CVS Pharmacy | Hard Corner Signalized Intersection 54k Vehicles Per Day

101 S Ridgewood Ave, Daytona Beach, FL 32114, USA
$4,888,916

Description

Marcus & Millichap is pleased to present for sale this freestanding, single-tenant CVS located in Daytona Beach, Florida. This CVS is a fee simple lease with two and one-half years remaining on the base term and include three, five-year option periods. This is an ideal passive investment opportunity with limited landlord responsibilities being offered at 6.20 percent capitalization rate.
CVS consists of a 10,908 square foot retail space with ample parking on a large 1.61-acre parcel. CVS is strategically located at the signalized, hard corner of Ridgewood Avenue and International Speedway Boulevard with a combined traffic count of 54,500 vehicles per day. Within a five-mile radius there are over 120,873 residents with an average household income of $50,816.
The subject property is just across the bridge from the ‘World’s Most Famous Beach’ one mile to the east and to the west is Interstate 95 (155,000 VPD), Daytona Beach International Airport and Daytona International Speedway. Within a few miles of the CVS include Halifax Health, a 678-bed oncology center, Trader Joe’s 640,000 square foot corporate office, a 68,000 square foot Amazon distribution center, Tanger Outlets (350,000 square feet), Latitude Margaritaville (3,400 home 55+ community), and One Daytona (300,000 square foot center with a Marriott hotel). National and Regional retailers in the immediate area include Walgreens, Wawa, Popeyes, Burger King, Family Dollar, Speedway, Best Buy, PetSmart, Checkers, Save-A-Lot, Dunkin’, Starbucks, Wendy’s and Pollo Tropical to name a few.
CVS is one of the nation’s largest leading drugstore chains with over 9,900 stores in 50 states, the District of Columbia, Puerto Rico and the  US Virgin Islands. CVS sells prescription drugs and a wide assortment of general merchandise, including over-the-counter drugs, beauty products, and cosmetics, film and photo finishing services, seasonal merchandise, greeting cards, and convenience foods through their CVS Pharmacy and Longs Drugs Retail stores and online through CVS. com. It also provides healthcare services through its more than 1,100 MinuteClinic medical clinics as well as their Diabetes Care Centers. Most of these clinics are located within CVS stores.

  • Hard Corner Signalized Intersection with 54,000+ Vehicles Per Day
  • CVS is Strategically Positioned on the Corner of WestInternational Speedway Boulevard, Daytona Beach’s Premier Tourism Thoroughfare
  • Approximately Three Miles East of the Daytona International Speedway | Home of the Daytona 500 Hosting on Average 100,000 Fans
  • Under Three Miles from Daytona Beach International Airport | Serves 728,681 Passengers Annually (2019)
  • Dense Retail Corridor | 4.7M Square Feet of Retail Within 1-Mile
  • Coastal Destination | 120,873 Residents within 5-Miles
  • Daytona Beach has Grown 8% in Population Since 2010
  • Three Colleges Within Three Miles of the Subject Property | Combined Enrollment of Over 30,000 Students
  • Drive Thru Pharmacy
  • Florida is a ‘No Income Tax’ State

Property Documents

  • City: Daytona Beach
  • State/county: Florida
  • Zip/Postal Code: 32114
  • Country: United States

Detail

  • Price: $4,888,916
  • Year Built: 1998

Additional details

  • CAP RATE: 6.20%
  • NOI: $303,133

Features