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774 S State St
Orem, UT 84058
Department of Veterans Affairs (VA) · Retail Property For Sale
Investment Highlights
- Long-Term Lease to the U.S. Government: Secured by a 20-year net lease to the Department of Veterans Affairs, backed by the full faith and credit
- Significant Tenant & Landlord Investment: The building was completely rebuilt in 2020 with no deferred maintenance
- Essential Medical Use: Internet-resistant healthcare tenancy supported by an overall shortage of VA facilities and consistent long-term demand
Executive Summary
A long-term federal government medical investment leased to the United States Department of Veterans Affairs in the Mountain West Region. The facility is positioned on a signalized hard corner with multiple access points and ample parking in one of the region’s primary north-south commercial corridors. It benefits from dense, affluent, growing demographics, with a population of 231,324 within a 5-mile radius.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
13,387 SF
Building Class
B
Year Built/Renovated
1999/2020
Price
$4,870,000
Price Per SF
$363.79
Cap Rate
6%
NOI
$292,217
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
2.44 AC
Parking
40 Spaces (2.99 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Pylon Sign
- Signage
- Signalized Intersection
Property Taxes
| Parcel Number | 18-051-0066 | Improvements Assessment | $3,117,000 |
| Land Assessment | $2,157,900 | Total Assessment | $5,274,900 |
Property Taxes
Parcel Number
18-051-0066
Land Assessment
$2,157,900
Improvements Assessment
$3,117,000
Total Assessment
$5,274,900
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