Commercial Real Estate Market in Orem, UT
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
137 active listings and 1,892 off-market properties in Orem, UT. Commercial property asks $246/SF to buy and $15.04/SF/Yr to lease.
Market Trends
Orem, UT spans 25.6 square miles in Utah County, Utah. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Orem, UT runs 20.8% across the West region in 2025, up from 11% in 2019.
Vacancy Rate % in West region
Retail
Retail vacancy in Orem, UT runs 5.8% across the West region in 2025, down from 7% in 2020.
Vacancy Rate % in West region
Industrial
Industrial vacancy in Orem, UT runs 7.9% across the West region in 2025, up from 3.7% in 2019. Nearly 3.2x the 2022 low of 2.5%.
Vacancy Rate % in West region
Multifamily
Multifamily space in Orem, UT asks $254/SF to buy. Vacancy runs 8.6% across the West region in 2025, up from 7% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in West region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 60.7%
- Industrial 10.9%
- Commercial 10.3%
- Planned_development 9.5%
- Civic 8.6%
- Mixed use 0.1%
Largest Zones share of zoned land by district
Residential Zone
Public Facilities
Commercial Zone
Manufacturing Zone
Residential Zone
Orem, UT zones 11,930 acres across 65 districts. Commercial zoning covers 10.3% of zoned land, residential 60.7% and industrial 10.9%. The largest single district is Residential Zone at 39.7%. For commercial buyers the practical constraint is that only 21.3% of land carries a commercial or industrial designation.
Residential Zone (R8)
The R8 Zone is established to promote low density residential uses with a minimum lot size of 8000 square feet per lot, and to allow other selected uses which are compatible with the character of the zone
Market overview
Demographics & Economy
Orem, UT has 110,740 residents in 36,557 households. Density runs 4,332 people per square mile. Median household income here is $84,081 and median gross rent $1,460 a month.
110,740
Population
36,557
Households
3
Avg Household Size
27
Median Age
43%
College-Educated
94%
High-School Grad
25.6 sq mi
ZIP Area
4,332
Density / Sq Mi
$84,081
Median Household Income
$33,973
Median Earnings
$1,460
Median Rent
$449,897
Median Home Value
Tools
Lease vs Buy Breakeven
At $15.04/SF/Yr lease vs $246/SF buy → buying wins if held > 4.9 years.
At a 6.1% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Lindon | — | $17.35 |
| Pleasant Grove | — | — |
| American Fork | — | $17.63 |
Commercial property in Orem, UT asks $246/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Orem?
Commercial property in Orem, UT asks an average of $246 per square foot. Multifamily carries the highest asking price at $254/SF.
How much does it cost to lease commercial space in Orem?
Asking lease rates in Orem, UT average $15.04 per square foot per year.
Is it cheaper to lease or buy commercial space in Orem?
Buying beats leasing in Orem, UT if the property is held longer than 4.9 years, comparing $15.04/SF/Yr asking rent with $246/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
What zoning applies to commercial property in Orem?
Orem, UT zones 11,930 acres across 65 districts, of which 10.3% is commercial and 10.9% industrial. The largest single district is Residential Zone at 39.7% of zoned land. The R8 Zone is established to promote low density residential uses with a minimum lot size of 8000 square feet per lot, and to allow other selected uses which are compatible with the character of the zone Residential zoning covers 60.7% and open space 0%.
Where does Realmo's Orem market data come from?
Realmo compiles Orem, UT figures from 73 active sale listings, 64 active lease listings, 1,892 tracked off-market properties, the current Orem zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 73 active for-sale and 64 active for-lease listings in Orem, UT. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 11,930 zoned acres across 65 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at West region level, retail vacancy is reported at West region level and industrial vacancy is reported at West region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · report a data issue
