CVS Property For Sale in UT 84003 - Great Investment Prop...

 
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Tyler Ellinger

Marcus & Millichap

Office Phone: 801-736-2632

Cell Phone: 801-736-2632

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Published on: Monday, February 23, 2015 3:46:49 PM
Updated on: Monday, February 23, 2015 3:46:49 PM
Purchase with B2B
Purchase with B2B
 Purchase with Business to Business
Quick Glance

Listing ID: CL-Utah-40983

Status: Accepting Offers

Financing: No Financing Available

Occupancy: 100%

Year Build: 0

 

Building Size: 13,015 SqFt

Lot Size: 75,388 SqFt.

No of Stories: 1

No of Parking: 0

Business Available for Sale: No

Is Net Lease Investment: Yes

Property On Ground Lease: No

Building Status: Existing

 Details

Offer to Millionaire Club: No

Listing Summary: Subject property is prominently located on the hard, signalized intersection of State Road 92 and State Road 74 in Highland, Utah. On a 1.73-acre lot, CVS Pharmacy will occupy a newly constructed 13,013 SF building with no landlord responsibility. A brand new 25-year triple net ground lease is corporate guranteed and includes eight, 5-year Options. Average household income within a five-mile radius is $93,344. Approximately 17,820 vehicles pass the property each day.

Acquisition Option Selected: Traditional Purchase

Cap Rate (%): 5.5

Commission Split (%): 1.22

Complete Details


Year Build: 0

Building Size: 13,015 SqFt.

No of Stories: 1

Total Lot Area: 75388.00 SqFt.

No of Parking: 0

No of Total Units: 1

Property Current Status: Normal Sale

Building Status: Existing

Heating and Cooling: Not Specified

Building Class: Not Specified

Property on Ground Lease?: No

Net Lease Investment?: Yes

Business Price Included?: No

Roofing: Not Specified

Occupancy: 100%

Full Description


CVS Pharmacy is the second largest pharmacy chain in the United States, with more than 7,600 stores, and is the second largest US pharmacy based on total prescription revenue. As the retail pharmacy division of CVS Health, it ranks as the 12th largest company in the world according to Fortune 500 in 2014. Nearby businesses include Ridley's, Anytime Fitness, Taco Time, Subway, Wells Fargo, Domino's Pizza, Little Caesars, Jiffy Lube, Blue Lemon, Wendy's, Wal-mart, and more. Less than six miles away, an IASIS Healthcare hospital is under construction. Mountain Point Medical Center is located at 2000 West 3000 North in Lehi, Utah. A 185,000 square foot, 2-story building will be Lehi' s first hospital. It will have 40 beds and include an emergency department, 4 operating rooms, and a 3-story medical office building. There is a future expansion area of 74,000 square feet.

Additional Properties


Property Highlights
  • Brand New 25-year Absolute NNN Ground Lease
  • Household Income over $93,000 Within a Five-Mile Radius
  • Six Miles Away From Utah Counties Newest Hospital Targeted For Completion in Spring 2015
  • Household Income over $93,000 Within a Five-Mile Radius
  • Gateway to Timpanogos Cave National Monument and Utah's Alpine Scenic Loop Byway

Attached Documents


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