338 State Rd American Fork, UT 84003
- Strip malls
- 37,588 SF
- 2.38 lot acres
Dec 20, 2024
Current Use by Public Records
- Strip malls
Property Details for 338 State Rd
- Year built
- 1998
- Lot size
- 2.38 lot acres
- Property size
- 37,588 SF
- Property type
- Strip malls
- Property subtype
- Neighborhood centers
- APN
- 02-012-0032
- APU
- 20120032
Description
This exceptional American Fork, Utah commercial property, located at 338 E State Rd, presents a compelling investment opportunity. The 37,588 square foot building, constructed in 1998, sits on a single lot (APN 02-012-0032) and features two stories. Currently operating at 100% occupancy with multiple tenants, this property offers a strong, stable income stream. The building is zoned for commercial use and boasts a net lease structure. Financial projections indicate a pro-forma NOI of $480,000 and a pro-forma cap rate of 7.74%, representing a significant return on investment. The property is categorized as hospitality, office, retail, and special purpose, with subtypes including religious/church, school, and traditional office, offering considerable flexibility for future use. The asking price is $6,200,000. The property consists of one building with five units. Approximately 30,000 square feet is currently available for lease. This is a value-add investment opportunity suitable for both owner-users and investors seeking a high-performing asset in a desirable location. The property's versatility and strong occupancy make it an attractive prospect for a wide range of buyers.
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
- American Fork
- County
- Utah
- State
- Utah
- Longitude
- -111.79
- Latitude
- 40.3741
- CBSA code
- 39340
- CBSA name
- PROVO-OREM, UT METROPOLITAN STATISTICAL AREA
