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Drug Store

Margate (Miami MSA) CVS | NNN Lease

255 S State Rd 7, Margate, FL 33068

Listing Price: $6,317,090

Cap Rate
6.05%
Tenant Name
CVS Pharmacy
Years Remaining On Lease
5.0
Guarantor
Corporate Guarantee
Rentable SF
11,169
Lease Type
Absolute Net
Rent Per Square Feet
$33.94

Investment Overview

Marcus & Millichap is pleased to present for sale this Absolute Net Leased CVS Pharmacy located at 255 S. State Road in Margate, Florida. The subject property consists of free-standing building comprised of 11,169 square feet of retail space and is situated on a .92-acre parcel of land. Margate is a city in Broward County, Florida with a population over 58,712 and part of the Miami-Metropolitan Area which was home to over 6,166,488 people in 2020. Margate is home to Calypso Cove Waterpark and The Carolina Golf Club and Oriole Golf and Tennis Club. Numerous apartment complexes surround this CVS property including Cross Creek Apartments with 336 Rented Units, Legacy Lakeview Apartments with 152 Rented Units, Vista Verde, The Palms Apartments, ARIUM Coconut Creek and ARIUM Lakeside among many, many others. The area around this CVS Pharmacy Store is booming with many brandnew home communities including The Enclave by Pulte Homes with 125 brand new homesites, Oak Tree by Pulte Homes with over 400 Homesites for single family homes as well as townhouses, Madison Place by D.R. Horton with 108 brand new homesites for building and Cassia Estates by Pulte Homes with 84 homesites. Nearby this CVS is HCA Florida Northwest Hospital which is a 289-bed hospital providing high quality health care services to Margate, Coconut Creek, Coral Springs and Parkland for more than 30 years. Colleges nearby this CVS property include Broward College with 33,243 students, Atlantic Technical College with 649 students and American College of Health. CVS is an American Retail Corporation, a subsidiary of CVS Health headquartered in Woodsocket, Rhode Island. It is also known as and originally named The Consumer Value Store and was founded in Lowell, Massachusetts in 1963. CVS has over 9,967 locations, 203,000 employees and Revenue of US $134.128 Billion in 2018. CVS sells prescription drugs and a wide assortment of general merchandise, including over-the-counter drugs, beauty products, cosmetics, film and photos finishing services, seasonal merchandise and convenience foods.

Investment Highlights

  • CVS Corporate Guarantee | CVS Health Corporation (NYSE: CVS)
  • Investment Grade Credit Tenant, Rated BBB+ by S&P™
  • Absolute NNN | Zero Landlord Responsibility
  • Fee Simple Allowing for Depreciation
  • Florida is a No Income Tax State

Exclusively Listed By

Financing By

Drug Store

Margate (Miami MSA) CVS | NNN Lease

Listing Price: $6,317,090

Cap Rate
6.05%
Tenant Name
CVS Pharmacy
Years Remaining On Lease
5.0
Guarantor
Corporate Guarantee
Rentable SF
11,169
Lease Type
Absolute Net
Rent Per Square Feet
$33.94

Investment Highlights

  • CVS Corporate Guarantee | CVS Health Corporation (NYSE: CVS)
  • Investment Grade Credit Tenant, Rated BBB+ by S&P™
  • Absolute NNN | Zero Landlord Responsibility
  • Fee Simple Allowing for Depreciation
  • Florida is a No Income Tax State

Investment Overview

Marcus & Millichap is pleased to present for sale this Absolute Net Leased CVS Pharmacy located at 255 S. State Road in Margate, Florida. The subject property consists of free-standing building comprised of 11,169 square feet of retail space and is situated on a .92-acre parcel of land. Margate is a city in Broward County, Florida with a population over 58,712 and part of the Miami-Metropolitan Area which was home to over 6,166,488 people in 2020. Margate is home to Calypso Cove Waterpark and The Carolina Golf Club and Oriole Golf and Tennis Club. Numerous apartment complexes surround this CVS property including Cross Creek Apartments with 336 Rented Units, Legacy Lakeview Apartments with 152 Rented Units, Vista Verde, The Palms Apartments, ARIUM Coconut Creek and ARIUM Lakeside among many, many others. The area around this CVS Pharmacy Store is booming with many brandnew home communities including The Enclave by Pulte Homes with 125 brand new homesites, Oak Tree by Pulte Homes with over 400 Homesites for single family homes as well as townhouses, Madison Place by D.R. Horton with 108 brand new homesites for building and Cassia Estates by Pulte Homes with 84 homesites. Nearby this CVS is HCA Florida Northwest Hospital which is a 289-bed hospital providing high quality health care services to Margate, Coconut Creek, Coral Springs and Parkland for more than 30 years. Colleges nearby this CVS property include Broward College with 33,243 students, Atlantic Technical College with 649 students and American College of Health. CVS is an American Retail Corporation, a subsidiary of CVS Health headquartered in Woodsocket, Rhode Island. It is also known as and originally named The Consumer Value Store and was founded in Lowell, Massachusetts in 1963. CVS has over 9,967 locations, 203,000 employees and Revenue of US $134.128 Billion in 2018. CVS sells prescription drugs and a wide assortment of general merchandise, including over-the-counter drugs, beauty products, cosmetics, film and photos finishing services, seasonal merchandise and convenience foods.

Exclusively Listed By

Financing By

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