1215 S Main St - Office FOR SALE


Orem, UT 84058- Westmore
$585,000 USD
801-787-7255
1215 S Main St, Orem, UT for Sale
$585,000 USD
Office - FOR SALE
1/27
null | Request Cap Rate

NEW


1215 S Main St
Orem, UT 84058
Westmore


OVERVIEW

Price: $585,000 2,195 Square Feet (Split evenly between main level and lower level) Standalone building Fantastic Location for Various Retail Uses or Professional Office Zoning: Planned Development (Same as University Mall and Most Shopping Along University Parkway) – Designed to allow flexible, mixed-uses. Parking: 10 Designated off-street parking spaces (More parking along street directly to west as needed) Very good visibility: Ideally located on Orem Main Street next to a 4-way stop. Owner has had a lot of high-quality walk-in traffic over the years Lit sign on north side of property Opportunity for owner/user, partial owner/user with mix of tenants, or, a full investment with multiple tenants Furniture: Seller willing to include some of the furniture and an ATV/Snowplow to use for clearing the parking lot via separate bill of sale at closing. Appliances also Included Originally built 1960, but has been nicely remodeled inside (see pics) Main Level Tenant 1 Tenant In place since 2017 Leases southeast office, shared conference room, reception and bathroom $1,200/mo full-service Lease is month-to-month Main Level Tenant 2 Sellers space – Currently Occupies main office at entrance, small second office, 1 office in the basement, and shared reception, bathroom, and conference room Opportunity to replace seller with a new tenant and create a full rental property Opportunity for buyer to come in and occupy whatever space is needed for their own business, and rent out the balance to help cover the mortgage Seller willing to stay in space until December 2026 Executive Suite Separate private entrance to lower-level executive suite Current occupant has leased the space on a month-to-month basis since 2022 Current lease rate is $1,000/month full- service, including utilities and operating expenses Existing configuration includes multiple private rooms, kitchenette area, restroom, and flexible common area/workspace Potential opportunity for additional supplemental income, with the full lower- level executive suite configuration estimated to support lease rates of approximately $1,500/month or more depending on use and terms Property Expenses $950/mo average between 2024 and 2025 – Includes taxes, insurance, utilities, internet, and common area maintenance (Neighbor currently maintenance lawn and trimming for $200/mo). This average included a new $3000 water heater replaced.

FOR SALE DETAILS

PRICE

$585,000 USD

PRICE/SF

$273 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

ADD'L SUBTYPES

Day Care Center, Loft/Creative Space, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1960

SPRINKLERS

-

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,853 SF

ZONING

Commercial

APN/PARCEL ID

19-014-0089

ASK ABOUT THIS PROPERTY

Aaron CookCORE Utah Real EstateMore Info
801-787-7255

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Aaron CookCORE Utah Real EstateMore Info
801-787-7255

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.