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CVS Pharmacy | Holiday, FL | Absolute NNN Lease

2513 US-19, Holiday, FL 34691, USA
$3,760,000

Description

Marcus & Millichap is pleased to present for sale this 12,603 square foot freestanding CVS in Vero Beach, Florida. This CVS has more than 18 years remaining on the base term of its Absolute NNN Lease. Holiday is a thriving suburb of the Tampa-St. Petersburg-Clearwater Metropolitan Area. Holiday is ideally located in west central Florida just northwest of Tampa Bay and a few miles from the Gulf of Mexico.

Located at the signalized intersection of US Highway 19 and Darlington Road, this CVS has exposure to more than 64,000 Vehicles Per Day. The One Mile Radius of this property has experienced explosive population growth since 2010 with a 26% increase from 2010 to 2018 and a projected additional 13% growth from now until 2023. There are numerous national retailers in theĀ  surrounding area which include Walgreens, ALDI, Publix, 7-Eleven and Planet Fitness.

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.

  • Rare Absolute NNN CVS with More than 18 Years on the Base Term of the Lease
  • CVS Extended the Lease Early in 2017 Showing Strong Commitment to the Site (More than 20 Years of Operation at this location)
  • 24 Hour Location with Strong Sales History
  • Located at a Hard Corner Signalized Intersection with Exposure to More than 64,000 Vehicles Per Day
  • Explosive Population Growth: 26% Growth from 2010 to 2018 and Projected 13% Population Growth in the Next Five Years
  • Holiday is a Suburb of Tampa, one of the Fastest Growing MSAs in the United States
  • Florida is an Income Tax Free State

Property Documents

  • City: Holiday
  • State/county: Florida
  • Zip/Postal Code: 34691
  • Country: United States

Detail

  • Price: $3,760,000

Additional details

  • CAP Rate: 5.00%
  • NOI: $188,000

Features