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Views: 135 DOM: 519 Updated: 08.06.24 Posted: 06.21.23 Status: Active

Summary

Price $5,100,000
Built/Renov 2004
Tenant Walgreens
Cap Rate 6.31%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,820
Lease Start 07-01-2004
#Units 13,532
Price/SF $344.13
Expiration 06-30-2029
Tenant Type Pharmacy
NOI $321,996
R. Term 4.7
Ownership Fee Simple
Rent/SF $21.73
Increases 0.0%/0/yrs
Pop 5Mi 187,632
Lot/AC 1.71
Options 10/5yrs
AHHI 5Mi $100,228

Lease Highlights

  • Walgreen has been operating in this location since 2004
  • Tenant has 6 years remaining on the current lease term with 10 (5-year) options to extend
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee by Walgreens Boots Alliance (NASDAQ: WBA)
  • Walgreens is an investment grade tenant (S&P: BBB)

Location Description

This 14,820 square foot Walgreens is situated on a 1.71 acre parcel and is strategically located at the signalized, hard-corner intersection of W. 1800 N and State Highway 108, averaging a combined 39,400 vehicles passing daily. The site benefits from nearby direct on/off ramp access to Interstate 15, a major thoroughfare serving the greater Salt Lake City metropolitan area averaging 125,000...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Walgreens is an American company that operates the second-largest pharmacy store chain in the United States. It specializes in filling prescriptions, health and wellness products, health...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 13,277 92,400 198,729
2023 Total Population : 13,061 90,429 190,775
2023 Employed Civilian Pop : 5,962 45,243 93,787
2023 Total Businesses : 207 1,062 2,617
2023 Average Household Income : $ 117,832 $ 106,460 $ 108,568
2023 Total Consumer Spending : $ 382 M $ 2525 M $ 5559 M
2023 Median Age : 29 31 31
2023 Total Households : 3,772 27,635 59,443
2023 Pop Age 25+: Bachelor's Degree : 1,399 10,187 21,918
2023 Average Home Value : $ 460,119 $ 439,447 $ 443,500
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
N 2000 W W 1800 N 2018 17,801 0.12 mi
N 2000 W W 2220 N 2018 21,370 0.26 mi
West 1800 North N 1500 W 2017 18,000 0.46 mi
West 2300 North W 2300 N 2017 21,000 0.47 mi
West 1300 North N 2000 W 2017 18,000 0.54 mi
West 1800 North N 2530 W 2017 16,000 0.54 mi
W 2300 N N 1500 W 2011 5,180 0.58 mi
West 1800 North 2018 17,852 0.60 mi
North 1500 West W 1300 N 2017 1,200 0.70 mi
West 1300 North N 2530 W 2017 1,200 0.76 mi

Listing Broker

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