Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a CVS Pharmacy located in Margate, FL, part of the Fort Lauderdale metro area. This is a Corporate guaranteed, triple net (NNN) lease offering three, five-year tenant renewal options and rent increases in each option period. This CVS is a long-term tenant that’s been in place for over 20 years, showing a strong commitment to the site. In addition, the Tenant recently exercised their first option with a rent bump. This CVS Pharmacy has excellent access and visibility to more than 75,000 vehicles at the signalized intersection of State Road 7 and Coconut Creek Parkway. This is a high traffic area, conveniently located in close proximity to the ramps to Florida’s Turnpike, which is a major north-south toll highway serving the area, with more than 130,000 vehicles daily. This is a very dense retail corridor, a half mile from Coconut Creek Plaza, anchored by Publix, Big Lots, Planet Fitness and Pet Supplies Plus, and Off the Wall Indoor Sports Complex. The Subject Property is also one mile from Lakewood Mall, with Tenants including Walmart Supercenter, Marshall’s, Harbor Freight Tools, Five Below, Rainbow Shops, Ross, T-Mobile, AT&T Store, Rack Room Shoes, Game Stop, and many others. The Property is also less than four miles from the Coral Square Mall, which is one of the central retail hubs in Margate and Coral Springs, anchored by JCPenney, Kohl’s, Macy’s, Old Navy and Cinemark Movie Theater, and features 120+ other retailers and restaurants. Margate is located in Broward County, which contains a population of 2 million people, and is part of the Greater Fort Lauderdale metropolitan area. The County’s population grew at a pace well above the United States rate during the past five years. With migration coming from the northeast and west coast, bringing more residents, the Fort Lauderdale Metro is experiencing strong job growth and population growth. Strategically located, Margate benefits from its proximity to the larger economic centers of Fort Lauderdale (10 miles east), Miami (38 miles south), and West Palm Beach (39 miles north) The area boasts exceptional demographics, with a population of over 165,000 within a three-mile radius and nearly 400,000 within five miles of the property. In addition to surrounding country clubs and established residential neighborhoods, there are thousands of apartment and condominium units located within two miles of the subject property, offering strong potential for consistent foot traffic and local demand.