Walgreens Pharmacy Investment
For Sale
Contact for pricing
Pending
4668 S Redwood Rd, Taylorsville, UT 84123
High-traffic location with a strong-performing Walgreens pharmacy.
Property Size14,461 SF
Lot Size2.12 Acres
Days on Market179
Property Features for 4668 S Redwood Rd
General Information
Standard status
Pending
Size
14,461 SF
Lot size
2.12 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$383,000
Building Details
Tenancy
Single
Listing Agency:
Marcus & Millichap - Denver
(303) 328-2000
Listed By:
Adam Lewis · License #CO. ER100091205
Source:
Crexi
Added: Feb 13
Changed: Aug 8
Last Checked: Aug 11 at 7:16AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Denver
Investment Insights
Based on property information with market context.
This property presents an opportunity to acquire a Walgreens pharmacy in Taylorsville, UT. The building encompasses 14,280 square feet and is situated on a 2.12-acre lot with parking at a ratio of 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 demonstrated strong performance. Positioned at a high-traffic intersection with over 87,000 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 position in the local market. As the largest retail pharmacy chain in the U.S. and Europe, this property represents an opportunity for investors seeking a reliable, high-performing asset in a thriving area.
Key Highlights
- Absolute Triple Net (NNN) Lease with Walgreens: Provides passive income.
- Strong Performing Location: A reliable investment with demonstrated success.
- High‑Traffic Intersection: Located at a prominent intersection with over 87,000 vehicles passing daily.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$232,052
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.85%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,641,040
$4.6M
Cap Rate 7%
$3,315,029
$3.3M
Cap Rate 9%
$2,578,356
$2.6M
Market Conditions
NOI Build-Up for 14,461 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$317.6K $21.96/SF
− Vacancy
−$8.2K −$0.56/SF
EGI
$309.4K $21.40/SF
− OpEx
−$77.4K −$5.35/SF
NOI
$232.1K $16.05/SF
Area
Salt Lake County, UT
Vacancy
2.57%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,641,040
Cap Rate 7%
$3,315,029
Cap Rate 9%
$2,578,356
Alternative Uses
Best Use
Specialty Retail
$3.32M
$2.90M – $3.87M
NOI $232,052 @ 7.0% cap · market cap 4.85%
Second Best
Retail
$3.09M
$2.71M – $3.61M
NOI $216,582 @ 7.0% cap · market cap 4.52%
Theoretical Best
Multifamily LT 5
$192.55M
$168.48M – $224.65M
NOI $13,478,748 @ 7.0% cap · market cap 281.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
565
Businesses Nearby
95k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 41%
Groceries 31%
Dining 25%
Home Improvements & Furnishings 3%
Macey's
Groceries
29,153 visits/mo
0.2 miles
Speedway
Shops & Services
9,543 visits/mo
0.4 miles
Del Taco
Dining
9,522 visits/mo
0.0 miles
Mister Car Wash
Shops & Services
8,346 visits/mo
0.1 miles
Speedway
Shops & Services
7,162 visits/mo
0.3 miles
Demographics for 84123, UT
39,489
Population
14,716
Households
2.7
Avg Household Size
34
Median Age
28%
College-Educated
91%
High-School Grad
8.3 sq mi
ZIP Area
4,758
Density / Sq Mi
$80,079
Median Household Income
$42,195
Median Earnings
$1,416
Median Rent
$436,600
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Amber Macart, PharmD — 1837 4700 S, Salt Lake City, UT 84118
- Phung Matthews, Pharm — Salt Lake City, UT 84118
- John M. Simpson, RPh — 1837 4700 S, Salt Lake City, UT 84118
- lifegoals4you — 4857 pinewood dr, taylorsville, ut 84123
- Mary & Mary Alabaster Oils — 4883 S Redwood Rd, Taylorsville, UT 84123
Frequently Asked Questions
What type of property is this?
Drug store - High-traffic location with a strong-performing Walgreens pharmacy.
Where is this drug store located?
The property is located at 4668 S Redwood Rd Taylorsville, UT.
What is the asking price?
The asking price for this property is $4,787,500.
What are key features of this property?
This property features: Absolute Triple Net (NNN) Lease with Walgreens: Provides passive income.; Strong Performing Location: A reliable investment with demonstrated success.; High‑Traffic Intersection: Located at a prominent intersection with over 87,000 vehicles passing daily.
