Freestanding Restaurant
For Sale
$1,775,000
340 E 1200 S, Orem, UT 84058
Commercial Sale, Orem, UT
Property Size6,124 SF
Lot Size0.31 Acres
Price / SF$289.84
Days on Market95
Property Features for 340 E 1200 S
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
Commercial
Zoning description
C2
Rooms
Basement
Window features
Blinds
Interior features
Floor Drains, Basement, Kitchen, Restroom: Public
Exterior features
Out Buildings
Accessibility
Accessible Approach with Ramp
Subdivision
CARILLON SQUARE
Standard status
Active
APN
19-015-0044
Lot size
0.31 Acres
Taxes and HOA fees
Tax Annual Amount
5800
Utilities
Heating system
Natural Gas
Cooling system
Central Air
Building Details
Year built
1970
Flooring type
Tile
Roof type
Wood
Listing Agency:
Century 21 Everest · Century 21 Real Estate
(801) 449-3000
Listed By:
Tim Long
(435) 705-1279
Added: May 19
Changed: Aug 20
Last Checked: Aug 21 at 1:06PM
MLS# 2159132
Copyright © 2026 UtahRealEstate.com. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This freestanding restaurant property contains 6,124 SF across approximately 3,000 SF on the main level and 3,000 SF below grade. The layout includes a kitchen, public restroom, basement area, floor drains, tile flooring, central air, natural gas heating, and an accessible ramp approach. The building was rebuilt, upgraded, and improved in 2006, with a wood roof and an additional outbuilding.
Located at 340 E 1200 S in Orem, the property occupies 0.31 acres and includes designated parking and prominent marquee signage. Commercial zoning supports its current restaurant classification. City approval and plans have been obtained for a vertical addition above the existing structure, offering a defined path for potential expansion.
Located at 340 E 1200 S in Orem, the property occupies 0.31 acres and includes designated parking and prominent marquee signage. Commercial zoning supports its current restaurant classification. City approval and plans have been obtained for a vertical addition above the existing structure, offering a defined path for potential expansion.
Key Highlights
- 6,124 SF freestanding restaurant building on a 0.31‑acre parcel
- Approximately 3,000 SF main level plus 3,000 SF lower level
- Rebuilt, upgraded, and improved in 2006
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
$109,826
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
6.19%
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%
$2,196,520
$2.2M
Cap Rate 7%
$1,568,943
$1.6M
Cap Rate 9%
$1,220,289
$1.2M
Market Conditions
NOI Build-Up for 6,124 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
$152.9K $24.96/SF
− Vacancy
−$6.4K −$1.05/SF
EGI
$146.4K $23.91/SF
− OpEx
−$36.6K −$5.98/SF
NOI
$109.8K $17.93/SF
Area
Utah County, UT
Vacancy
4.20%
Lease Rate
$24.96 /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%
$2,196,520
Cap Rate 7%
$1,568,943
Cap Rate 9%
$1,220,289
Alternative Uses
Best Use
Specialty Retail
$1.57M
$1.37M – $1.83M
NOI $109,826 @ 7.0% cap · market cap 6.19%
Second Best
Retail
$1.46M
$1.28M – $1.71M
NOI $102,505 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,169 @ 7.0% cap · market cap 6.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,161
Businesses Nearby
549k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 32%
Superstores 27%
Dining 27%
Electronics 5%
Costco Wholesale
Superstores
149,177 visits/mo
0.4 miles
Texas Roadhouse
Dining
32,813 visits/mo
0.2 miles
Best Buy
Electronics
27,616 visits/mo
0.1 miles
Michaels
Shops & Services
25,306 visits/mo
0.4 miles
Jo-Ann Fabric and Craft
Shops & Services
24,203 visits/mo
0.4 miles
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
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Two-level commercial building with kitchen facilities, designated parking, marquee signage, and Commercial zoning.
Where is this conventional restaurant located?
The property is located at 340 E 1200 S Orem, UT.
What is the asking price?
The asking price for this property is $1,775,000.
What are key features of this property?
This property features: 6,124 SF freestanding restaurant building on a 0.31‑acre parcel; Approximately 3,000 SF main level plus 3,000 SF lower level; Rebuilt, upgraded, and improved in 2006
