4668 S Redwood Rd - Drug Store FOR SALE


Salt Lake City, UT 84123
$5,471,428 USD
303-328-2050
4668 S Redwood Rd, Salt Lake City, UT for Sale
$5,471,428 USD
Drug Store - FOR SALE
1/6
null | 7% Cap Rate

4668 S Redwood Rd
Salt Lake City, UT 84123


HIGHLIGHTS

  • Nearly 10 Years Remaining on an Abs NNN Lease W/ No Landlord Responsibilities | Walgreens Recently Extended Lease Bringing the Firm Term to 2034
  • 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

OVERVIEW

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 10 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.

FOR SALE DETAILS

PRICE

$5,471,428 USD

PRICE/SF

$383 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens | Abs NNN Lease | 87K VPD

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2002

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.12 AC

LAND SF

92,347 SF

ZONING

CC

APN/PARCEL ID

21-03-380-022-0000,21-03-380-045-0000

ASK ABOUT THIS PROPERTY

Adam LewisMarcus & MillichapMore Info
303-328-2050

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Adam LewisMarcus & MillichapMore Info
303-328-2050

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.