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First Watch Restaurant 991 N 400 Way 5,897 SF Retail Building Layton, UT 84041 $3,786,408 ($642.09/SF) 5.15% Cap Rate



INVESTMENT HIGHLIGHTS
- Passive Lease Structure |Zero Landlord Responsibilities-features an absolute NNN lease structure prospective buyer with a truly management-free invest
- Up & Coming Dine-In Concept | 2,000+ Locations by 2030 - It has increased its year-over-year revenue by nearly 14% in 2024 surpassing the $1B figure.
- Extremely Dense, Affluent Community | Stable Demographics -Layton’s strength lies in the stability of its population base.
- Long-Term Lease | Contractual Rental Increases - First Watch recently executed a brand new 15-year lease with attractive 10% increases every 5 years.
- Prime Retail Positioning | Out-Parcel to Layton Hills Mall - Anchored by Dillard’s, Dick’s Sporting Goods, Cinemark, JCPenney,Seaquest Aquarium.
- 200,000 people within 5 mile radius of subject site with annual household incomes of $125,000. Layton was recently ranked 1 of Safest Suburbs.
EXECUTIVE SUMMARY
Introducing "Veterans Memorial Hwy-134 Retail Plaza" at 991 Hill Field Rd, Layton, UT, a lucrative investment opportunity! Featuring a newly constructed 5,897 SF building on a prime 1.82 AC lot, this property boasts a long-term 15-year Absolute NNN lease with First Watch, a rapidly growing dine-in concept with over 2,000 projected locations by 2030. With a solid lease structure offering zero landlord responsibilities and contractual rent increases every 5 years, this investment provides a hassle-free, passive income stream. Situated as an out-parcel to Layton Hills Mall, which sees 3.9M annual visitors, the property benefits from a bustling retail environment with major anchor tenants and planned $5M+ renovations. Located just 20 minutes from Downtown Salt Lake City, an epicenter of growth in the Sunbelt region, this property offers a strategic investment opportunity in a high-traffic area. Don't miss out on owning a piece of this thriving market and capitalize on the potential of "Veterans Memorial Hwy-134 Retail Plaza"!
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
5,897 SF
Building Class
C
Year Built/Renovated
1981/2025
Price
$3,786,408
Price Per SF
$642.09
Cap Rate
5.15%
NOI
$195,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
1.82 AC
Zoning
CP-3 - Commercial
Frontage
212’ on Hill Field Road
AMENITIES
- Restaurant
- Signage
Walk Score®
Very Walkable (75)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 10-317-0001 | Improvements Assessment | $10,000 |
| Land Assessment | $1,236,668 | Total Assessment | $1,246,668 |
PROPERTY TAXES
Parcel Number
10-317-0001
Land Assessment
$1,236,668
Improvements Assessment
$10,000
Total Assessment
$1,246,668
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First Watch Restaurant | 991 N 400 Way
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