CVS Pharmacy with
New
For Sale
$6,079,645
50 S Fort Ln, Layton, UT 84041
The freestanding store operates under an absolute NNN lease backed by a corporate guaranty.
Property Size14,885 SF
Lot Size1.60 Acres
Price / SF$408.44
Days on Market1
Property Features for 50 S Fort Ln
General Information
Standard status
Active
Size
14,885 SF
Lot size
1.60 Acres
Property subtype
Drug Store
Lease Type
Absolute Net
Financials
Asking Price
$6,079,645
Cap Rate
5.5%
Gross Income
$334,380
Site & Location
Corner Location
Yes
Drive-Thru
Yes
Highway Access
Yes
Amenities
Absolute NNN Lease | Zero Landlord Responsibilities
±18 Years Remaining (Expires January 2045)
CVS Corporate Guaranty
Assumable 3.86% Fixed-Rate Debt, Fully Amortizing by 2041
Ten 5-Year Renewal Options
2018 Construction | ±14,885 SF on ±1.60 AC w/ Drive-Thru
Signalized Corner Off I-15 Interchange (±140,744 VPD)
Near Hill AFB, Utah's Largest Single-Site Employer (26,893 Personnel)
Building Details
Building Size
14,885 SF
Year Built
2018
Buildings
1
Tenancy
Single
Listing Agency:
Marcus & Millichap - Denver
Listed By:
Adam Lewis · License #License(s) UT: 6250302-PB00
(303) 328-2000
Source:
Marcusmillichap
Added: Oct 19
Last Checked: Oct 19 at 2:33PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This freestanding CVS Pharmacy was built in 2018 and contains 14,885 square feet on approximately 1.60 acres. A drive-through serves the store, which is leased on an absolute NNN basis with a CVS corporate guaranty. The lease began in October 2019, extends through January 2045, and includes ten five-year renewal options. The stated cap rate is 5.50%.
The property occupies the signalized intersection of Fort Lane and Gentile Street. Reported traffic counts are approximately 18,865 vehicles per day on Fort Lane and 13,611 on Gentile Street; the I-15 interchange carries approximately 140,744 vehicles per day. Fort Lane Shopping Center, with WinCo Foods, Wells Fargo, and Culver's, is next to the site.
The property occupies the signalized intersection of Fort Lane and Gentile Street. Reported traffic counts are approximately 18,865 vehicles per day on Fort Lane and 13,611 on Gentile Street; the I-15 interchange carries approximately 140,744 vehicles per day. Fort Lane Shopping Center, with WinCo Foods, Wells Fargo, and Culver's, is next to the site.
Key Highlights
- 14,885‑square‑foot CVS Pharmacy built in 2018
- Drive‑through and approximately 1.60‑acre site
- Absolute NNN lease with CVS corporate guaranty
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$204,653
Cap Rate
3.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,093,060
$4.1M
Cap Rate 7%
$2,923,614
$2.9M
Cap Rate 9%
$2,273,922
$2.3M
Market Conditions
NOI Build-Up for 14,885 SF
Gross rent
$289.4K $19.44/SF
− Vacancy
−$16.5K −$1.11/SF
EGI
$272.9K $18.33/SF
− OpEx
−$68.2K −$4.58/SF
NOI
$204.7K $13.75/SF
Area
Davis County, UT
Vacancy
5.70%
Lease Rate
$19.44 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,093,060
Cap Rate 7%
$2,923,614
Cap Rate 9%
$2,273,922
Alternative Uses
Best Use
Specialty Retail
$2.92M
$2.56M – $3.41M
NOI $204,653 @ 7.0% cap · market cap 3.37%
Second Best
Retail
$2.57M
$2.25M – $3.00M
NOI $179,920 @ 7.0% cap · market cap 2.96%
Theoretical Best
Office A
$3.44M
$3.01M – $4.01M
NOI $240,647 @ 7.0% cap · market cap 3.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
775
Businesses Nearby
45k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 61%
Dining 39%
7-Eleven
Shops & Services
15,467 visits/mo
0.2 miles
Maverik Adventures First Stop
Shops & Services
11,831 visits/mo
0.5 miles
Handel's Ice Cream
Dining
8,991 visits/mo
0.1 miles
Jersey Mike's Subs
Dining
6,088 visits/mo
0.2 miles
Wingstop
Dining
2,718 visits/mo
0.2 miles
Demographics for 84041, UT
55,289
Population
19,171
Households
2.9
Avg Household Size
30
Median Age
31%
College-Educated
95%
High-School Grad
14.9 sq mi
ZIP Area
3,711
Density / Sq Mi
$87,608
Median Household Income
$43,804
Median Earnings
$1,404
Median Rent
$395,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Similar Off Market Nearby
- Intermountain Pharmacy Layton Parkway Clinic — 201 layton pkwy, layton, ut 84041
- Park View Pharmacy — 425 S 100 W, Layton, UT 84041
- CVS — 50 S Fort Ln, Layton, UT 84041
- CVS Pharmacy — 50 S Fort Ln, Layton, UT 84041
Frequently Asked Questions
What type of property is this?
Drug store - The freestanding store operates under an absolute NNN lease backed by a corporate guaranty.
Where is this drug store located?
The property is located at 50 S Fort Ln Layton, UT.
What is the asking price?
The asking price for this property is $6,079,645.
What are key features of this property?
This property features: 14,885‑square‑foot CVS Pharmacy built in 2018; Drive‑through and approximately 1.60‑acre site; Absolute NNN lease with CVS corporate guaranty
