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

    562 University Pkwy Orem, UT 84097-7745

    • Strip malls
    • 26,995 SF
    • 3.01 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US86-0700462
    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

    • The Covery Wellness Spa / Wellness Center

    Property Details for 562 University Pkwy

    Year built
    1996
    Lot size
    3.01 lot acres
    Property size
    26,995 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    19-018-0023
    APU
    190180023

    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
    -111.682
    Latitude
    40.273
    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
    $72,842
    $0.00
    $0.00
    $9,573,200
    -
    $5,753,100
    $3,820,100
    $9,573,200

    Comparable in this City

    • Value Estimation by Request
      2,591 SF

      1435 State St

      SHOPPING CENTER, STRIP CENTER • 2,591 SF
      1435 State St, Orem, UT 84097-7703
      View Details
    • Value Estimation by Request
      4,331 SF

      1163 State St

      SHOPPING CENTER, STRIP CENTER • 4,331 SF
      1163 State St, Orem, UT 84097-8229
      View Details
    • Value Estimation by Request
      3,118 SF

      1413 State St

      SHOPPING CENTER, STRIP CENTER • 3,118 SF
      1413 State St, Orem, UT 84097
      View Details
    • Value Estimation by Request
      6,434 SF

      1481 State St

      SHOPPING CENTER, STRIP CENTER • 6,434 SF
      1481 State St, Orem, UT 84097-7703
      View Details
    • Value Estimation by Request
      5,703 SF

      1405 State St

      SHOPPING CENTER, STRIP CENTER • 5,703 SF
      1405 State St, Orem, UT 84097-7703
      View Details
    • Value Estimation by Request
      1,072 SF

      594 800th S, Unit 201

      SHOPPING CENTER, STRIP CENTER • 1,072 SF
      594 800th S, Orem, UT 84097-6302
      View Details

    Similar Nearby for Sale

    • $1,100,000
      0.26 Acres

      Orem Retail Investment Opportunity

      High-traffic corner lot, prime location.
      984 State St, Orem, UT 84097
      View Details
    • $5,777,778

      Retail Property For Sale

      Retail property available for purchase in Orem, Utah.
      1320 S State St, Orem, UT 84097
      View Details
    • $3,480,000

      Freestanding Building with I-15 Signage

      Freestanding building with high traffic and NNN lease.
      935 N 1200 W, Orem, UT 84097
      View Details
    • $1,950,000
      0.42 Acres

      Orem Commercial Building For Sale

      Commercial building with retail, office, and warehouse space in Orem.
      1797 S State St, Orem, UT 84097
      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
    • 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

    Similar Nearby for Lease

    • Contact for pricing
      70,132 SF

      Renovated Retail Spaces Available

      Three newly renovated retail spaces available for lease in Orem.
      1160 S State St, Orem, UT 84097
      View Details
    • $8,151,080
      3,800 SF

      Remodeled Space on State Street

      3,800 SF remodeled space available for lease.
      1632-1658 S State St, Orem, UT 84097
      View Details
    • $17 SF/Yr
      11,633 SF

      Orem Coworking Space For Lease

      Modern coworking office suites in prime Orem location.
      1875 State St, Orem, UT 84097
      View Details
    • $13 SF/Yr
      3,732 SF

      Orem Office Space For Rent

      Office space for rent in the heart of Orem.
      568 E 1400 S, Orem, UT 84097
      View Details
    • $25 SF/Yr
      7,227 SF

      University Place Office Space For Lease

      7,227 sq ft Class A Office Suite
      575 University Pkwy, Orem, UT 84097
      View Details
    • $13 SF/Yr
      12,000 SF

      Prime Orem Office Space Available

      12,000 SF Office Building, 6,000 SF Divisible
      1178 State St, Orem, UT 84097
      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.
    562 University Pkwy
    Orem, UT 84097-7745
    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.