Mixed-Use Retail and Office
For Sale
$569,500
1215 S MAIN ST, Orem, UT 84059
Standalone building with remodeled interior and 10 designated off-street parking spaces on Main Street.
Property Size2,194 SF
Price / SF$259.45
Days on Market67
Property Features for 1215 S MAIN ST
General Information
Standard status
Active
Size
2,194 SF
Total Parking Spaces
10
Property subtype
Retail
Zoning
Planned Development
Additional Details
Road Access
Yes
Building Details
Building Size
2,194 SF
Year Built
1960
Stories
2
Listing Agency:
Core Utah Real Estate
(801) 787-7255
Listed By:
Kevin Ford · License #6900510-SA00
(801) 473-6519
Source:
Liftrealty
Added: Jul 1
Changed: Sep 4
Last Checked: Sep 5 at 6:29AM
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
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$36,740
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.45%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$734,800
$734.8K
Cap Rate 7%
$524,857
$524.9K
Cap Rate 9%
$408,222
$408.2K
Market Conditions
NOI Build-Up for 2,195 SF
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.
Gross rent
$54.8K $24.96/SF
− Vacancy
−$2.3K −$1.05/SF
EGI
$52.5K $23.91/SF
− OpEx
−$15.7K −$7.17/SF
NOI
$36.7K $16.74/SF
Area
Utah County, UT
Vacancy
4.20%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$734,800
Cap Rate 7%
$524,857
Cap Rate 9%
$408,222
Alternative Uses
Best Use
Retail
$524.9K
$459.3K – $612.3K
NOI $36,740 @ 7.0% cap · market cap 6.45%
Second Best
Mixed Use
$275.2K
$240.8K – $321.0K
NOI $19,261 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$605.1K
$529.4K – $705.9K
NOI $42,355 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,464
Businesses Nearby
457k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 53%
Dining 23%
Home Improvements & Furnishings 9%
Apparel 8%
Hobby Lobby
Shops & Services
49,627 visits/mo
0.4 miles
T.J. Maxx
Apparel
37,962 visits/mo
0.3 miles
Five Below
Shops & Services
32,721 visits/mo
0.3 miles
Lowe's
Home Improvements & Furnishings
28,208 visits/mo
0.2 miles
Best Buy
Electronics
27,616 visits/mo
0.4 miles
Demographics for 84059, UT
15,567
Population
5,325
Households
2.9
Avg Household Size
25
Median Age
49%
College-Educated
97%
High-School Grad
5.3 sq mi
ZIP Area
2,937
Density / Sq Mi
$101,842
Median Household Income
$41,489
Median Earnings
$1,799
Median Rent
$509,900
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
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 $569,500.
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
