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    340 University Pkwy Orem, UT 84058

    For Lease
    $26 SF/Yr

    Prime Orem retail space, 3,510 sq ft, high traffic.

    Lot size:
    3,510 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    361
    This exceptional 3,510 square foot single-tenant retail space is ideally situated at 340 E University Pkwy in Orem, Utah, 84058. Boasting a highly visible location directly off University Parkway, this property benefits from exceptional traffic counts exceeding 100,000 vehicles daily at the nearby intersection of University Parkway and State Street. The space is perfect for a variety of retail uses and offers a compelling opportunity for businesses seeking high visibility and accessibility. The property is a single-story building without elevators. The lease rate is a net-net-net (NNN) structure, ranging from $26 to $35 per square foot. This prime location offers excellent co-tenancy with established and popular businesses including In-N-Out Burger, Outback Steakhouse, Nordstrom Rack, Burlington, and Barnes & Noble, ensuring a strong customer base and synergistic environment. The property is located in Utah County and offers easy access to major transportation routes. This is a rare opportunity to secure a prominent retail space in a thriving Orem commercial corridor.

    Property Features for 340 University Pkwy

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    3,510 SF

    Building Details

    Stories
    1

    Unit(s) available at that property

    Space
    Size
    3,510 SF
    Rate per SF
    $35

    HighLights

    • 3,510 SF single‑tenant retail space at 340 E University Pkwy, Orem, UT 84058.
    • High‑visibility location on University Parkway, with over 100,000 vehicles daily at the nearby intersection of University Parkway and State Street.
    • NNN lease rate: $26-$35/SF.
    • Strong co‑tenancy with In‑N‑Out Burger, Outback Steakhouse, Nordstrom Rack, Burlington, and Barnes & Noble.
    • Single‑story building; easy access to major transportation routes.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Burlington Clothing Store

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Orem
    County
    Utah
    State
    Utah
    Longitude
    -111.6870331
    Latitude
    40.2720314

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    FAQs

    What type of property is this?
    Retail property - Prime Orem retail space, 3,510 sq ft, high traffic.
    Where is this retail property located?
    The property is located at 340 University Pkwy Orem, UT.
    What is the lease rate?
    The lease rate is $35 SF/Yr.
    What are key features of this property?
    This property features: 3,510 SF single-tenant retail space at 340 E University Pkwy, Orem, UT 84058.; High-visibility location on University Parkway, with over 100,000 vehicles daily at the nearby intersection of University Parkway and State Street.; NNN lease rate: $26-$35/SF.
    Request Owner's contact information
    340 University Pkwy Orem, UT 84058
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    Orem, UT 84058
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    Realmo Value Estimation

    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.

    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.

    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
    340 University Pkwy Orem, UT 84058
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