Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1441 Innovation Way Lehi, UT 84043

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Class A Office Suites, Utah's Silicon Slopes

    Lot size:
    13,092 SF

    Property Features for 1441 Innovation Way

    General Information

    Property type
    Office properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    13,092 SF
    Class
    A
    Total Rate
    34366.5

    Spaces For Lease

    at 1441 Innovation Way, Lehi, UT 84043 Contact us
    Unit Suite 175

    $31 /Mo

    Size
    7,546 SF
    Contact us

    We can help!

    Listing Contact
    Brandon Fugal
    Brandon Fugal

    Listing Agency: Colliers | Salt Lake City Millrock Listing Agent: Brandon Fugal

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Innovation Pointe III, located at 1441 W Innovation Way, Lehi, UT 84043, offers 13,092 square feet of premium Class A executive office space in Utah County. Currently, the entire building is vacant and available for lease. This presents a unique opportunity to occupy a modern, highly desirable space within a thriving business community. The building allows for flexible configurations, with a minimum divisible space of 5,546 square feet and a maximum contiguous space of 7,546 square feet. The property boasts floor-to-ceiling windows offering stunning views, reflecting the innovative and productive environment of Utah's Silicon Slopes. Tenants benefit from on-site structured parking, adding convenience and security. The building is part of a larger four-building complex totaling 600,000 square feet, creating a collaborative atmosphere ideal for growing companies. This exceptional location provides easy access to major transportation routes and amenities, making it an attractive option for businesses seeking a dynamic and inspiring workspace. The property's modern design and prime location make it an excellent choice for companies looking to establish or expand their presence in the heart of Utah's technology hub. This is a rare opportunity to secure a significant amount of Class A office space in a highly sought-after location.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Building Supply

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lehi
    County
    Utah
    State
    Utah
    Longitude
    -111.8720952
    Latitude
    40.4301132

    Nearby Similar for Lease

    • Contact for pricing
      6,098 SF

      Lehi Commercial Space Available

      Industrial/Retail space for lease in Lehi, Utah.
      64 N 400 W, Lehi, UT 84043
      View Details
    • $1,400,000
      28,314 SF

      Lehi Commercial Property For Rent

      Commercial property in Lehi, suitable for office or hospitality.
      59 N 500 W, Lehi, UT 84043
      View Details
    • $950,000
      9,148 SF

      Retail Space with Drive-Thru Access

      High-visibility Lehi retail space with drive-thru, suitable for various uses.
      198 E State St, Lehi, UT 84043
      View Details
    • New
      Contact for pricing

      Spaces Triumph Boulevard

      Workspaces, services and support to help you grow your business in Spaces Triumph Boulevard
      3300 Triumph Blvd, Lehi, UT 84043
      View Details
    • Sponsored
      New
      Contact for pricing

      Traverse Ridge

      Discover many ways to work your way in Traverse Ridge
      3450 Triumph Blvd, Lehi, UT 84043
      View Details
    • $31 SF/Yr
      17,550 SF

      Lehi Office Space For Rent

      Office space for rent in a rapidly growing Utah community.
      3450 Triumph Blvd, Lehi, UT 84043
      View Details
    • Contact for pricing
      25,371 SF

      Retail Space in Growing Lehi

      Commercial space available in Lehi, ideal for grocers/restaurants.
      2777 Sandalwood Dr, Lehi, UT 84043
      View Details
    • $22 SF/Yr
      4,249 SF

      Lehi Office Space For Lease

      Office space near FrontRunner station and I-15 in Lehi.
      2975 Executive Pkwy, Lehi, UT 84043
      View Details
    • $33 SF/Yr
      29,219 SF

      Lehi Office Space Available

      Office space with amenities in Lehi, Utah for lease.
      1633 W Innovation Way, Lehi, UT
      View Details
    • Contact for pricing
      2,111 SF

      Retail Spaces Available for Lease

      Retail spaces available for lease in a rapidly growing area.
      3320 N Digital Dr, Lehi, UT 84043
      View Details
    • $24 SF/Yr
      4,628 SF

      Lehi Office Space For Rent

      Office space available in Lehi with mountain views.
      3125 West Executive Pkwy, Lehi, UT 84043
      View Details

    FAQs

    What type of property is this?
    Office property - Class A Office Suites, Utah's Silicon Slopes
    Where is this office property located?
    The property is located at 1441 Innovation Way Lehi, UT.
    What is the lease rate?
    The lease rate is $31 SF/Yr.
    What are key features of this property?
    This property features: Turnkey furnished option available.; Available for occupancy November 1, 2024.;
    (801) 947-8300 Call to check price and availability
    Request Owner's contact information
    1441 Innovation Way Lehi, UT 84043
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1441 Innovation Way
    Lehi, UT 84043
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1441 Innovation Way Lehi, UT 84043
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Brandon Fugal
    Brandon Fugal
    Real Estate License ID: 5477023-SA00
    (801) 947-8300 (801) 947-8328
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!