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CVS Pharmacy 8361 Century Blvd 9,212 SF Retail Building Century, FL 32535 $1,987,000 ($215.70/SF) 3.80% Cap Rate
Investment Highlights
- Nearly 40-year tenancy with a 10-year lease extension, expiring May 31, 2036
- $7.17M+ in store sales generating $70,061 in percentage rent annually
- NN+ lease structure with landlord responsibilities limited to roof and structure
- Below-replacement-cost base rent of $72,504/yr ($8.53/SF) with significant downside protection
- Corporately guaranteed by Holiday CVS, L.L.C., backed by CVS Health Corporation
- Located in Florida, an income tax-free state and highly sought-after investment market
Executive Summary
Broker Of Record
Kyle Matthews
Matthews Real Estate Investment Services, Inc
BK3554632, CQ1066435 (FL)
1600 West End Ave, Ste. 1500 Nashville, TN 37203 (866) 889-0550
Kyle Matthews
Matthews Real Estate Investment Services, Inc
BK3554632, CQ1066435 (FL)
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
9,212 SF
Building Class
C
Year Built
1986
Price
$1,987,000
Price Per SF
$215.70
Cap Rate
3.80%
NOI
$75,504
Tenancy
Single
Building Height
1 Story
Building FAR
0.15
Lot Size
1.45 AC
Opportunity Zone
Yes
Zoning
INCORP
Parking
30 Spaces (3.26 Spaces per 1,000 SF Leased)
Frontage
202’ on Century Blvd
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- -
CVS Pharmacy began as Consumer Value Stores in Lowell, Massachusetts in 1963 and introduced pharmacies inside stores a few years later in Cranston, Rhode Island. The business operates as part of CVS Health, a broader health care company that combines retail pharmacy with pharmacy services, mail order, specialty pharmacy, prescription delivery, vaccinations, and clinical support. CVS Pharmacy serves consumers through a wide network of neighborhood pharmacies and offers services tied to medication access, counseling, and wellness needs. Over time, the company expanded from a single store format into a major U.S. pharmacy presence with a national footprint in health care delivery.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - |
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 05-5N-30-1211-000-000 | Improvements Assessment | $451,538 |
| Land Assessment | $49,391 | Total Assessment | $500,929 |
Property Taxes
Parcel Number
05-5N-30-1211-000-000
Land Assessment
$49,391
Improvements Assessment
$451,538
Total Assessment
$500,929
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