RISE Services, Inc. Office Property In Orem, Utah Sold For $3.4M By Marcus & Millichap
703 South State Street Orem, Utah 84058, Usa
$3,411,615
$209/SF
Building Size
16,255 SF
Asset Type
Office
Closing
Jul 27, 2023
AI
RISE Services, Inc., a 16,255 square-foot office property located at 703 South State Street in Orem, Utah, has been sold for $3,411,615. The property was listed by Marcus & Millichap and the transaction was finalized on July 27, 2023.
Summary of transaction details
- Property Type: Office
- Sale Price: $3,411,615
- Square Footage: 16,255
- Price per Square Foot: $210
- Address: 703 South State Street, Orem, UT
- Market: Orem, UT
- Broker: Adam Lewis - Marcus & Millichap
Marcus & Millichap brokered the sale of RISE Services, Inc., representing the seller in this transaction. The deal showcases the expertise of Adam Lewis, the broker who successfully closed the sale. This sale is a significant milestone in the office property market of Orem, Utah.
Players
Syracuse Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.65%
Cash-on-Cash
-1.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93