Walgreens STNL Investment
Absolute Net Lease • Walgreens Investment Opportunity
Marketing description
Newmark Mountain West is proud to present the opportunity to acquire a Single-Tenant Walgreens at 420 S. Main St. anchors the walkable, historic downtown of Springville, Utah, a fast-growing, family-oriented “Art City” of about 35,500 residents known for its pioneer heritage, the Springville Museum of Art, and stunning Wasatch Mountain views. This affordable, middle-class community offers a classic small-town feel with local favorites like Magleby’s restaurant, Cafe Rio, and Ream’s Market nearby, plus easy access to parks, Hobble Creek Canyon trails, and top-rated schools. Open daily until 11 PM with a drive-thru pharmacy, the store serves as a convenient everyday hub in a safe, artsy, and outdoors-focused suburb just minutes from Provo and I-15.
Investment highlights
25 YEAR ABSOLUTE NET LEASE | RENEWAL OPTIONS | MINIMAL LANDLORD RESPONSIBILITIES Walgreens signed a twenty-five (25) year in April 2005. The absolute-net (NNN) lease requires limited landlord responsibilities, with the tenant being responsible for all maintenance and repairs to, the property, making it ideal for both local and out-of-area investors. The lease also features 8 -five year renewal options providing a hedge against inflation and significant income growth. Walgreens lease is set to expire January 2031.
EXCELLENT ACCESS & VISIBILITY The property is located conveniently on the hard corner of heavily trafficked Main Street and 400 South which serves as the primary access roads with an average of 37,700+ daily traffic counts.
ATTRACTIVE TENANTS The offering benefits from a strong nationally-recognized tenant line up in the immediate area, excellent credit anchors, sustainable rents, long-term leases and seasoned tenancy, in an irreplaceable location that caters to a high-income population within a growing market. Walgreens will continue to be a dominate pharmacy within a robust trade area for the foreseeable future.
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