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Investment Highlights

  • Strong Corporate Lease Guarantee | CVS Health Corp: Investment Grade Credit Tenant (S&P: BBB) – Only Investment Grade Pharmacy in the US
  • Attractive Absolute NNN Lease | Zero Landlord Responsibilities
  • Located Along the Main Corridor into Downtown Monticello | Directly Across From Winn-Dixie Grocery Anchored Center, Tractor Supply, O'Reilly Auto
  • Revenues of $357.8 Billion | Ranked #6 on Fortune 500
  • Zero Pharmacy Competition | No Other CVS or Walgreens within 21 Mile Radius
  • Located 30 Miles from Downtown Tallahassee & Tallahassee International Airport

Executive Summary

Lee & Associates, together with Bang Realty are pleased to present an exceptional investment opportunity featuring a CVS Pharmacy located in the heart of Monticello, FL. This high-performing property is backed by CVS Health, a Fortune 500 company and one of the largest and most respected pharmacy chains in the United States, offering stability and reliability for long-term returns. The property is secured by an absolute triple-net (NNN) lease, ensuring the tenant is responsible for all expenses, including property taxes, insurance, and maintenance, providing a true hands-off investment with predictable and stable income. Ideally positioned on a high-traffic corridor, the property benefits from excellent visibility and accessibility in a growing market. Monticello serves as a key hub in Jefferson County, supported by strong local demographics and a mix of residential and commercial development, driving consistent customer traffic to the property. With a strong national tenant, a secure lease structure, and a prime location, this CVS investment represents a rare and attractive opportunity for investors seeking long-term, passive income.

Property Facts

Sale Type
Investment NNN
Sale Conditions
1031 Exchange
Property Type
Retail
Property Subtype
Drug Store
Building Size
13,800 SF
Building Class
B
Year Built
2007
Price
$4,222,400
Price Per SF
$305.97
Cap Rate
7%
NOI
$295,568
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
3.81 AC
Opportunity Zone
Yes
Parking
40 Spaces (4.72 Spaces per 1,000 SF Leased)
Frontage
255’ on S Jefferson St

Amenities

  • Signage
  • Drive Thru
  • Monument Signage

Major Tenants

  • Tenant
  • Industry
  • SF Occupied
  • Rent/SF
  • Lease Type
  • Lease End
  • Retailer
  • -
  • -
  • Triple Net
  • -

CVS Pharmacy began in 1963 as Consumer Value Stores in Lowell, Massachusetts, selling health products. The company expanded into pharmacy services in 1967 and was later acquired by Melville Corporation. Through strategic acquisitions like MinuteClinic and Caremark, CVS grew its healthcare services. The 2018 merger with Aetna made CVS Health a major player in insurance. Today, the company operates pharmacies nationwide, manages pharmacy benefits, and provides health insurance through various subsidiaries.

Tenant Industry SF Occupied Rent/SF Lease Type Lease End
Retailer - - Triple Net -

Nearby Major Retailers

Piggly Wiggly
Capital City Bank
Renasant Bank

Property Taxes

Property Taxes

Parcel Numbers
Multiple
  • 31-2N-5E-0000-0132-0000
  • 31-2N-5E-0000-0133-0000
Land Assessment
$157,608
Improvements Assessment
$1,196,368
Total Assessment
$1,353,976
  • Listing ID: 35204865

  • Date on Market: 3/20/2025

  • Last Updated:

  • Address: 1390 S Jefferson St, Monticello, FL 32344

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