Van Hull Commercial, LLC
Listed by Van Hull Commercial, LLC
$4,732,000
STNL CVS in Tampa Area with Assumable Financing
Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 10,980
Cap Rate 5.60%
NOI $265,000
Occupancy 100%
Tenancy Single
Brand/Tenant CVS Pharmacy
Lease Type NNN
Lease Term 13
Year Built 2002
Acreage 4.010
Lease Commencement 02/28/2014
Ownership Fee Simple
Retail | 5.60% CAP | 10,980 SqFt
Marketing description
The Lease offers a 25-year term that commenced March 1, 2014. The Tenant on the Lease is CVS Pharmacy, Inc with, a full corporate guaranty from CVS Health Corporation. The Property includes a 10,980 SF building on an approximately four acre lot. The Lease is NNN where the Tenant maintains everything, including insurance and paying taxes directlty. This is quality real estate with an investment-grade tenant that can be passed down for generations.
Major retailers Winn Dixie, Hardee’s, Mobil, Quality Inn, Dollar General and Motel 6 are also located at this intersection.
The property is on the north side of the Tampa metro area and is less than two hours east of Orlando.
CVS shares the intersection with anchor and top local attraction Weeki Wachee Springs State Park. This 927-acre state park is a major tourist attraction featuring mermaid shows and ecotourism like kayaking, which supports local commercial uses. Weeki Wachee Springs State Park draws nearly 353,000 each year and generates an estimated $3.6 billion in direct economic impact for local economies annually, according to the Florida State Parks Foundation.
Major retailers Winn Dixie, Hardee’s, Mobil, Quality Inn, Dollar General and Motel 6 are also located at this intersection.
The property is on the north side of the Tampa metro area and is less than two hours east of Orlando.
Investment highlights
- Price: $4,732,000
- Cap Rate: 5.60%
- 25-Year Primary Term
- Long-Term Legacy Real Estate
- State Park generates ~$3.6 billion for local economies
- Investment- Grade Credit
- NNN Lease
- Upward trend in State Park visitors since 2024
Listing Contacts
Van Hull Commercial, LLC
Listed by Van Hull Commercial, LLC
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$265,000.00
$22,083.33/mo
Valuation Metrics
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DSCR
5.6%
Cap Rate
5.6%
ROI
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