Investment Overview

Marcus & Millichap is pleased to present for sale this Absolute Net Leased CVS located at 13199 SW 112th Street in Miami, Florida, just 23 miles South-West of Downtown Miami. The subject property consists of a 13,295 SF free-standing building with a drive-thru and is situated on a large 1.05- acre parcel of land. Strategically located on the hard signalized intersection of SW 112th Street and SW 134th Avenue, the site benefits from excellent access and visibility to more than 13,900 vehicles per day. The CVS sits as an outparcel to a highly trafficked and completely renovated Publix anchored center comprised of +109,000 SF of retail and tenants including YouFit Health Club, Chicken Kitchen, Chase, McDonald’s, and several others. Publix recently underwent a full tear-down/rebuild of its 47,000 SF box while the inline shops received full renovations. The property is also surrounded by thousands of rooftops from the multitude of nearby neighborhoods in the West Kendall Submarket, one of the most densely populated areas in South Florida. The immediate trade area is also home to Wendy’s, Dunkin, Wawa, Aldi, Burger King, Bonefish Grill, and numerous other National and Regional Tenants. Currently under construction, CVS’ brand-new NNN lease commenced in December 2022 and will feature 25 years of primary term with a corporate guaranty from CVS Health Corporation (S&P: BBB). CVS Health Corporation (NYSE: CVS; S&P: BBB) is a leading diversified health solutions company, boasting integrated offerings across the entire spectrum of pharmacy care. The company has more than 9,000 retail pharmacy locations with 1,100 walk-in medical clinics. Ranked #6 on the 2023 Fortune 500 list, CVS Health reported $330.9 billion in TTM total revenues, $239.3 billion in total assets, and $71.6 billion in net worth as of March 31, 2023. The CVS Health Corporation umbrella has four segments: Retail/LTC, Pharmacy Services, Health Care Benefits, and Corporate/Other.