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CVS 100 N Us Highway 41 Byp N 14,829 SF Retail Building Venice, FL 34285 $7,200,000 ($485.54/SF) 5.49% Cap Rate
Investment Highlights
- Trophy location - Property sits on a hard corner, traffic light regulated intersection with over 70,000 vehicles per day
- Very dense demographics with over 10,000 people in a 1 mile radius
- CVS has successfully operated at this location since 2000
- Convenient ingress/egress access from both E Venice Ave and Tamiami Trl
Executive Summary
CVS Pharmacy, Inc.? is an American retail corporation.? A subsidiary of CVS Health, it is headquartered in Woonsocket, Rhode Island.? Originally named the Consumer Value Stores, it was founded in Lowell, Massachusetts in 1963.?
The chain was owned by its original holding company Melville Corporation from its inception until its current parent company (CVS Health) was spun off into its own company in 1996.? CVS Pharmacy is currently the largest pharmacy chain in the United States by number of locations (over 9,600 as of 2016) and total prescription revenue.? Its parent company ranks as the fifth largest U.?S.? corporation by FY2020 revenues in the Fortune 500.? The parent company of CVS Pharmacy's leading competitor (Walgreens) ranked 19th for the same time period.? 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 or outside CVS stores.?
Venice is a city in Sarasota County, Florida, United States.? The city includes what locals call "Venice Island", a portion of the mainland that is accessed via bridges over the artificially created Intracoastal Waterway.? The city is located in Southwest Florida.? As of the 2020 Census, the city had a population of 25,463, up from 20,748 at the 2010 Census.? Venice is part of the Sarasota metropolitan area.?
Venice, Florida, is primarily known as the "Shark Tooth Capital of the World," with beaches like Caspersen and Venice Beach famous for abundant, fossilized shark teeth.? Often called the "Happiest Seaside Town in America," it is renowned for its historic 1920s downtown, Italian Renaissance-style architecture, charming shopping, and boating canals.?
The chain was owned by its original holding company Melville Corporation from its inception until its current parent company (CVS Health) was spun off into its own company in 1996.? CVS Pharmacy is currently the largest pharmacy chain in the United States by number of locations (over 9,600 as of 2016) and total prescription revenue.? Its parent company ranks as the fifth largest U.?S.? corporation by FY2020 revenues in the Fortune 500.? The parent company of CVS Pharmacy's leading competitor (Walgreens) ranked 19th for the same time period.? 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 or outside CVS stores.?
Venice is a city in Sarasota County, Florida, United States.? The city includes what locals call "Venice Island", a portion of the mainland that is accessed via bridges over the artificially created Intracoastal Waterway.? The city is located in Southwest Florida.? As of the 2020 Census, the city had a population of 25,463, up from 20,748 at the 2010 Census.? Venice is part of the Sarasota metropolitan area.?
Venice, Florida, is primarily known as the "Shark Tooth Capital of the World," with beaches like Caspersen and Venice Beach famous for abundant, fossilized shark teeth.? Often called the "Happiest Seaside Town in America," it is renowned for its historic 1920s downtown, Italian Renaissance-style architecture, charming shopping, and boating canals.?
Property Facts
Sale Type
Investment NNN
Sale Condition
Build to Suit
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,829 SF
Building Class
B
Year Built
2001
Price
$7,200,000
Price Per SF
$485.54
Cap Rate
5.49%
NOI
$395,554
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
1.90 AC
Zoning
CG
Parking
58 Spaces (7.23 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Dedicated Turn Lane
- Freeway Visibility
- Pylon Sign
- Signage
- Drive Thru
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Moderately bikeable
70/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 0410-04-0002 | Improvements Assessment | $2,508,500 |
| Land Assessment | $1,061,000 | Total Assessment | $3,569,500 |
Property Taxes
Parcel Number
0410-04-0002
Land Assessment
$1,061,000
Improvements Assessment
$2,508,500
Total Assessment
$3,569,500
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CVS | 100 N Us Highway 41 Byp N