265 Center St Orem, UT 84057
- Retail properties
- 0.27 lot acres
Current Use by Public Records
- Dr. Richard Leishman, DDS / Dentist
- Dr. J C. Crawford, DDS / Dentist
- Dwell Salon & Suites / Hair Salon
- Retro Honey Tattoo / Tattoo Artist
- ACAT Tattoo / Tattoo Artist
Property Details for 265 Center St
- Lot size
- 0.27 lot acres
- Property type
- Retail properties
Description
This exceptional Class A retail investment property, located at 265 W Center St, Orem, UT 84057, presents a compelling opportunity. The 5,851 square foot, two-story building sits on a 0.27-acre lot (APN 53:279:0001) and is zoned C-2. Currently boasting 100% occupancy with a Net Operating Income (NOI) of $158,752, resulting in a 6.61% cap rate and a pro-forma cap rate of 8.20%, this property offers significant potential. The asking price is $2,400,000. Situated on a high-traffic street (33,785 ADT) in a strong retail corridor, the property benefits from a robust demographic profile: 133,713 people within a 3-mile radius, with an average household income of $105,309. The building comprises sixteen private salon suites, consistently in high demand. The current tenant is month-to-month, allowing for flexibility for an owner-occupant or a longer-term lease. The property offers a full-service operation, with the landlord responsible for building maintenance, lawn care, utilities, financial institution fees, insurance, and taxes. This turnkey investment presents a rare opportunity to acquire a small, multi-tenant building in a prime location with excellent growth potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Orem
- County
- Utah
- State
- Utah
- Longitude
- -111.703
- Latitude
- 40.2969
