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5 Us-27
Lake Placid, FL 33852
CVS · Retail Property For Sale
Investment Highlights
- Recent Long Term Extension: CVS recently extended its lease by 10 years, pushing the expiration date to January 2037.
- Absolute NNN Lease – Zero Landlord Responsibilities: CVS is responsible for all taxes, insurance, and CAM
- Investment-Grade Corporate Guaranty: The lease is guaranteed by CVS Health Corporation (NYSE: CVS), which carries investment-grade ratings of BBB
- Rare, Ultra-Long-Term Option Structure: The lease is backed by ten (10), five-year renewal options
- Built-In Hedge Against Inflation: Rent steps up 5% at the start of every one of the ten renewal options, giving the investor a contractual mechanism
- High-Visibility Highway Location: Positioned with freeway visibility and pylon signage directly on US-27/E Interlake Blvd
Executive Summary
Broker of Record
Kyle Matthews
License # BK3554632, CQ1066435 (FL)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Kyle Matthews
License # BK3554632, CQ1066435 (FL)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
10,857 SF
Building Class
B
Year Built
1999
Price
$3,166,667
Price Per SF
$291.67
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Lot Size
1.46 AC
Opportunity Zone
Yes
Zoning
C1 - Commercial
Parking
60 Spaces (5.53 Spaces per 1,000 SF Leased)
Frontage
154’ on Us-27
Amenities
- Freeway Visibility
- Pylon Sign
- Drive Thru
- Awning
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
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