Two-Building Office
1481 S State St Orem, UT 84097
1481 S State St, Orem, UT, 84097
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For Sale
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Two office buildings on a 1.23-acre parcel with 62 parking spaces and frontage on State Street.
Property Size15,797 SF
Lot Size1.23 Acres
Price / SF$217.13
Days on Market112
Property Features for 1481 S State St
General Information
- Standard status
- Active
- Size
- 15,797 SF
- Lot size
- 1.23 Acres
- Property subtype
- OFFICE
Listing agency
Summit Commercial Advisors
(801) 376-5282
Listed by
Bill Street
(801) 376-5282
Source
Moodyscre
Added: Apr 1 Updated: Jul 20 at 4:40PM Checked: Jul 20 at 4:40PM
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 Summit Commercial Advisors
Investment Insights
Based on property information with market context.
Two office buildings are included in the sale on a single 1.23-acre parcel. The property is currently vacant, and the site provides 62 parking spaces. Both buildings offer frontage and signage possibilities on State Street in Orem.
The property is zoned C-2, described as Orem’s broadest commercial zone. The sale also includes an existing billboard lease with Reagan Signs and a telecommunications lease with Fibernet.
An average daily traffic count of 49,000 cars daily is reported for State Street in Orem, supporting visibility for the office buildings and associated signage.
The property is zoned C-2, described as Orem’s broadest commercial zone. The sale also includes an existing billboard lease with Reagan Signs and a telecommunications lease with Fibernet.
An average daily traffic count of 49,000 cars daily is reported for State Street in Orem, supporting visibility for the office buildings and associated signage.
Key Highlights
- Two office buildings on a single 1.23‑acre parcel with 62 parking spaces
- Frontage on State Street in Orem with signage possibilities
- Zoned C‑2, Orem’s broadest commercial zone
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 | $379.1k | $24.00 |
| − Vacancy | −$83.4k | −$5.28 |
| EGI | $295.7k | $18.72 |
| − OpEx | −$73.9k | −$4.68 |
| NOI | $221.8k | $14.04 |
15,797 SF · lease $24.00/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.17M
$2.77M – $3.70M
NOI $221,790 @ 7.0% cap · market cap 6.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.35M
$3.81M – $5.08M
NOI $304,819 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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Loan Service
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FAQs
What type of property is this?
Office building - Two office buildings on a 1.23-acre parcel with 62 parking spaces and frontage on State Street.
Where is this office building located?
The property is located at 1481 S State St Orem, UT.
What is the asking price?
The asking price for this property is $3,430,000.
What are key features of this property?
This property features: Two office buildings on a single 1.23‑acre parcel with 62 parking spaces; Frontage on State Street in Orem with signage possibilities; Zoned C‑2, Orem’s broadest commercial zone
