301 NE Prima Vista Blvd
Port Saint Lucie, FL 34983
Retail Property For Sale

Lumer Real Estate is proud to present a free standing CVS Pharmacy located at 301 NE Prima Vista Blvd in Port Saint Lucie, FL. This 20 year double net lease was recently extended and has minimal landlord responsibilities that including repairs and replacement of the roof and structure. The lease has rental rate increases at each of the two five year option periods. CVS Corporation is the lease guarantor and is considered an investment grade tenant with a S&P Credit Rating of "BBB". The subject property is located in a dense residential area at the intersection of E Prima Vista Blvd and NE Floresta Dr. The average daily traffic count at this intersection exceeds 46,500 cars. The average household income within 5 miles of the property is over $60,000 and the median home value is $155,000. The surrounding area has a dense population that exceeds 146,000 residents and has a projected growth rate of 9.70% by 2023. Surrounding retail tenants include Advanced Auto Parts, AutoZone, and Wawa. CVC Pharmacy is currently the second largest retail pharmacy in the US, behind Walgreens. CVS continues to deliver new net lease properties to the markert. CVS has annual retail sales per square foot totaling more than $840, compared to the sector averange of $680 for its publicly traded peers. CVS also now boasts a higher credit rating than Walgreens) and is considered investment grade with a stable outlook, of corporate guaranteed net lease properties. CVS Health Corporation is a publicly traded company on the New York Stock store in Lowell, Massachusetts. CVS Health Corporation includes CVS Pharmacy which approximately has 9,800+ retail pharmacies, CVS MinuteClinic with more than 1,100 walk-in health care clinics, CVS Caremark, a leading pharmacy benefits manager with more than 90 million plan members, and CVS Specialty, a dedicated senior pharmacy care business serving more than one million patients per year, and expanding specialty pharmacy services.