Orem Office Space For
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568 W 800 N, Orem, UT 84057
Own office space in Pinehurst Office Park near Timpanogos Hospital.
Property Size6,867 SF
Price / SF$224.99
Days on Market828
Property Features for 568 W 800 N
General Information
Standard status
Active
Size
6,867 SF
Class
B
Property subtype
Office
Building Details
Year Built
2006
Listing Agency:
Core Utah Real Estate
Listed By:
Aaron Cook · License #Utah
(801) 222-9696
Source:
Crexi
Added: Jun 3, 2024
Changed: Sep 7
Last Checked: Sep 7 at 8:20AM
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 Core Utah Real Estate
Investment Insights
Based on property information with market context.
This property offers an opportunity to own office space in Pinehurst Office Park. The space features building signage visible on 800 North. Its location adjacent to Timpanogos Hospital presents a potential opportunity for a medical user. The suite includes multiple offices, conference rooms, and open work space. The property contains 6,867 square feet.
Key Highlights
- Prime location adjacent to Timpanogos Hospital, ideal for medical professionals.
- Building signage visible on 800 North.
- Full ownership of the suite, unlike equity ownership models.
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
$96,413
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
6.24%
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%
$1,928,260
$1.9M
Cap Rate 7%
$1,377,329
$1.4M
Cap Rate 9%
$1,071,256
$1.1M
Market Conditions
NOI Build-Up for 6,867 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
$164.8K $24.00/SF
− Vacancy
−$36.3K −$5.28/SF
EGI
$128.6K $18.72/SF
− OpEx
−$32.1K −$4.68/SF
NOI
$96.4K $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%
$1,928,260
Cap Rate 7%
$1,377,329
Cap Rate 9%
$1,071,256
Alternative Uses
Best Use
Office B
$1.38M
$1.21M – $1.61M
NOI $96,413 @ 7.0% cap · market cap 6.24%
Second Best
Healthcare Medical
$1.18M
$1.03M – $1.38M
NOI $82,771 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$1.89M
$1.66M – $2.21M
NOI $132,506 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
469
Businesses Nearby
Explore this area
Business Placement
Demographics for 84057, UT
38,401
Population
12,246
Households
3.1
Avg Household Size
29
Median Age
39%
College-Educated
93%
High-School Grad
6.2 sq mi
ZIP Area
6,194
Density / Sq Mi
$80,184
Median Household Income
$36,429
Median Earnings
$1,408
Median Rent
$398,400
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 units - Own office space in Pinehurst Office Park near Timpanogos Hospital.
Where is this office units located?
The property is located at 568 W 800 N Orem, UT.
What is the asking price?
The asking price for this property is $1,545,000.
What are key features of this property?
This property features: Prime location adjacent to Timpanogos Hospital, ideal for medical professionals.; Building signage visible on 800 North.; Full ownership of the suite, unlike equity ownership models.
