CVS Leasehold (Zero Cash Flow or Cash Flow options)
Sea World Adjacent Corperate Backed CVS | ZCF | 13,483 SqFt
Marketing description
CVS Pharmacy – Store #5400 at 6790 Central Florida Pkwy, Orlando, FL 32821 presents a compelling 39 year leasehold investment opportunity in the heart of Orlando’s high-traffic SeaWorld / International Drive corridor. Third-party location analytics rank the store in the 93rd percentile of all CVS locations nationwide and #2 of 35 CVS stores within a 15-mile radius, underscoring the location's strength and the tenant's long-term commitment to the site. Positioned at the signalized intersection of Central Florida Parkway and Westwood Boulevard, this 24-hour CVS benefits from exceptional visibility, steady consumer demand, and proximity to one of the region’s most visited tourism and employment hubs.
Adjacent to SeaWorld and surrounded by hotels, resorts, and dense visitor activity, the property offers a unique structure with immediate tax-advantaged potential and future upside. CVS has operated at this location since 2010, demonstrating long-term commitment at a strategic infill site. The absolute NNN lease format minimizes landlord responsibilities, while the offering features a debt assumption structure with a significant rent credit applied at closing.
Structured as a Zero Cash Flow debt assumption deal, the buyer assumes the existing ~$1,537,080 CMBS loan — CVS rent covers debt service with no new financing required. Alternatively, the seller can defease at closing for a $259,305 penalty, delivering cash flow. Potentially depreciable over the remaining term. Five renewal options extend through 2060 at ~$304K/year.
The property is a 13,013 SF freestanding CVS on 1.746 acres immediately adjacent to SeaWorld Orlando in the I-Drive tourism corridor. Open 24 hours with a dedicated drive-through pharmacy since 2010.
This opportunity combines strong location fundamentals, corporate-backed tenancy, and a rare pathway to future free-and-clear income potential if renewal options are exercised—making it an attractive play for investors seeking long-term value in one of Orlando’s most dynamic corridors.
Investment highlights
Cash Flow takeover financing or all cash option available.
ZCF takeover: Debt: ~1.5M Equity : $2,859,000
INVESTMENT HIGHLIGHTS
- Top-Performing Store in the Market — Ranks #2 of 35 CVS locations within 15 miles and in the 93rd percentile chain-wide (356 of 5,733 nationally), a strong indicator of tenant retention and long-term operational commitment.
- Investment-Grade Credit — Lease guaranteed by CVS Caremark, a Fortune 10 company and one of the nation's premier net-lease tenants.
- Irreplaceable Tourism-Corridor Location — Directly adjacent to SeaWorld Orlando (0.6 mi) and within minutes of Walt Disney World (±6 mi), Disney Springs (±4 mi), and Orlando International Airport (±10 mi), with direct I-4 access.
- Measured, Not Marketed, Demand — Location analytics confirm the tourism engine feeding the store: Walt Disney World appears in 65.5% of visitor patterns, Orlando International Airport in 61.7%, and SeaWorld in 39.1%.
- High-Velocity Necessity Retailer — ±634,000 unique annual visitors and ±976,000 transactions, operating as a 7-day, extended-hours convenience anchor within the resort district.
- Strong Front-Store Productivity — Estimated retail sales of ±$1,500/SF¹, reflecting healthy front-of-store performance independent of the pharmacy business that anchors the location.
- Passive, Fee-Simple-Style Income — [Net lease / ground-leasehold] structure with [minimal/no] landlord responsibilities, ideal for a 1031 exchange or passive investor.
- ¹ Per third-party analytics (Placer.ai). Pharmacy sales estimates reflect front-store retail only and exclude prescription sales and third-party reimbursement; total store volume is materially higher.
Lease Structure
- 25-year base lease term · Lease commencement December 22, 2009 · Expires October 30, 2035
- Two fixed-rate renewal options totaling 8 years at $25,339.47/month
- Four 5-year Fair Market Value renewal options beyond that
- Absolute NNN — zero landlord responsibilities of any kind
- CVS pays ground rent directly to ground lessor — does not pass through the leaseholder
- No deductions · No landlord costs · No management required
Pricing & Credit
- Post-2035 stabilized yield on effective price.
Financing (Zero Cash Flow Options)
- Non-recourse, zero cash flow structured financing — readily assumable at closing
- No new financing required · Buyer steps directly into existing loan
- Loan fully amortizes January 31, 2032
- Ideal for 1031/1033 exchange buyers or passive loss strategies
Location
- SeaWorld / International Drive tourism corridor — visible from SeaWorld roller coasters
- Hampton Inn & Suites and Homewood Suites directly adjacent
- Orange County Convention Center nearby · 75M+ annual visitors
- 13,013 SF freestanding building · 1.746 acres · 71 parking spaces · Drive-through pharmacy
- Open 24 hours / 7 days
Tax & Exchange
- Ideal 1031/1033 exchange replacement property
- Non-exchange buyers may generate passive losses to offset other real estate income
- Depreciation on leasehold improvements available · Assumed debt interest fully deductible
Important Notice
- This is a leasehold interest — the land (1.746 ac) is owned by Gainesville Holdings LLC and is not part of this sale
- Executed lease includes a contractual rent holiday (Feb 2032–Jan 2035) during which CVS pays $0 — buyers must model complete cash flows prior to offer
~$304K/Year Post-2035 If CVS Renews — Five five-year renewal options through 2060. Loan fully amortizes January 2032 — renewal income collected free and clear with zero debt service.
- Absolute NNN — Zero Landlord Obligations — CVS handles all taxes, insurance, and maintenance. Fully passive.
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