475 E State Rd
American Fork, UT 84003
CVS Pharmacy · Retail Property For Sale

Stan Johnson Company (“SJC”), on behalf of Ownership as its exclusive advisor, is pleased to offer for sale the 100% fee simple interest in the single-tenant retail property located at 475 E State Rd (US-89) in American Fork (Salt Lake City), UT (the “Property”). Newly constructed in 2016, the Property comprises a +/- 9,516 SF building on a large +/- 2.05-acre parcel, that is strategically positioned on a hard, signalized intersection along American Fork’s primary arterial and one mile from Interstate 15, which provides direct access to Downtown Salt Lake City and Provo. The Property benefits from its location just minutes from several prominent colleges and universities with a combined enrollment of over 76,000 students, including BYU, Utah Valley University, Mountainland Applied Technology Center, and Provo College. The city has experienced double digit population growth in 8 straight decades, including 111% growth since 1980. American Fork is part of one of the hottest job markets in the country with 5.2% annual growth and a low 2.5% unemployment rate. The Property features a drive-thru and offers many of the chain’s premier amenities, including in-store immunizations and photo services. CVS Corporation (NYSE:CVS | S&P: BBB) fully guarantees the lease and operates under a 25-year base term with more than 23 years remaining and ten, five-year renewal options. A truly passive investment opportunity, there is no Landlord responsibility whatsoever over the life of the Lease. The Property presents a Zero Cash Flow acquisition opportunity, offered with a non-recourse, fixed rate, fully amortizing loan for investors seeking to increase a depreciable basis, while requiring minimal equity. This structure is also ideal for tax-deferred 1031/1033 exchange buyers seeking passive losses that may be used to offset income from other real estate investments. Contact broker for details.