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CVS 1390 S Jefferson St 13,800 SF Retail Building Monticello, FL 32344 $4,048,876 ($293.40/SF) 7.30% Cap Rate
Investment Highlights
- Positioned within the Tallahassee MSA
- Income tax free state – Florida
- Limited competition in the area, the nearest national pharmacy location is located 22 miles west in Tallahassee
- Large 3.81-acre parcel
- Absolute NNN – No landlord responsibilities
- 8.35% population growth expected within one mile from 2025-2030, per CoStar
Executive Summary
The Boulder Group is pleased to exclusively market for sale a single tenant CVS property located in Monticello, Florida within the Tallahassee MSA. Built in 2007, the property has been successfully occupied by CVS continuously since construction. CVS is operating on a lease that runs through January 2033. The lease is absolute triple net and presents no landlord responsibilities. There are ten 5-year renewal options with various rental escalations. Additionally, the property bene?ts from its location in Florida, an income tax free state.
The 13,800 square-foot building is located along US Highway 19, which carries 11,300 vehicles per day. The site bene?ts from limited competition in the area, with the nearest Walgreens located 25 miles west in Tallahassee. According to CoStar, the population within one mile is projected to grow by 8.35% from 2025 to 2030. Nearby retailers include Tractor Supply Company, Burger King, Dollar Tree, Pizza Hut, and Dollar General Market. Additionally, the average household income exceeds $80,000 within a ten-mile radius.
CVS Health Corporation, headquartered in Woonsocket, Rhode Island, stands as the world’s second-largest healthcare company (behind UnitedHealth Group). The organization operates more than 9,000 retail pharmacy locations nationwide, over 1,000 MinuteClinic walk-in medical clinics, the CVS Caremark pharmacy bene?ts manager, Aetna health insurance plans, and comprehensive specialty pharmacy services. With approximately 300,000 colleagues, CVS Health serves more than 100 million people annually, delivering an integrated approach that simpli?es healthcare access, enhances affordability, and promotes overall well-being for patients and communities across the United States.
The 13,800 square-foot building is located along US Highway 19, which carries 11,300 vehicles per day. The site bene?ts from limited competition in the area, with the nearest Walgreens located 25 miles west in Tallahassee. According to CoStar, the population within one mile is projected to grow by 8.35% from 2025 to 2030. Nearby retailers include Tractor Supply Company, Burger King, Dollar Tree, Pizza Hut, and Dollar General Market. Additionally, the average household income exceeds $80,000 within a ten-mile radius.
CVS Health Corporation, headquartered in Woonsocket, Rhode Island, stands as the world’s second-largest healthcare company (behind UnitedHealth Group). The organization operates more than 9,000 retail pharmacy locations nationwide, over 1,000 MinuteClinic walk-in medical clinics, the CVS Caremark pharmacy bene?ts manager, Aetna health insurance plans, and comprehensive specialty pharmacy services. With approximately 300,000 colleagues, CVS Health serves more than 100 million people annually, delivering an integrated approach that simpli?es healthcare access, enhances affordability, and promotes overall well-being for patients and communities across the United States.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
13,800 SF
Building Class
B
Year Built
2007
Price
$4,048,876
Price Per SF
$293.40
Cap Rate
7.30%
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 End
-
- Retailer
- -
- -
- Jan 2033
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 End | ||
|
|
Retailer | - | - | Jan 2033 |
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,196,368 | |
| Land Assessment | $157,608 | Total Assessment | $1,353,976 |
Property Taxes
Parcel Numbers
Land Assessment
$157,608
Improvements Assessment
$1,196,368
Total Assessment
$1,353,976
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