Drug Store
CVS
9940 Yamato Rd, Boca Raton, FL 33434
Listing Price: $7,222,222
Investment Overview
Marcus & Millichap, as exclusive advisor, is pleased to offer for sale CVS (the “Property”), a Class-A, single-tenant retail property in Boca Raton, Florida, occupied by a 24-hour CVS pharmacy. CVS has been the tenant at this location since the building was first constructed in 2009, and they have nearly 13 years of their initial lease term remaining. They also have 25 years of renewal options, with 10-percent increases every five years. The Property is well located in southwestern Palm Beach County and is surrounded by affluent residential communities with 60,000 residents living within a 3-mile radius, with an average household income of over $117,000. The population has grown by seven percent since 2010 and is expected to further expand another five percent within the next 5 years. CVS offers nearly 700 feet of frontage along the southeast, signalized, hard-corner of Yamato Road and US Highway 441 (SR-7), two main thoroughfares in Boca Raton, and benefits from a combined daily traffic count of 65,000 vehicles per day. CVS is located a short distance from the Boca Town Center Mall, Florida Atlantic University, and Mizner Park; and is about 15 miles from Downtown Delray Beach and within 30 to 40 minutes from Downtown West Palm Beach, the Palm Beach International Airport, Downtown Ft. Lauderdale and the Ft. Lauderdale International Airport. The Property presents the opportunity to purchase a high-quality asset with excellent demographics and extremely high barriers-to-entry on one of Boca Raton’s most coveted signalized intersections. With zero Landlord maintenance responsibilities, investment-grade tenancy and extensive remaining lease term; this trophy asset provides secure, effortless, corporate-guaranteed cash flow for over 35 years with all remaining options.
CVS
Investment Highlights
- Attractive, High Quality Asset: The upscale property was built in 2009, has aesthetically pleasing facades and landscaping, and includes nationally recognized tenant CVS. The Property is well mainta
- Long-Term Credit Tenancy: CVS Health Corp (formerly CVS Corporation) has an investment-grade credit rating of BBB with Standard & Poor's rating agency, with nearly 13 years of initial term remaining
- Strong Demographics: Average Household incomes within a 3-mile radius of the Property exceed $117,000, and Median Home Value is over $357,000, far exceeding the national averages
- Population Growth: The Population within a 3-mile radius is expected to grow by approximately five percent over the next 5 years.
- Excellent Location: CVS is ideally situated on the southeast signalized corner of US Highway 441 (SR-7) and Yamato Road, two major thoroughfares in Boca Raton, with nearly 700 feet of total frontage and combined daily traffic counts of 65,000 vehicles per day.
Exclusively Listed By
Listing Price: $7,222,222
Investment Highlights
- Attractive, High Quality Asset: The upscale property was built in 2009, has aesthetically pleasing facades and landscaping, and includes nationally recognized tenant CVS. The Property is well mainta
- Long-Term Credit Tenancy: CVS Health Corp (formerly CVS Corporation) has an investment-grade credit rating of BBB with Standard & Poor's rating agency, with nearly 13 years of initial term remaining
- Strong Demographics: Average Household incomes within a 3-mile radius of the Property exceed $117,000, and Median Home Value is over $357,000, far exceeding the national averages
- Population Growth: The Population within a 3-mile radius is expected to grow by approximately five percent over the next 5 years.
- Excellent Location: CVS is ideally situated on the southeast signalized corner of US Highway 441 (SR-7) and Yamato Road, two major thoroughfares in Boca Raton, with nearly 700 feet of total frontage and combined daily traffic counts of 65,000 vehicles per day.
Investment Overview
Marcus & Millichap, as exclusive advisor, is pleased to offer for sale CVS (the “Property”), a Class-A, single-tenant retail property in Boca Raton, Florida, occupied by a 24-hour CVS pharmacy. CVS has been the tenant at this location since the building was first constructed in 2009, and they have nearly 13 years of their initial lease term remaining. They also have 25 years of renewal options, with 10-percent increases every five years. The Property is well located in southwestern Palm Beach County and is surrounded by affluent residential communities with 60,000 residents living within a 3-mile radius, with an average household income of over $117,000. The population has grown by seven percent since 2010 and is expected to further expand another five percent within the next 5 years. CVS offers nearly 700 feet of frontage along the southeast, signalized, hard-corner of Yamato Road and US Highway 441 (SR-7), two main thoroughfares in Boca Raton, and benefits from a combined daily traffic count of 65,000 vehicles per day. CVS is located a short distance from the Boca Town Center Mall, Florida Atlantic University, and Mizner Park; and is about 15 miles from Downtown Delray Beach and within 30 to 40 minutes from Downtown West Palm Beach, the Palm Beach International Airport, Downtown Ft. Lauderdale and the Ft. Lauderdale International Airport. The Property presents the opportunity to purchase a high-quality asset with excellent demographics and extremely high barriers-to-entry on one of Boca Raton’s most coveted signalized intersections. With zero Landlord maintenance responsibilities, investment-grade tenancy and extensive remaining lease term; this trophy asset provides secure, effortless, corporate-guaranteed cash flow for over 35 years with all remaining options.
Exclusively Listed By
