Flex Building with Fenced
For Sale
$1,500,000
1355 W 465 S, Orem, UT 84058
M2-zoned property combines office, general-use space, loading access, and basement storage or manufacturing capacity.
Property Size6,290 SF
Lot Size0.44 Acres
Price / SF$238.47
Days on Market62
Property Features for 1355 W 465 S
General Information
Standard status
Active
Size
6,290 SF
Lot size
0.44 Acres
Property subtype
Industrial
Zoning
M2
Warehouse & Industrial
Office Build-Out
1,350 SF
Power
200 amps
Three-Phase Power
No
Additional Details
Fenced Yard
Yes
Amenities
breakroom
laundry
Building Details
Building Size
6,290 SF
Year Built
1979
Buildings
1
Stories
1
Listing Agency:
Lift Realty
Listed By:
Spencer Clawson · License #6608967-PB00
(801) 636-8426
Source:
Liftrealty
Added: Jul 17
Changed: Sep 15
Last Checked: Sep 15 at 7:37AM
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 Lift Realty
Investment Insights
Based on property information with market context.
This 6,290-square-foot flex building on .44 acres includes 4,000 square feet on the main floor and 2,290 square feet in the basement. The current configuration features 1,350 square feet of newer office space with a lobby, three private offices, and a conference room, along with two bathrooms, laundry, and a breakroom. The remaining main-floor area is improved general-use space with 12'x8' and 6'x8' garage doors opening to a large loading dock. Secure safe doors provide basement access, with a third safe door dividing the basement in half. The basement is suited for storage or manufacturing use.
The property is zoned M2, allowing commercial, industrial, and retail uses. It includes a secure, private fenced yard and parking. Power service is single-phase, 200 AMP, with three-phase capability ready. The roof was replaced in 2021, and all three HVAC systems are newer, installed in 2020, 2021, and 2024.
The property is zoned M2, allowing commercial, industrial, and retail uses. It includes a secure, private fenced yard and parking. Power service is single-phase, 200 AMP, with three-phase capability ready. The roof was replaced in 2021, and all three HVAC systems are newer, installed in 2020, 2021, and 2024.
Key Highlights
- 6,290‑square‑foot building on .44 acres with parking and a secure, private fenced yard
- 4,000‑square‑foot main floor and 2,290‑square‑foot basement
- 1,350 square feet of office space with lobby, three private offices, and conference room
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
$88,312
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
5.89%
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%
$1,766,240
$1.8M
Cap Rate 7%
$1,261,600
$1.3M
Cap Rate 9%
$981,244
$981.2K
Market Conditions
NOI Build-Up for 6,290 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
$151.0K $24.00/SF
− Vacancy
−$33.2K −$5.28/SF
EGI
$117.7K $18.72/SF
− OpEx
−$29.4K −$4.68/SF
NOI
$88.3K $14.04/SF
Area
Utah County, UT
Vacancy
22.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,766,240
Cap Rate 7%
$1,261,600
Cap Rate 9%
$981,244
Alternative Uses
Best Use
Office B
$1.26M
$1.10M – $1.47M
NOI $88,312 @ 7.0% cap · market cap 5.89%
Second Best
Warehouse
$868.9K
$760.3K – $1.01M
NOI $60,822 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$1.73M
$1.52M – $2.02M
NOI $121,372 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
624
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 84058, UT
33,734
Population
11,749
Households
2.9
Avg Household Size
26
Median Age
41%
College-Educated
93%
High-School Grad
8.0 sq mi
ZIP Area
4,217
Density / Sq Mi
$71,474
Median Household Income
$27,325
Median Earnings
$1,395
Median Rent
$441,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Flex space - M2-zoned property combines office, general-use space, loading access, and basement storage or manufacturing capacity.
Where is this flex space located?
The property is located at 1355 W 465 S Orem, UT.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 6,290‑square‑foot building on .44 acres with parking and a secure, private fenced yard; 4,000‑square‑foot main floor and 2,290‑square‑foot basement; 1,350 square feet of office space with lobby, three private offices, and conference room
