Remodeled Retail Space with Pole
For Sale
Contact for pricing
1632-1658 S State St, Orem, UT 84097
Available retail space in a largely remodeled building, with a state street pole sign available and NNN lease structure.
Property Size37,912 SF
Price / SF$215
Days on Market1298
Property Features for 1632-1658 S State St
General Information
Standard status
Active
Size
37,912 SF
Property subtype
RETAIL
Additional Details
Asking Price
$8,151,080
Pylon Signage
Yes
Amenities
state street pole sign
Building Details
Building Size
37,912 SF
Listing Agency:
Mountain West - Corporate
(801) 456-8800
Listed By:
Shad Webb
(385) 233-9142
Source:
Moodyscre
Added: Feb 24, 2023
Changed: Sep 8
Last Checked: Sep 14 at 11:52AM
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 Mountain West - Corporate
Investment Insights
Based on property information with market context.
Available retail space is offered within a building that has undergone remodeling across the majority of the space. The offering is described as being well-suited for uses such as summer sales, a gym, or professional office use, with an NNN lease structure noted for the available tenancy.
The building contains 37,912 SF total, with 3,800 SF available. A state street pole sign is available, providing an additional form of visibility. The property is located about 4 minutes from Utah Valley Hospital and is minutes from both BYU and UVU, with many nearby amenities and services.
With most of the building remodeled and an available pole sign, the space is positioned for tenants seeking a refreshed interior and prominent roadside advertising support.
The building contains 37,912 SF total, with 3,800 SF available. A state street pole sign is available, providing an additional form of visibility. The property is located about 4 minutes from Utah Valley Hospital and is minutes from both BYU and UVU, with many nearby amenities and services.
With most of the building remodeled and an available pole sign, the space is positioned for tenants seeking a refreshed interior and prominent roadside advertising support.
Key Highlights
- 3,800 SF available retail space within 37,912 SF building
- Majority of the building has been remodeled
- State street pole sign available
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
$634,578
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
7.79%
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%
$12,691,560
$12.7M
Cap Rate 7%
$9,065,400
$9.1M
Cap Rate 9%
$7,050,867
$7.1M
Market Conditions
NOI Build-Up for 37,912 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
$946.3K $24.96/SF
− Vacancy
−$39.7K −$1.05/SF
EGI
$906.5K $23.91/SF
− OpEx
−$272.0K −$7.17/SF
NOI
$634.6K $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%
$12,691,560
Cap Rate 7%
$9,065,400
Cap Rate 9%
$7,050,867
Alternative Uses
Best Use
Retail
$9.07M
$7.93M – $10.58M
NOI $634,578 @ 7.0% cap · market cap 7.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.45M
$9.14M – $12.19M
NOI $731,550 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,157
Businesses Nearby
76k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 36%
Shops & Services 31%
Groceries 19%
Apparel 13%
Sprouts Farmers Market
Groceries
14,817 visits/mo
0.4 miles
Panda Express
Dining
8,819 visits/mo
0.5 miles
Shell
Shops & Services
6,899 visits/mo
0.2 miles
Yogurtland
Dining
6,751 visits/mo
0.5 miles
Discount Tire Store
Shops & Services
5,843 visits/mo
0.4 miles
Demographics for 84097, UT
23,038
Population
7,237
Households
3.2
Avg Household Size
30
Median Age
50%
College-Educated
98%
High-School Grad
6.0 sq mi
ZIP Area
3,840
Density / Sq Mi
$97,034
Median Household Income
$34,536
Median Earnings
$1,414
Median Rent
$506,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Available retail space in a largely remodeled building, with a state street pole sign available and NNN lease structure.
Where is this retail space located?
The property is located at 1632-1658 S State St Orem, UT.
What is the asking price?
The asking price for this property is $8,151,080.
What are key features of this property?
This property features: 3,800 SF available retail space within 37,912 SF building; Majority of the building has been remodeled; State street pole sign available
