1200 N State Road 7
Margate, FL 33063
CVS/Clutch Coffee NNN Leases · Retail Property For Sale

Marcus & Millichap is pleased to present for sale two freestanding, single-tenant buildings leased to CVS and Clutch Coffee Bar located in Margate, Florida. Margate is a city in Broward County. It is part of the Miami-Fort Lauderdale-Pompano Beach Metropolitan Statistical Area. The CVS is a fee simple lease, backed by CVS Corporate, has over five years remaining on the base term with ten percent increases every five years through four, five year option periods. This is an ideal passive investment opportunity with zero landlord responsibilities being offered at 6.20 percent capitalization rate. CVS consists of a 17,444 square foot retail space with ample parking on a large 1.71-acre parcel, currently leased by CVS Corporate. Clutch Coffee will occupy a 938 square foot space on a 0.4 acre lot. CVS is strategically located at the signalized, hard corner of Coconut Creek Parkway and US-441 S with a combined traffic count of 83,710 vehicles per day. Clutch Coffee Bar is the adjacent parcel on Coconut Creek Parkway with 29,123 vehicles per day. Within five-miles there are 400,305 residents with an average household income of $70,416. Just under one mile to the west of the property is Coconut Creek Plaza (235,838 square feet) anchored by a Walmart Supercenter, Marshalls, Ross Dress for Less, Harbor Freight Tools and DD's Discounts. National and Regional retailers in the immediate area include Chase, Denny's, Burger King, McDonald's, Applebee's and TD Bank to name a few. The current population of Broward County is nearly two million, making it the second most populous county in Florida. The bedroom community lifestyle offers young adults, families and senior citizens a small town feeling, while location and close proximity to major roadways grants residents easy access to amenities throughout the region. Margate is also experiencing significant capital commitment, as there is a new mixed-use project 3.1 miles north worth $100 million. CVS is one of the nation's largest leading drugstore chains with over 9,600 stores in 50 states, the District of Columbia, Puerto Rico and the US Virgin Islands. CVS sells prescription drugs and a wide assortment of general merchandise, including over-the-counter drugs, beauty products, cosmetics, film and photo finishing services and seasonal merchandise.