Matthews Real Estate
Listed by Matthews, Matthews Real Estate
$6,800,000
CVS
Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 16,362
Cap Rate 5%
NOI $340,000
Brand/Tenant CVS Pharmacy
Lease Type Absolute NNN
Lease Term 37.3
Lease Expiration 11/30/2040
Remaining Term 14.5
Lease Options Five (5), 5-year options
Price per SqFt $416
Year Built 2001
Year Renovated 2015
Buildings 1
Stories 1
Lease Commencement 09/08/2003
Ground Lease No
Absolute NNN CVS with 20-Year Lease Extension in Booming Jacksonville Market
Investment highlights
- Recent Long Term Extension: CVS recently extended its lease by 20 years, pushing the expiration date to November 2040.
- Absolute NNN Structure: Zero landlord obligations; the tenant is responsible for all capital expenditures, operating expenses, taxes, and insurance, providing a fully passive investment.
- Hedge Against Inflation: Includes 5% rental increases every five years throughout the Five (5), 5-year option periods, providing a consistent hedge against inflation.
- Strategic Hard-Corner Positioning: Ideally situated at a high-visibility, signalized intersection with traffic counts exceeding ±65,500 Vehicles Per Day.
- Superior Demographic Profile: Located in a high-growth residential corridor with average household incomes exceeding $103,000 within a 3-mile radius.
- Thriving Jacksonville Market: Jacksonville, FL has officially become the most populous city in Florida and now ranks as the 10th largest in the United States, ranking as the #2 strongest job market in the nation. The city has transformed into a premier corporate hub, attracting over 150 regional and divisional headquarters.
Listing Contacts
Matthews Real Estate
Listed by Matthews, Matthews Real Estate
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$340,000.00
$28,333.33/mo
Valuation Metrics
0
DSCR
5%
Cap Rate
5%
ROI
Map
Zoning
CCG-1 CommercialGeneral CommercialCommercial Community General 1
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View all 51 uses Last updated Apr 15, 2026 For deeper zoning details, reports are available at Zoneomics
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