopping along University Parkway.
For sale as an owner-user or partial owner-user with mixed tenants, or as a full investment option with multiple tenants. The seller indicates some furniture is available for inclusion, and certain items related to clearing the parking lot can be conveyed via separate bill of sale at closing. Appliances are included as well.
Key Highlights
- Standalone building (remodeled interior) originally built in 1960 with 2,195 SF split evenly between the main level and lower level
- 10 designated off‑street parking spaces, with additional parking available along the street to the west as needed
- Planned Development zoning (same as University Mall and most retail along University Parkway), designed for flexible mixed uses
Local Financial Insights For Retail
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 | $54.8k | $24.96 |
| − Vacancy | −$2.3k | −$1.05 |
| EGI | $52.5k | $23.91 |
| − OpEx | −$15.7k | −$7.17 |
| NOI | $36.7k | $16.74 |
2,195 SF · lease $24.96/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$524.9K
$459.3K – $612.3K
NOI $36,740 @ 7.0% cap · market cap 6.28%
Second Best
Office B
$440.3K
$385.2K – $513.6K
NOI $30,818 @ 7.0% cap · market cap 5.27%
Theoretical Best
Office A
$605.1K
$529.4K – $705.9K
NOI $42,355 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Law Office of Douglas ...
Law Firm
Philip G Jones ...
Law Firm
Utah Bankruptcy Guy
Law Firm
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Standalone building with remodeled interior and 10 designated off-street parking spaces on Main Street.
Where is this mixed-use property located?
The property is located at 1215 S MAIN ST Orem, UT.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Standalone building (remodeled interior) originally built in 1960 with 2,195 SF split evenly between the main level and lower level; 10 designated off‑street parking spaces, with additional parking available along the street to the west as needed; Planned Development zoning (same as University Mall and most retail along University Parkway), designed for flexible mixed uses
