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    2801 Thanksgiving Way Lehi, UT 84043

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    For Lease
    Contact for pricing

    Premium Lehi Office Space Available

    Lot size:
    150,000 SF

    Property Features for 2801 Thanksgiving Way

    General Information

    Property type
    Office properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    150,000 SF
    Class
    A
    Total Rate
    387500

    Building Details

    Year Built
    2016
    Buildings
    1
    Stories
    2

    Spaces For Lease

    at 2801 Thanksgiving Way, Lehi, UT 84043 Contact us
    Unit Suite 200

    $31 /Mo

    Size
    11,245 SF
    Contact us
    Unit Suite 120

    $31 /Mo

    Size
    4,365 SF
    Contact us

    We can help!

    Listing Contact
    John Petersen
    John Petersen

    Listing Agency: Colliers | Utah County Listing Agent: John Petersen

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

    Learn more

    Property Insight Report

    Overview

    Thanksgiving Station 4, a Class A office building in Lehi, Utah's "Heart of Silicon Slopes," offers exceptional executive office space. This single, two-story building, constructed in 2016, boasts 150,000 square feet of total space, with 15,610 square feet currently vacant. Multiple tenancy options are available, ranging from a minimum of 4,365 contiguous square feet to a maximum of 11,245 contiguous square feet. The building features three elevators for convenient access to all floors. Ample parking is provided, with a ratio of 4.5 spaces per 1,000 square feet. Situated on a 7.5-acre lot, this property benefits from a highly desirable Commercial zoning designation within Utah County. The building's address is 2801 N Thanksgiving Wy, Lehi, UT 84043. Its prime location in the thriving Lehi submarket offers unparalleled access to the region's vibrant tech industry and a wealth of amenities. This is an exceptional opportunity to secure high-quality office space in one of Utah's fastest-growing areas. The building consists of only two suites, providing a sense of exclusivity and community.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Sorenson Capital Financial Advisor Sell Structured Settlement ... Financial Advisor Cadence Homes Construction Company eLuma Training Center Rovin Capital Financial Advisor

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Lehi
    County
    Utah
    State
    Utah
    Longitude
    -111.883359
    Latitude
    40.422342

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    FAQs

    What type of property is this?
    Office property - Premium Lehi Office Space Available
    Where is this office property located?
    The property is located at 2801 Thanksgiving 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: Class A office building in Lehi, Utah's Silicon Slopes, totaling 150,000 square feet.; 15,610 square feet of vacant space available, with suites ranging from 4,365 to 11,245 contiguous square feet.; Features include floor-to-ceiling glass, an exceptional employee break area, and an on-site gym with lockers and bike storage.
    (801) 666-4250 Call to check price and availability
    Request Owner's contact information
    2801 Thanksgiving Way Lehi, UT 84043
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    Lehi, UT 84043
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    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
    2801 Thanksgiving Way Lehi, UT 84043
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing John Petersen
    John Petersen
    Real Estate License ID: 5504512-AB00
    (801) 666-4250 (801) 610-1300
    Learn more
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