• An Award Winning Net Lease & Retail Commercial Real Estate Group

CVS Pharmacy | Vero Beach, FL | NNN 18+ Year Lease

5825 20th St, Vero Beach, FL 32966, USA
$5,210,800

Description

Marcus & Millichap is pleased to present for sale this 11,200 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. Vero Beach is a popular tourist destination with 7 miles of beautiful Atlantic-facing beaches and only 70 miles north of Palm Beach and 100 miles from Orlando.

Located on a corner of the signalized intersection of 20th Street and King’s Highway, this location boasts traffic counts in excess of 50,000 Vehicles Per Day. This prime property is situated on a large 1.43 acre outparcel to a Home Depot and across the street from a Target, Publix, Sam’s Club and Walmart on the opposite corners. National retailers in the immediate area include Marshalls, Home Goods, Books-A-Million, Walgreens, PNC Bank, Starbucks, Subway, Bank of America, Chipotle, Vitamin Shoppe, Rooms To Go, Olive Garden, Big Lots, Petsmart, Verizon, Carrabba’s Italian Grill, Domino’s and McDonald’s among many others.

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 theirDiabetes 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)
  • Strong 11% Population Growth Projected in the Next Five Years in the Market Area
  • Located at a Hard Corner Signalized Intersection as an Outparcel to a Home Depot with Traffic Counts Exceeds 50,000 Vehicles Per Day
  • Target, Publix, Sam’s Club and Walmart occupy the opposite Corners of the intersection with a combined total of 1.5 Million Square Feet of Retail
  • There is a Total of 2.7 Million Square Feet of Retail in a Three Mile Radius

Property Documents

  • City: Vero Beach
  • State/county: Florida
  • Zip/Postal Code: 32966
  • Country: United States

Detail

  • Price: $5,210,800

Additional details

  • CAP Rate: 5.00%
  • NOI: $260,540

Features