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33287741
33287743

121 W Macclenny Ave, Macclenny, FL 32063

AC
TX 656845, CA 0216373
Landes Group
Listed by Landes Group
$3,220,262
1708 days on market
Updated 0 days ago

CVS Pharmacy | Macclenny, FL

Details
Property Type Retail
Sub Type Convenience Store, Pharmacy/Drug
Square Footage 14,553
Cap Rate 7.25%
NOI $233,469
Occupancy 100%
Tenancy Single
Brand/Tenant CVS Pharmacy
Lease Type NNN
Lease Term 25.4
Lease Expiration 01/31/2031
Remaining Term 4.6
Rent Bumps No
Lease Options 2, 5-Year Options at $210,122/year; 8, 5-Year Options at FMV
Price per SqFt $221
Broker Co-Op Yes
Year Built 2004
Buildings 1
Stories 1
Acreage 1.820
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 09/19/2005
Ground Lease No
Ownership Fee-Simple

Macclenny, FL | HealthHUB | MinuteClinic

Marketing description

The Landes Group is pleased to present the exclusive opportunity to acquire a CVS Pharmacy in Macclenny, Florida. Strategically positioned within the growing Baker County market, the property is located approximately 30 miles west of downtown Jacksonville and sits at the heart of the region’s primary commercial activity. Situated at the signalized intersection of West Macclenny Avenue (US-90) and South 6th Street (SR-121), the site benefits from exceptional visibility and prominent local traffic. This location has a proven track record, with CVS successfully operating at this site since 2005. The property features an upgraded MinuteClinic concept, cementing its status as a vital community staple. The current lease term runs through 2031. This investment features an Absolute NNN lease structure in an income tax-free state, where the tenant is responsible for all maintenance, taxes, insurance, and repairs. This offering provides an investor with a truly passive, "hands-off" asset with zero landlord responsibilities, backed by a premier national credit tenant.

Investment highlights

  • Established Tenant: 20+ Year Operating History
  • Zero Landlord Responsibilities
  • Rent Holiday last 3 years of Lease
  • Income Tax Free State
  • HealthHUB
  • MinuteClinic
  • Corporate Guaranteed Lease (S&P Rating: BBB)
  • Located in Jacksonville MSA
  • Hard Corner, Signalized Intersection
  • Positioned within a high-traffic retail trade area proximate to major national brands including Target, Walmart, Home Depot, Tractor Supply, and quick-service restaurants

Listing Contacts

AC
TX 656845, CA 0216373
Landes Group
Listed by Landes Group

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$233,469.00
$19,455.75/mo

Valuation Metrics

0
DSCR
7.25%
Cap Rate
7.25%
ROI

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Additional Information

Name
James C. Jacob
License
FL BK3008106
Brokerage
JRES
Title
Broker of Record
Brokerage Address
607 West Bay Street Tampa, Florida 33606
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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