Listed by Pharma Property Group
$2,619,287
Florida CVS | No Rent Holiday | 26+ Yr Operating History
Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 10,857
Cap Rate 8%
NOI $209,543
Tenancy Single
Brand/Tenant CVS Pharmacy
Lease Type NN
Lease Expiration 06/08/2029
Remaining Term 3
Rent Bumps Yes
Lease Options 2 (5-Year)
Price per SqFt $241
Broker Co-Op Yes
Year Built 1999
Acreage 1.460
Investment Type Net Lease
Retail | 8.00% CAP | 10,857 SqFt
Marketing description
Listed in conjunction with Brian Brockman, Bang Realty - Naples, Inc, 513-898-1551, wg@bangrealty.com, FL DRE Lic. BK3327646.
Investment highlights
The lease allows for fixed rent increases every five years in the option periods.
Located along Lake Placid's main commercial corridor, the property is situated at the corner of US Route 27 and East Interlake Boulevard, with a combined average daily traffic count of 27,900 VPD.
The closest CVS is located approximately 13 miles away.
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.
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.
Listing Contacts
Listed by Pharma Property Group
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$209,543.00
$17,461.92/mo
Valuation Metrics
0
DSCR
8%
Cap Rate
8%
ROI
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
