CVS w/ Drive-Thru in FL | 15-Yr Corp Abs NNN
8,000 SF | Retail Building | Davenport, FL 33897 | $7,668,000 ($959/SF) | 5.25% Cap Rate
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 2 days
Asking Price $7,668,000
- Property Type
-
Retail
- Square Feet
- 8,000 SF
- Price / Square Foot
- $959
Listing Contacts
John Redfield
Verified Profile
Matthew Mousavi
Verified Profile
Patrick Luther
Verified Profile
- Property Info
Property Overview
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, corporate guaranteed, drive-thru equipped CVS Pharmacy investment property located in Davenport, Florida. The tenant, Holiday CVS, LLC, has approximately 15 years remaining on their initial term with 10 (5-year) options to extend, demonstrating their commitment to the site. The lease is corporate guaranteed by CVS Caremark Corporation (S&P: BBB) and is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. CVS is the largest pharmacy chain in the United States with more than 9,900 stores across the United States and Puerto Rico.
Property Details
- Class
- C
- Year Built
- 2010
- Stories
- 1
- Property Subtype
- Freestanding, Grocery/Convenience Store, Drug Store, Storefront
- Lot Size (sq. ft)
- 73,616 SF
Highlights
- 15 Years Remaining | Corporate Guaranteed | Well-Known and Established Tenant | Investment Grade (S&P: BBB)
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Signalized, Hard-Corner Intersection (38,500 VPD) | Excellent Visibility & Access | Drive-Thru Equipped
- Across from Publix Anchored Center | Retail Corridor | Strong National/Credit Tenant Presence
- Popular Tourist Destination | Walt Disney World Resort
- Harper Grove Apartments (264 units) | Direct Consumer Base | Strong Demographics in 5-Mile Trade Area
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