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32345365
32345366

4668 South Redwood Road, Taylorsville, UT 84123

AL
UT 6250302-PB00, CO CO. ER100091205 (+5)
Marcus & Millichap - Denver
Listed by Marcus & Millichap - Denver
$4,787,500
32 days on market
Updated 32 days ago

Walgreens | Abs NNN Lease | 87K VPD | Salt Lake City MSA

Details
Property Type Retail
Sub Type Grocery Store, Pharmacy/Drug (+1)
Square Footage 14,461
Net Rentable (SqFt) 14,461
Cap Rate 8%
NOI $383,000
Occupancy 100%
Tenancy Single
Brand/Tenant Dollar General, Walgreens (+5)
Lease Expiration 08/31/2034
Rent Bumps No
Acreage 2.120
Tenant Credit Corporate Guarantee
Lease Commencement 08/09/2002
Ground Lease No

22-Year Operating Tenant | 3-Mile Population: 155,801

Marketing description

Marcus & Millichap is excited to present an excellent opportunity to acquire a Walgreens pharmacy in Taylorsville, UT. The property, encompassing 14,280 square feet, is situated on a generous 2.12-acre lot with ample parking availability at 5.85 spaces per 1,000 square feet. Walgreens operates under an absolute triple net lease with nearly 9 years remaining on the original term, along with 9 optional 5-year renewals. The location has consistently demonstrated strong performance.

Positioned at a high-traffic intersection with over +87K vehicles passing daily, the property is also close to major highways like I-15 and I-25, which carry over 300,000 vehicles daily combined. The surrounding area serves a population of over 155,801 people within three miles and 383,000 within five miles, including key institutions like Salt Lake Community College, nearby senior housing, and several schools. Walgreens has solidified its dominance in the local market, effectively eliminating nearby competitors such as Rite Aid. With its reputation as the largest retail pharmacy chain in the U.S. and Europe, this property represents a standout opportunity for investors seeking a reliable, high-performing asset in a thriving area.

Investment highlights

  • Nearly 9 Years Remaining on an Absolute NNN Lease With No Landlord Responsibilities | Walgreens Recently Extended Their Lease Bringing the Firm Term to 2034
  • Lease Is Corporate Guaranteed by Walgreens Co. | Tenant Has Been at This Location for 22.5 Years Showing Their Commitment to This Location
  • Excellent Location on Redwood Rd (39,363K VPD) Just off the W Taylorsville Expressway (47,140K VPD) in the Heart of Salt Lake City MSA
  • Just 1 Block from the Salt Lake Community College, Which Has an Average Annual Enrollment of 35K Students.
  • Walgreens (NYSE: WAG) Is the Second Largest Pharmacy Store Chain in the United States | Over 8,600 Locations | 2023 Total Revenue Over $142.4B

Listing Contacts

AL
UT 6250302-PB00, CO CO. ER100091205 (+5)
Marcus & Millichap - Denver
Listed by Marcus & Millichap - Denver

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$383,000.00
$31,916.67/mo

Valuation Metrics

0
DSCR
8%
Cap Rate
8%
ROI

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Additional Information

Name
Adam Lewis
License
UT 6250302-PB00
Title
Broker of Record
Name
Adam Lewis
License
6250302-PB00
Brokerage
Marcus & Millichap
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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