Stonehenge Office
For Sale
Contact for pricing
36 South 400 West, Orem, UT 84058
Modern professional offices offer private rooms, collaborative workspace, and a move-in-ready suite configuration.
Property Size13,000 SF
Price / SF$250
Days on Market193
Property Features for 36 South 400 West
General Information
Standard status
Active
Size
13,000 SF
Class
A
Property subtype
Office
Investment Type
Owner/User
Listing Agency:
Legend Commercial
Listed By:
Artie Lucero · License #UT 8017726-SA00
Source:
Crexi
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 1:10PM
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 Legend Commercial
Investment Insights
Based on property information with market context.
Stonehenge Office is a 13,000-square-foot professional office building with a stone-and-glass exterior and updated, well-maintained interiors. The layout combines private offices, conference rooms, reception areas, breakroom space, restrooms, and open work areas. A currently available suite of approximately 6,500 square feet includes nine private offices, a large conference room, reception, breakroom, in-suite restrooms, and direct elevator access. Furniture may also be available for a streamlined occupancy setup.
The property is located at 36 South 400 West in Orem, just off Center Street and near immediate access to I-15. The surrounding business corridor includes retail, dining, and everyday services, supporting convenient access for employees and visitors. The building’s configuration provides a professional setting for an owner-user or tenant seeking a defined office environment rather than a large campus.
The property is located at 36 South 400 West in Orem, just off Center Street and near immediate access to I-15. The surrounding business corridor includes retail, dining, and everyday services, supporting convenient access for employees and visitors. The building’s configuration provides a professional setting for an owner-user or tenant seeking a defined office environment rather than a large campus.
Key Highlights
- 13,000‑square‑foot professional office building
- Approximately 6,500 SF suite available
- Suite includes nine private offices and a large 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
$182,520
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
5.62%
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%
$3,650,400
$3.7M
Cap Rate 7%
$2,607,429
$2.6M
Cap Rate 9%
$2,028,000
$2.0M
Market Conditions
NOI Build-Up for 13,000 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
$312.0K $24.00/SF
− Vacancy
−$68.6K −$5.28/SF
EGI
$243.4K $18.72/SF
− OpEx
−$60.8K −$4.68/SF
NOI
$182.5K $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%
$3,650,400
Cap Rate 7%
$2,607,429
Cap Rate 9%
$2,028,000
Alternative Uses
Best Use
Office B
$2.61M
$2.28M – $3.04M
NOI $182,520 @ 7.0% cap · market cap 5.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.58M
$3.14M – $4.18M
NOI $250,848 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,336
Businesses Nearby
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Modern professional offices offer private rooms, collaborative workspace, and a move-in-ready suite configuration.
Where is this office building located?
The property is located at 36 South 400 West Orem, UT.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: 13,000‑square‑foot professional office building; Approximately 6,500 SF suite available; Suite includes nine private offices and a large conference room
