991 N Hill Field Rd - Retail FOR SALE


Layton, UT 84041
$3,645,000 USD
480-221-4221
991 N Hill Field Rd, Layton, UT for Sale
$3,645,000 USD
Retail - FOR SALE
1/9
null | 5.35% Cap Rate

991 N Hill Field Rd
Layton, UT 84041


HIGHLIGHTS

  • Brand New 15-Year Lease | Options To Extend | Scheduled Increases 2025 Construction
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Strong Demographics In 5-Mile Trade Area | Affluent Community |Salt Lake City MSA | Direct Consumer Base
  • Layton Hills Mall (3.8M+ Annual Visits) | Interstate 15 (134,400 VPD) Dense Retail Corridor | National/Credit Tenants
  • Hill Air Force Base | Falcon Aerospace Research Park

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, freestanding First Watch investment property located in Layton, Utah (Salt Lake City MSA). The tenant, Rise and Smile LLC, recently signed a brand new, 15-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. First Watch (NASDAQ: FWRG) is a rapidly expanding restaurant chain with over 630 locations across 32 states. The subject property will feature new 2025 construction with state-of-the-art materials and the brand’s latest modern store design.

FOR SALE DETAILS

PRICE

$3,645,000 USD

PRICE/SF

$618 USD /SF

CAP RATE

5.35%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

First Watch

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Freestanding, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1981

SPRINKLERS

-

PARKING SPACES

107

LAND DETAILS

LAND ACRES

1.82 AC

LAND SF

79,279 SF

ZONING

CP-3

APN/PARCEL ID

10-317-0001

ASK ABOUT THIS PROPERTY

Patrick LutherSRS National Net LeaseMore Info
480-221-4221

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Patrick LutherSRS National Net LeaseMore Info
480-221-4221

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.