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

    205 State St Orem, UT 84057

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

    Prime State Street location, 1,267 sq ft.

    Lot size:
    1,267 SF

    Property Features for 205 State St

    General Information

    Property type
    Medical Office Space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    1,267 SF
    Class
    B

    Building Details

    Year Built
    1988

    Spaces For Lease

    at 205 State St, Orem, UT 84057 Contact us
    Unit

    $19 /Mo

    Size
    1,267 SF
    Contact us

    We can help!

    Listing Contact
    Matthew Flinders
    Matthew Flinders

    Listing Agency: UtahRealEstate.Net Listing Agent: Matthew Flinders

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

    Learn more

    Overview

    This exceptional 1,267-square-foot office space is ideally situated at 205 N State Street, Orem, UT 84057, on the corner of 200 North. The property, classified as a Class B building constructed in 1988, offers a single-tenant occupancy in a highly visible location. Previously used as an optometrist's office, this space is well-suited for medical or traditional office uses. The building sits on a 0.7-acre lot in Utah County's Orem submarket, benefiting from an estimated 46,617 cars passing daily. The property boasts prominent monument signage and ample parking. Recent updates, completed in 2022, include renovations to the lobby and other common areas. The lease terms include a modified gross rent of $2100 per month plus $500 in CAM charges. The property is currently vacant and easily accessible for viewing. This is a fantastic opportunity for a business seeking a high-traffic, well-maintained office space in a thriving Orem location.
    Property Profile Location Intelligence

    Current Use by Public Records

    Hill Family Dental Dental Office Dr. Jerel Hill Dental Office Dr. Jared Hill Dental Office

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Orem
    County
    Utah
    State
    Utah
    Longitude
    -111.69687719743
    Latitude
    40.300758112832

    Nearby Similar for Lease

    • Contact for pricing
      70,132 SF

      Renovated Retail Spaces Available

      Three newly renovated retail spaces available for lease in Orem.
      1160 S State St, Orem, UT 84097
      View Details
    • $25 SF/Yr
      1,742 SF

      Shell Office Space For Rent

      Shell office space available Summer 2025 in high-traffic area.
      1802 N State St, Orem, UT 84097
      View Details
    • $13 SF/Yr
      6,000 SF

      Orem Office/Retail Space Available

      6,000 SF office/retail space for lease in Orem, Utah.
      1170 S State St, Orem, UT 84097
      View Details
    • $16 SF/Yr
      1,200 SF

      Retail/Office Space on State Street

      1,200 SF retail/office space for lease on State Street.
      1591 S State St, Orem, UT 84057
      View Details
    • $4,000 /Mo
      536 SF

      Renovated Office Spaces Available

      Newly renovated office building with spaces available for rent.
      111 N Geneva Rd, Orem, UT 84057
      View Details
    • $13 SF/Yr
      8,250 SF

      Orem Office Space Available

      8,250 SF office space with modern finishes for lease.
      721 N 1500 W, Orem, UT 84057
      View Details
    • $1.36 SF/Yr

      Orem Office Space For Rent

      Office space available on State Street in Orem, Utah.
      560 S State St, Orem, UT 84058
      View Details
    • $28 SF/Yr
      24,493 SF

      Class A Office Space Available

      Class A office space for lease with on-site amenities.
      500 E Park Ave, Orem, UT
      View Details
    • Contact for pricing
      45,233 SF

      Orem Retail Space Available

      45,233 SF retail space in Orem's retail corridor.
      86 E University Pkwy, Orem, UT 84058
      View Details
    • $13 SF/Yr
      960 SF

      Orem Office Space Available

      960 SF office space for rent in Orem.
      1041 S Orem Blvd, Orem, UT 84058
      View Details
    • $14 SF/Yr
      3,460 SF

      Orem Flex Space Available

      3,460 SF flex space with I-15 visibility for lease.
      621 N 1200 W, Orem, UT 84097
      View Details
    • $37 SF/Yr
      7,460 SF

      Retail Space Near UVU Expansion

      Retail space anchored by Larry H. Miller megaplex theater.
      614 N Ml Rd, Orem, UT
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Prime State Street location, 1,267 sq ft.
    Where is this medical office space located?
    The property is located at 205 State St Orem, UT.
    What is the lease rate?
    The lease rate is $19 SF/Yr.
    What are key features of this property?
    This property features: 1,267-square-foot office space at 205 N State Street, Orem, UT.; Class B building (1988 construction) offering single-tenant occupancy.; High-visibility corner location with 46,617 estimated daily car counts.
    (801) 375-1075 Call to check price and availability
    Request Owner's contact information
    205 State St Orem, UT 84057
    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.
    205 State St
    Orem, UT 84057
    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
    205 State St Orem, UT 84057
    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 Matthew Flinders
    Matthew Flinders
    (801) 375-1075 (208) 521-1406
    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!