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Drug Store

Miami CVS | NNN Lease

19800 NW 2nd Ave, Miami, FL 33169

Listing Price: $7,070,508

Cap Rate
6.00%
Tenant Name
CVS Pharmacy
Years Remaining On Lease
5.0
Guarantor
Corporate Guarantee
Rentable SF
12,474
Lease Type
Absolute Net
Rent Per Square Feet
$34.01

Investment Overview

Marcus & Millichap is pleased to present for sale this Absolute Net Leased CVS Pharmacy located at 19800 NW 2nd Avenue in Miami Gardens, Florida. The subject property consists of free-standing building comprised of 12,474 square feet of retail space and is situated on a large 2.17-acre parcel of land. Miami Gardens is a city in north-central Miami-Dade County, Florida and is located 16 miles north of Downtown Miami. Miami Gardens has a population over 111,640 and it is Florida’s most populous city also part of the Miami Metropolitan Area with population of 6.158 million people and the nation’s 9th largest population area. Miami Gardens is home to Hard Rock Stadium with a capacity of 64,767 and a multi-purpose stadium that serves as home to Miami Dolphins and Miami Hurricanes as well as The University of Miami’s NCAA Division I College Football Team. In 2022, The Miami International Autodrome located in Miami Gardens hosted the Miami Grand Prix for Formula One. Miami Gardens is also home to the Calder Race Course. Numerous apartment complexes surround this CVS property including Cedar Grove Apartments with 288 Units, Solabella Apartments with 92 units, Cottage Cove Apartments, Legacy Vista Palms, Parc Place, Pembroke Park Apartments, and many, many others. Colleges and universities in close vicinity include Broward College with 33,243 students and Broward College of Aviation which has trained over 35,000 pilots. Many hospitals also surround this CVS Pharmacy Property including Jackson North Medical Center, Jackson Miami Beach, Memorial Regional Hospital South and HCA Florida Aventura Hospital. CVS is an American Retail Corporation, a subsidiary of CVS Health headquartered in Woodsocket, Rhode Island. It is 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 2018. CVS sells prescription drugs and a wide assortment of general merchandise, including over-the-counter drugs, beauty products, cosmetics, film and photo finishing services and seasonal merchandise and convenience foods.

Investment Highlights

  • CVS Corporate Guarantee | CVS Health Corporation (NYSE: CVS)
  • Investment Grade Credit Tenant, Rated BBB+ by S&P™
  • Located in Miami Gardens, Florida Population 111,640 and Part of Miami Metropolitan Area with Population 6.158 Million
  • Absolute NNN | Zero Landlord Responsibility
  • Fee Simple Allowing for Depreciation
  • Florida is a No Income Tax State

Exclusively Listed By

Financing By

Drug Store

Miami CVS | NNN Lease

Listing Price: $7,070,508

Cap Rate
6.00%
Tenant Name
CVS Pharmacy
Years Remaining On Lease
5.0
Guarantor
Corporate Guarantee
Rentable SF
12,474
Lease Type
Absolute Net
Rent Per Square Feet
$34.01

Investment Highlights

  • CVS Corporate Guarantee | CVS Health Corporation (NYSE: CVS)
  • Investment Grade Credit Tenant, Rated BBB+ by S&P™
  • Located in Miami Gardens, Florida Population 111,640 and Part of Miami Metropolitan Area with Population 6.158 Million
  • 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 19800 NW 2nd Avenue in Miami Gardens, Florida. The subject property consists of free-standing building comprised of 12,474 square feet of retail space and is situated on a large 2.17-acre parcel of land. Miami Gardens is a city in north-central Miami-Dade County, Florida and is located 16 miles north of Downtown Miami. Miami Gardens has a population over 111,640 and it is Florida’s most populous city also part of the Miami Metropolitan Area with population of 6.158 million people and the nation’s 9th largest population area. Miami Gardens is home to Hard Rock Stadium with a capacity of 64,767 and a multi-purpose stadium that serves as home to Miami Dolphins and Miami Hurricanes as well as The University of Miami’s NCAA Division I College Football Team. In 2022, The Miami International Autodrome located in Miami Gardens hosted the Miami Grand Prix for Formula One. Miami Gardens is also home to the Calder Race Course. Numerous apartment complexes surround this CVS property including Cedar Grove Apartments with 288 Units, Solabella Apartments with 92 units, Cottage Cove Apartments, Legacy Vista Palms, Parc Place, Pembroke Park Apartments, and many, many others. Colleges and universities in close vicinity include Broward College with 33,243 students and Broward College of Aviation which has trained over 35,000 pilots. Many hospitals also surround this CVS Pharmacy Property including Jackson North Medical Center, Jackson Miami Beach, Memorial Regional Hospital South and HCA Florida Aventura Hospital. CVS is an American Retail Corporation, a subsidiary of CVS Health headquartered in Woodsocket, Rhode Island. It is 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 2018. CVS sells prescription drugs and a wide assortment of general merchandise, including over-the-counter drugs, beauty products, cosmetics, film and photo finishing services and seasonal merchandise and convenience foods.

Exclusively Listed By

Financing By

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