Add Listing
    For Sale
    • 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

    1778 State St Orem, UT 84057

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    14,434 SF Office, $2.65M

    Property size:
    14,434 SF

    Property Features for 1778 State St

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    14,434 SF
    Class
    B
    Lot Size
    50,007 SF

    Building Details

    Year Built
    1992
    Buildings
    1
    Stories
    2

    We can help!

    Listing Contact
    Spencer Croshaw
    Spencer Croshaw

    Listing Agency: Colliers | Utah County Listing Agent: Spencer Croshaw

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

    Learn more

    Property Insight Report

    Overview

    This exceptional two-story, Class B office building presents a compelling investment opportunity in Orem, Utah. Boasting 14,434 square feet of space, this multi-tenant property sits on a sizable 1.148-acre lot with convenient State Street frontage and access. Built in 1992, the building offers ample parking with a generous 3.69 spaces per 1,000 square feet (44 stalls total). The asking price is $2,650,000, translating to $183.59 per square foot. Its strategic location provides easy access to Interstate 15, just four minutes away, ensuring excellent visibility and convenient commuting for employees and clients. The property's size and location make it ideal for owner-occupiers seeking a substantial presence in a thriving Utah County market. The APN is 41:517:0001. This is a rare opportunity to acquire a well-maintained, established office building in a high-demand area. The property's features and location combine to offer a strong return on investment. Don't miss this chance to secure a valuable asset in a rapidly growing market.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Orem
    County
    Utah
    State
    Utah
    Longitude
    -111.7092849
    Latitude
    40.3297401

    Nearby Similar for Sale

    • $570,000
      0.98 Acres

      Orem Medical Office Space

      Prime medical office space near two hospitals in Orem.
      421 N Orem Blvd, Orem, UT 84057
      View Details
    • $749,900
      0.19 Acres

      Remodeled Commercial Building in Orem

      Remodeled commercial building with high visibility and freeway access.
      835 W 400 N, Orem, UT 84057
      View Details
    • $949,000
      3,492 SF

      Orem Fourplex Investment Opportunity

      Well-maintained Orem fourplex near UVU and BYU with upside potential.
      1068 S Ellen Cir, Orem, UT 84058
      View Details
    • New
      $1,250,800
      7,062 SF

      Orem Fourplex Investment Opportunity

      Cash-flowing Orem fourplex with strong rental potential.
      114 W 300 S, Orem, UT 84058
      View Details
    • $1,399,999
      4,152 SF

      Remodeled Orem 4-Plex Investment

      Remodeled 4-plex near University Place, BYU, and UVU.
      1531 S 450 E, Orem, UT 84058
      View Details
    • $1,149,998
      4,158 SF

      Orem Fourplex with Recent Renovations

      Well-maintained Orem fourplex with significant recent capital improvements.
      232 N 250 E, Orem, UT 84057
      View Details
    • $2,700,000
      14,435 SF

      Orem Office Building For Sale

      14,435 SF office building on 1.148 acres in Orem.
      1778 N State St, Orem, UT 84097
      View Details
    • $2,895,620
      16,510 SF

      Orem Office Space For Sale

      16,510 SF office space available in Orem, Utah.
      1095 S 800 E, Orem, UT 84057
      View Details
    • $2,400,000
      8,469 SF

      Orem Industrial Building For Sale

      8,469 SF industrial building with flexible leasing options.
      1418 W Center St, Orem, UT 84057
      View Details
    • Contact for pricing
      24,606 SF

      Canyon Park Tech Center Office

      Office space for sale in Canyon Park Tech Center.
      500 Timpanogos Pkwy, Orem, UT 84097
      View Details
    • Contact for pricing

      Salon Investment Opportunity

      Multi-tenant salon co-op on Center Street with strong demographics.
      265 W Center St, Orem, UT 84057
      View Details
    • Contact for pricing

      Orem Office Building with Amenities

      Office building featuring updated common areas and on-site fitness center.
      1815 S State St, Orem, UT 84097
      View Details

    FAQs

    What type of property is this?
    Office Property / Space - 14,434 SF Office, $2.65M
    Where is this office property / space located?
    The property is located at 1778 State St Orem, UT.
    What is the asking price?
    The asking price for this property is $2,650,000.
    What are key features of this property?
    This property features: 14,434 square feet total building area; 1.148-acre lot; Excellent owner-user opportunity
    (801) 702-4689 Call to check price and availability
    Request Owner's contact information
    1778 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.
    1778 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
    1778 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 Spencer Croshaw
    Spencer Croshaw
    Real Estate License ID: 5489240-SA00
    (801) 702-4689 (801) 830-7690 (801) 610-1300
    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!