Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Renovated Office Building with Parking Title is generated by Realmo AI

    135 S Mountain Way Dr, Orem, UT 84058

    View on Map
    Claim this Listing
    New
    For Sale
    Contact for pricing

    Turnkey, fully renovated office building with modern amenities and extensive on-site parking for tenant or investor use.

    Type:Office
    Property size:
    42,731 SF
    Lot size:
    1.20 Acres
    Price / SF:
    $219/SF
    Added:
    Jun 3, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 4 at 7:03 am

    Property Features for 135 S Mountain Way Dr

    General Information

    Standard status
    Active
    Size
    42,731 SF
    Lot size
    1.20 Acres
    Property subtype
    Office

    Building Details

    Year Built
    1978

    We can help!

    Listing Contact
    Bryce Blanchard
    Bryce Blanchard

    Listing agent Bryce Blanchard License #UT 5487558-SA00

    Listing office Newmark Mountain West

    Listing date Jun 3, 2026

    Source Crexi

    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 Newmark Mountain West

    HighLights

    • Fully renovated office building built in 1978 with 42,731 SF of modern office space
    • Renovated in 2021 with programmable digital signage
    • Fitness amenities include a basketball court, locker rooms, and a steam room
    • On 1.20 acres plus an additional 0.60‑acre parking lot
    • Includes 123 parking stalls for tenant and visitor use

    Overview

    This fully renovated office building at 135 S Mountain Way Dr was built in 1978 and underwent a complete renovation in 2021. The property totals 42,731 square feet on 1.20 acres, with an additional 0.60-acre parking lot. Improvements include modern office space along with fitness amenities such as a basketball court, locker rooms, and a steam room. For building presentation and operations, it also features programmable digital signage.

    The site includes 123 parking stalls to support employee and visitor access. The property is described as having excellent freeway visibility, which can be advantageous for businesses seeking clear presence from passing traffic.

    Designed for owner-occupiers or investors, this property is positioned as a high-quality turnkey office facility. The combination of recently renovated office space, on-site amenities, and ample parking may appeal to tenants looking for a move-in ready environment, or to buyers seeking an operationally complete office asset.

    Local Financial Insights For Office B

    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 $1.03M $24.00
    − Vacancy −$225.6k −$5.28
    EGI $799.9k $18.72
    − OpEx −$200.0k −$4.68
    NOI $599.9k $14.04
    42,731 SF · lease $24.00/SF/yr · vacancy 22.00% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $8.57M
    $7.50M – $10.00M (±1% cap)
    NOI $599,943 @ 7.0% cap · market cap 6.38%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $11.78M
    $10.31M – $13.74M (±1% cap)
    NOI $824,537 @ 7.0% cap · market cap 8.77%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Adminify (Bike/Boat/Book/etc) Store Rise Fencing General Contractor ERC Pros Tax Preparation Valley Law Accident ... Law Firm Figure Financial Tax Preparation

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Orem
    County
    Utah
    State
    Utah
    Longitude
    -111.72648
    Latitude
    40.2946542

    Nearby Similar for Sale

    • $1,860,000
      6,000 SF

      Orem Commercial Opportunity For Sale

      6,000 SF standalone building in high-traffic Orem location.
      340 E 1200 S, Orem, UT 84058
      View Details
    • $644,900
      2,548 SF

      Orem Duplex Near Universities

      Well-maintained Orem duplex with strong rental history near universities.
      1925 S 520 E, Orem, UT 84058
      View Details
    • $915,000
      3,492 SF

      Orem Fourplex Near UVU

      Well-maintained fourplex with upgrade potential near UVU and Provo Airport.
      1068 S ELLEN Cir, Orem, UT 84058
      View Details
    • $885,000
      3,348 SF

      Orem Multifamily on Corner Lot

      Multifamily property in prime Orem location with updated units.
      225 W 1030 N, Orem, UT 84058
      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
    • $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
    • $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
    • $570,000

      Orem Medical Office Space

      Prime medical office space near two hospitals in Orem.
      421 N OREM Blvd, 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
    • $2,937,600
      4,400 SF

      Orem Office Space Available

      Office space with private offices, conference room, and breakroom.
      248 W Center St, Orem, UT
      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?
    Office building - Turnkey, fully renovated office building with modern amenities and extensive on-site parking for tenant or investor use.
    Where is this office building located?
    The property is located at 135 S Mountain Way Dr Orem, UT.
    What is the asking price?
    The asking price for this property is $9,400,000.
    What are key features of this property?
    This property features: Fully renovated office building built in 1978 with 42,731 SF of modern office space; Renovated in 2021 with programmable digital signage; Fitness amenities include a basketball court, locker rooms, and a steam room
    (801) 578-5534 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Bryce Blanchard
    Bryce Blanchard
    Real Estate License ID: UT 5487558-SA00
    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

    Thank You for Inquiry
    135 S Mountain Way Dr, Orem, UT 84058
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!