1235 State St Hurricane, UT 84737-3539

Property Details for 1235 State St

Year built

2008

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.48 lot acres

Property size

14,739 SF

Property type

Commercial real estate

APN

H-SBTS-9

APU

HSBTS9

Description

This exceptional investment opportunity features a 14,820-square-foot Walgreens located at 1235 W State St, Hurricane, UT 84737. The property sits on a 1.55-acre lot and boasts a 7.54% cap rate with a Net Operating Income (NOI) of $309,000. The asking price is $4,100,000, translating to a price per square foot of $276.65. Built in 2008, this single-tenant property benefits from a corporate-guaranteed Absolute NNN lease with Walgreens, minimizing landlord responsibilities. The lease commenced October 1, 2008, and has a remaining term of approximately 8.9 years, extending to September 30, 2033, with fifty one-year renewal options. The property enjoys 100% occupancy and is situated in a high-growth area, experiencing significant population increases and high traffic volume on State Street, a major thoroughfare serving both residents and tourists visiting nearby Zion National Park. This presents a stable, passive income stream with significant long-term potential. The property requires no management, offering a truly hands-off investment opportunity. All expenses are covered by the tenant. This is a rare chance to acquire a well-positioned, high-performing retail asset in a rapidly expanding market.