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Views: 55 Updated: 03.21.24 Posted: 12.22.23 Status: Inactive 03.21.24

Summary

Price $3,850,000
Built/Renov 2000
Tenant CVS
Cap Rate 7.37%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,908
Lease Start 01-12-2001
#Units 9,900
Price/SF $352.95
Expiration 01-11-2029
Tenant Type Pharmacy
NOI $283,681
R. Term 4.7
Ownership Fee Simple
Rent/SF $26.01
Increases 2.0%/5/yrs
Pop 5Mi 31,055
Lot/AC 1.56
Options 4/5yrs/2%
AHHI 5Mi $39,873

Lease Highlights

  • CVS has been operating in this location since 2001
  • Tenant has 5 years remaining on the current lease term with 4 (5-year) options to extend
  • Lease features 2% rental increase at the start of each option
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

CVS is strategically located at the signalized, hard corner intersection of East Magnolia Street and Brevard Ave, offering multiple points of ingress & egress. The property also benefits from its location directly at the interchange of Florida State Road 70 & US Route 17, which connects Bradenton to Fort Pierce and Punta Gorda to Jacksonville. The surrounding area features national credit...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: CVS
  • Guarantor:Corp T and Rated
  • Company:CVS Corporation
  • # Units:9,900
  • Tenant S&P: BBB
  • Moody’s: Baa1
  • Stock: NYSE: CVS

About Tenant

CVS Pharmacy, Inc. is an American retail corporation and is the largest pharmacy chain in the United States by number of locations and total prescription revenue. CVS sells prescription drugs and...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 8,392 17,787 22,016
2023 Total Population : 8,131 17,375 21,615
2023 Employed Civilian Pop : 3,393 6,787 8,218
2023 Total Businesses : 443 683 770
2023 Average Household Income : $ 46,596 $ 52,452 $ 53,796
2023 Total Consumer Spending : $ 113 M $ 289 M $ 373 M
2023 Median Age : 32 35 36
2023 Total Households : 2,777 6,267 7,864
2023 Pop Age 25+: Bachelor's Degree : 455 1,000 1,266
2023 Average Home Value : $ 198,113 $ 187,503 $ 195,865
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
East Magnolia Street Magnolia St 2021 9,700 0.03 mi
South Brevard Avenue Oak St 2021 8,000 0.05 mi
Oak Street Oak St 2022 9,700 0.07 mi
Magnolia St W Magnolia St 2005 8,500 0.07 mi
E Magnolia St Brevard Ave 2005 10,500 0.07 mi
East Hickory Street N Desoto Ave 2021 8,900 0.13 mi
East Hickory Street N Pasco Ave 2022 9,400 0.13 mi
Magnolia Street Monroe Ave 2022 9,100 0.17 mi
Hickory Street N Desoto Ave 2022 9,600 0.18 mi
South DeSoto Avenue E Pine St 2022 8,300 0.18 mi

Listing Broker

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