CVS Riverview, FL

Property Price: $5,490,000
Property Status: Closed
Property Type: Retail
Cap Rate: 5.35%
Lease Type: Fee Simple
Tenant Type: Single Tenant
NOI: $293,698
Building Size: 12,198 sf
Land Area: 2.133 acres
Remaining Term: 14 years
Expenses: NNN

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Landes Fairmount Properties is pleased to exclusively offer the opportunity to acquire the fee simple CVS (BBB+) property located in Riverview, FL. The lease is 100% guaranteed by CVS Caremark Corporation. The subject property opened in March 2003, when CVS began paying rent. CVS operates under twenty-five (25) year lease with approximately fourteen (14) years remaining on the initial lease term. The lease offers ten (10) extension periods, at five (5) years. CVS Caremark Corporation also corporately guarantees the extension periods.

This property is located on the northwest corner of McMullen Road and Boyette Road. Directly behind the property there is a large neighborhood within close 3 mile proximity for easy quick access. Located less than 3 miles away lies interstate 75, giving this CVS the advantage of providing easy access to people traveling on the interstate. Along the southwest corner there is a Sun Trust Bank and close by to the west there is the Goolsby Point Shopping Center, which brings in even further traffic into the area. Close by is Riverview Family Medicine, which helps provide the opportunity for prescriptions that CVS can easily provide for the 71,050 population, based on a 2010 Census, that reside in the 33569 zip code because of their immediate proximity. This property is a proven location for a CVS, providing a viable long-term investment opportunity.


Agent Contact Information

Justin Grissen
Managing Director

Austin Landes
Investment Advisor

Caleb Landes
Investment Advisor

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