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CVS w/ Drive-Thru in FL | 15-Yr Corp Abs NNN 49581 Highway 27 13,802 SF Retail Building Davenport, FL 33897 $7,668,000 ($555.57/SF) 5.25% Cap Rate
INVESTMENT HIGHLIGHTS
- 15 Years Remaining | Corporate Guaranteed | Well-Known and Established Tenant | Investment Grade (S&P: BBB)
- Signalized, Hard-Corner Intersection (38,500 VPD) | Excellent Visibility & Access | Drive-Thru Equipped
- Popular Tourist Destination | Walt Disney World Resort
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Across from Publix Anchored Center | Retail Corridor | Strong National/Credit Tenant Presence
- Harper Grove Apartments (264 units) | Direct Consumer Base | Strong Demographics in 5-Mile Trade Area
EXECUTIVE SUMMARY
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, corporate guaranteed, drive-thru equipped CVS Pharmacy investment property located in Davenport, Florida. The tenant, Holiday CVS, LLC, has approximately 15 years remaining on their initial term with 10 (5-year) options to extend, demonstrating their commitment to the site. The lease is corporate guaranteed by CVS Caremark Corporation (S&P: BBB) and is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. CVS is the largest pharmacy chain in the United States with more than 9,900 stores across the United States and Puerto Rico.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
13,802 SF
Building Class
C
Year Built
2010
Price
$7,668,000
Price Per SF
$555.57
Cap Rate
5.25%
NOI
$402,551
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
1.69 AC
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- CVS Pharmacy
- Retailer
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| CVS Pharmacy | Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 26-25-13-000000-041020 | Improvements Assessment | $1,730,496 |
| Land Assessment | $1,218,099 | Total Assessment | $2,948,595 |
PROPERTY TAXES
Parcel Number
26-25-13-000000-041020
Land Assessment
$1,218,099
Improvements Assessment
$1,730,496
Total Assessment
$2,948,595
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CVS w/ Drive-Thru in FL | 15-Yr Corp Abs NNN | 49581 Highway 27
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