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FL CVS | No Rent Holiday | 26+ Yr Opt History 5 Us-27 10,857 SF Retail Building Lake Placid, FL 33852 $2,619,287 ($241.25/SF) 8% Cap Rate
Investment Highlights
- The lease allows for fixed rent increases every five years in the option periods.
- The closest CVS is located approximately 13 miles away.
- CVS has been operating out of this location for over 26 years and are currently in their 2nd Option with 2 (5-Year) option periods remaining.
- Located along Lake Placid's main corridor, the property is situated on US-27/E Interlake Blvd, with a combined daily traffic count of 27.9K VPD.
- Located 2 miles away, Amazon is building a brand new, 75,000 square foot delivery station, expected to be operating in the Fall of 2025.
Executive Summary
Listed in conjunction with Brian Brockman, Bang Realty - Naples, Inc, 513-898-1551, wg@bangrealty.com, FL DRE Lic. BK3327646.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
10,857 SF
Building Class
B
Year Built
1999
Price
$2,619,287
Price Per SF
$241.25
Cap Rate
8%
NOI
$209,543
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Lot Size
1.46 AC
Opportunity Zone
Yes
Zoning
C1
Parking
60 Spaces (5.53 Spaces per 1,000 SF Leased)
Frontage
154’ on Us-27
Amenities
- Freeway Visibility
- Pylon Sign
- Drive Thru
Nearby Major Retailers
Property Taxes
| Parcel Number | P-31-36-30-A00-0312-0000 | Improvements Assessment | $1,151,528 |
| Land Assessment | $221,000 | Total Assessment | $1,372,528 |
Property Taxes
Parcel Number
P-31-36-30-A00-0312-0000
Land Assessment
$221,000
Improvements Assessment
$1,151,528
Total Assessment
$1,372,528
(619) 297-0055
x305
Contacts
-
Chris Barry -
Jason Pongsrikul -
Pharma Property Group- Drugstore Specialists
1 of 3
Videos
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Photos
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FL CVS | No Rent Holiday | 26+ Yr Opt History | 5 Us-27
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