1235 State StHurricane, UT 84737

Property Details for 1235 State St

Year built

2008

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.48 AC

Property size (Sq ft)

14,739 SF

Property type

Other 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.

• Alternative Use

  Use

  Valuation

  Residential

  $4,520,299

  Hospitality

  $4,140,570

  Educational

  $3,444,905

  Medical

  $3,563,381

  Retail

  $5,358,742

Location Insight

City

Hurricane

County

Washington

State

Utah

Latitude

37.1759

Longitude

-113.311

CBSA code

41100

CBSA name

ST. GEORGE, UT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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