Retail Building with Lease
286 West Center Street, Orem, UT 84057
Retail building for sale with existing and potential lease income.
Type:SCR
Property size:
4,495 SFPrice / SF:
$289/SF- Added:
- Apr 21, 2023
- Days on Market:
- 1133
- Last Refresh:
- Apr 3 at 5:05 am
Property Features for 286 West Center Street
General Information
- Standard status
- Active
- Size
- 4,495 SF
- Property subtype
- SCR
Building Details
- Year Built
- 1916
Listing agent Jeremy Congdon (801) 615-1162
Listing office KW Commercial | KW Westfield Keller Williams Real Estate | Jeremy Congdon (801) 615-1162
Listing date Apr 21, 2023
Source Realnex
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 KW Commercial | KW Westfield Keller Williams Real Estate | Jeremy Congdon
HighLights
- Top floor unit with 1,800 sq ft.
- Attractive rent of $1,800 per month.
- Seller will lease back the 4,495 sq ft main level at $5,000 per month.
- 3‑year lease term available.
- Building includes approximately 950 sq ft basement space.
- Building constructed in 1916.
Overview
This commercial property features a top floor with 1,800 square feet available for lease at $1,800 per month, with a MG (modified gross) lease structure and a 3-year lease term. The main level encompasses 4,495 square feet. The seller is willing to lease back this main level space at approximately $5,000 per month. Additionally, the building includes a basement area of approximately 950 square feet.
Financial Insights
Value Estimation Calculated for Retail
Conservative
$836.0K
NOI $75,238 @ 9.00% cap · cautious / downside scenario
Moderate
$1.07M
NOI $75,238 @ 7.00% cap · market / base-case scenario
Aggressive
$1.50M
NOI $75,238 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $112.2k | $24.96 |
| − Vacancy | −$4.7k | −$1.05 |
| EGI | $107.5k | $23.91 |
| − OpEx | −$32.2k | −$7.17 |
| NOI | $75.2k | $16.74 |
4,495 SF · lease $24.96/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Use Scenarios
Best Use
Retail
$1.07M
$940.5K – $1.25M
NOI $75,238 @ 7.0% cap · market cap 5.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.08M – $1.45M
NOI $86,736 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Orem
- County
- Utah
- State
- Utah
- Longitude
- -111.7026749
- Latitude
- 40.2979982
Nearby Similar for Sale
FAQs
What type of property is this?
Retail space - Retail building for sale with existing and potential lease income.
Where is this retail space located?
The property is located at 286 West Center Street Orem, UT.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Top floor unit with 1,800 sq ft.; Attractive rent of $1,800 per month.; Seller will lease back the 4,495 sq ft main level at $5,000 per month.
