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CVS 1037 Main St 12,927 SF Retail Building Chipley, FL 32428 $3,457,007 ($267.43/SF) 7.35% Cap Rate
Investment Highlights
- Hard-corner location at Main St and South Blvd provides exceptional visibility and long-term real estate value along Chipley's commercial corridor.
- Positioning on US Highway 77 with approximately 19,500 vehicles per day (VPD) supports strong exposure and consistent consumer traffic.
- Nationally recognized CVS tenancy offers investors a predictable and proven operating model backed by one of the country's leading pharmacy retailers.
- Location along the Interstate 10 corridor in the growing Florida Panhandle offers investors durable income within an expanding regional market.
Executive Summary
1037 Main Street is a freestanding CVS located at the hard corner (NEC) of Main Street and South Boulevard in Chipley, Florida. CVS opened in 2011 and occupies an attractive, modern freestanding prototype building with a two-lane attached drive-thru facility and ample customer parking.
The property is located directly on US Highway 77 (Main Street), a prominent north/south route with 19,500 vehicles per day (VPD) at the intersection with South Boulevard.
Chipley is a neighborhood community in fast-growing Washington County in the Florida Panhandle, along the Interstate 10 corridor between Tallahassee and Pensacola.
The property is located directly on US Highway 77 (Main Street), a prominent north/south route with 19,500 vehicles per day (VPD) at the intersection with South Boulevard.
Chipley is a neighborhood community in fast-growing Washington County in the Florida Panhandle, along the Interstate 10 corridor between Tallahassee and Pensacola.
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- Offering Memorandum
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
12,927 SF
Building Class
C
Year Built
2010
Price
$3,457,007
Price Per SF
$267.43
Cap Rate
7.35%
NOI
$254,090
Tenancy
Single
Building Height
1 Story
Building FAR
0.81
Lot Size
0.37 AC
Opportunity Zone
Yes
Zoning
Store Building - Store Building
Frontage
342’ on Main St
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 00000000-00-1856-0000 | Improvements Assessment | $713,376 |
| Land Assessment | $148,983 | Total Assessment | $862,359 |
Property Taxes
Parcel Number
00000000-00-1856-0000
Land Assessment
$148,983
Improvements Assessment
$713,376
Total Assessment
$862,359
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