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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
$6,852,090 CAD
Price Per SF
$511.85 CAD
Cap Rate
6%
NOI
$411,149 CAD
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 | $4,676,164 CAD |
| Land Assessment | $3,121,711 CAD | Total Assessment | $7,797,875 CAD |
Property Taxes
Parcel Number
18-051-0066
Land Assessment
$3,121,711 CAD
Improvements Assessment
$4,676,164 CAD
Total Assessment
$7,797,875 CAD
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