255 36Th St, Ogden, UT 84405
14,736 SF | Retail Building | Ogden, UT 84405 | $4,250,000 ($288/SF) | 8.85% Cap Rate
For Sale
Active
Asking Price $4,250,000
- Property Type
-
Retail
- Square Feet
- 14,736 SF
- Price / Square Foot
- $288
Listing Contacts
- Property Info
Property Overview
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in an absolute NNN, investment grade (S&P: BBB), drive-thru equipped, Walgreens investment property located in South Ogden, Utah, (Salt Lake City MSA). The tenant, Walgreens, has over five years of lease term remaining with an additional 10 five-year option periods to extend. The corporate entity signed the lease (S&P: BBB | NASDAQ: WBA) and is an absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment for a passive investor. Founded in 1901, Walgreens is among the United States’ largest pharmacies and health and beauty companies, with nearly 9,000 operating stores.
Walgreens is strategically located at the signalized, hard-corner intersection of Riverdale Road and 36th Street, averaging 72,800 vehicles passing by daily. The asset benefits from nearby access to Interstates 15 and 84, making this a centralized location with easy commutes for employees and customers. The asset is ideally situated within a dense retail trade area. It is near The Family Center at Riverdale (more than 351,000 square feet), Riverdale Center (more than 658,000 square feet), Newgate Mall (more than 703,000 square feet), and other major shopping centers. The nearby tenants include Costco, Macey’s, Smith’s, Petco, The Home Depot, and Walmart Supercenter. The surrounding national and regional tenant presence drives a steady stream of loyal, local consumers and promotes crossover store exposure.
Furthermore, the property is near numerous single-family communities and multifamily complexes, including The Rainier (120 units), Greenhill at Riverdale (145 units), Seasons on Riverdale (180 units), and others, providing a direct residential consumer base. Over 171,600 residents and 86,600 daytime employees support the five-mile trade area, with a healthy average household income of $91,327.
Walgreens is strategically located at the signalized, hard-corner intersection of Riverdale Road and 36th Street, averaging 72,800 vehicles passing by daily. The asset benefits from nearby access to Interstates 15 and 84, making this a centralized location with easy commutes for employees and customers. The asset is ideally situated within a dense retail trade area. It is near The Family Center at Riverdale (more than 351,000 square feet), Riverdale Center (more than 658,000 square feet), Newgate Mall (more than 703,000 square feet), and other major shopping centers. The nearby tenants include Costco, Macey’s, Smith’s, Petco, The Home Depot, and Walmart Supercenter. The surrounding national and regional tenant presence drives a steady stream of loyal, local consumers and promotes crossover store exposure.
Furthermore, the property is near numerous single-family communities and multifamily complexes, including The Rainier (120 units), Greenhill at Riverdale (145 units), Seasons on Riverdale (180 units), and others, providing a direct residential consumer base. Over 171,600 residents and 86,600 daytime employees support the five-mile trade area, with a healthy average household income of $91,327.
Property Details
- Class
- B
- Year Built
- 2004
- Stories
- 1
- Property Subtype
- Drug Store, Freestanding
- Lot Size (sq. ft)
- 115,434 SF
Highlights
- 255 36th St is a 14,736-square-foot Walgreens on an Absolute NNN lease with over five years remaining.
- This drive-thru pharmacy is located at a signalized, hard corner intersection within a centralized locale of Ogden, Utah, a dense retail trade area.
- Stabilized opportunity enables a new buyer to oversee an investment-grade national tenant with a well-known and established brand.
- Premier opportunity to direct the encompassing residential consumer base – nearly 88,600 residents within the asset’s 3-mile radius.
- 255 36th Street is also within Ogden’s Opportunity Zone, providing further tax incentive initiatives.
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