Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • 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
    Property profile & analytics

    243 Geneva Rd Orem, UT 84058-5110

    • Office buildings
    • 2,500 SF
    • 3.66 lot acres
    OFF-MARKET
    Last Sale
    Dec 07, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US86-1161033
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Public Storage / Self-Storage Facility / Automobile Storage Facility

    Property Details for 243 Geneva Rd

    Year built
    1999
    Lot size
    3.66 lot acres
    Property size
    2,500 SF
    Property type
    Office buildings
    APN
    57-093-0001
    APU
    570930001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Orem
    County
    Utah
    State
    Utah
    Longitude
    -111.733
    Latitude
    40.2936
    CBSA code
    39340
    CBSA name
    PROVO-OREM, UT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $34,326
    $0.00
    $0.00
    $4,511,300
    -
    $1,347,700
    $3,163,600
    $4,511,300

    Comparable in this City

    • Value Estimation by Request
      800 SF

      1366 130th S

      OFFICE BUILDING • 800 SF
      1366 130th S, Orem, UT 84058-5136
      View Details
    • Value Estimation by Request
      800 SF

      1370 130th S

      OFFICE BUILDING • 800 SF
      1370 130th S, Orem, UT 84058-5136
      View Details
    • Value Estimation by Request
      872 SF

      1109 Orem Blvd, Unit A-B

      OFFICE BUILDING • 872 SF
      1109 Orem Blvd, Orem, UT 84058-6931
      View Details
    • Value Estimation by Request
      19,090 SF

      260 1200th W

      OFFICE BUILDING • 19,090 SF
      260 1200th W, Orem, UT 84058-5129
      View Details
    • Value Estimation by Request
      723 SF

      108 Mtn Way Dr

      OFFICE BUILDING • 723 SF
      108 Mtn Way Dr, Orem, UT 84058-5118
      View Details
    • Value Estimation by Request
      887 SF

      1123 Orem Blvd

      OFFICE BUILDING • 887 SF
      1123 Orem Blvd, Orem, UT 84058-6976
      View Details

    Similar Nearby for Sale

    • $4,200,000
      17,000 SF

      Orem Office Building For Sale

      Office building with private offices, gym, and ample parking.
      1358 Business Park Dr, Orem, UT 84058
      View Details
    • Contact for pricing
      3.15 Acres

      Logan Retail Land - 3.15 Acres

      Prime Commercial Land, Highway 89 Frontage
      1200 Hwy 89, Vineyard, UT 84058
      View Details
    • $230,000
      0.23 Acres

      Residential Land Near UVU

      0.23 acre lot near UVU, ready to build.
      350 S 1200 W, Orem, UT 84058
      View Details
    • $254,900
      794 SF

      Updated Condo Near Universities

      Updated condo with new features, conveniently located near universities.
      1030 S Orem Blvd, 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
    • $250,000
      783 SF

      Move-In Ready Condo Near University

      Charming condo with new upgrades, convenient location, and open floorplan.
      1050 S Orem Blvd, Orem, UT 84058
      View Details

    Similar Nearby for Lease

    • $1,640 /Mo
      960 SF

      Orem Blvd Office Suite

      Second floor office suite with kitchenette and private restroom.
      513 S Orem Blvd, Orem, UT 84058
      View Details
    • $12 SF/Yr
      1,472 SF

      Orem Office and Warehouse Space

      Office and warehouse space with I-15 access in Orem.
      160 Mountain Way Dr, Orem, UT 84058
      View Details
    • $1,200,000
      18,731 SF

      Remodeled Commercial Building in Orem

      Remodeled commercial building suitable for office, medical, retail, or school.
      536 S State St E, Orem, UT 84058
      View Details
    • $19 SF/Yr
      12,786 SF

      Stonehenge Office: Orem, UT

      Prime Orem Office Space - Move-in Ready
      36 400, Orem, UT 84058
      View Details
    • $1.27 SF/Yr
      20,600 SF

      Washington County Office/Warehouse Units

      Office and warehouse units in central Washington County available for rent.
      526 S Commerce Dr, Hurricane, UT 84058
      View Details
    • $9 SF/Yr
      7,854 SF

      Orem Office Building - 7,854 SF

      Prime Orem office space, 2,500 SF available.
      315 1200, Orem, UT 84058
      View Details
    Request Owner's contact information
    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.
    243 Geneva Rd
    Orem, UT 84058-5110
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.