CVS Pharmacy Freestanding Lease 101 S. Ridgewood Avenue, Daytona Beach, FL Cap Rate 6.12% Daytona Beach ( Florida, US ) Built

$4,950,000 USD

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  • Type: Commercial
  • Style: Commercial
  • Size: 10,981 sq. ft.
  • Development Level: Built
  • Lot Size: 1.61 acres
  • Year Built: 1998


CVS Pharmacy Freestanding Lease 101 S. Ridgewood Avenue, Daytona Beach, FL Cap Rate 6.12%

Cap Rate: 6.12%
NOI: $303,133
Building Size: 10,981 sqft
Lot Area: 1.61 acres
Class: B
Lease Type: Double Net
Year Built: 1998
Zoning: Retail

Price: $4,950,000 USD

The subject property is a freestanding 10,981-square foot drug store with drive-thru on 1.61 acres in Daytona Beach, Volusia County, Florida.
The lease is net net with limited landlord responsibility and is guaranteed by CVS, a Standard & Poor's BBB+ investment-grade tenant. The 20-year lease commenced in 1998 and has renewed for their first 5 year option period, which gives them three five year option periods remaining with increases in each option period.
CVS is located at the signalized intersection of W. International Speedway Blvd. and S. Ridgewood Drive, in Dayton, Florida. Traffic counts at the intersection are 50,000 +/-
vehicles per day.
The densely populated area has more than 95,579 people within a five mile radius. Growth has been intense and steady. The area surrounding the property grew by over 3.35 percent from 2010-2015 with an average household income of $42,747 per year.
Sales for pharmacies and drug stores for 2015 were $53,740,803.00 in the five mile radius.
This property lies in close proximity to many national retailers, Bethune Cookman University, Daytona State College, the Daytona International Speedway and the beaches
This asset is offered for $4,950,000.00 at a 6.12 percent cap.

For more information:
Javier Tamez Martínez.
Celular: +52 (81) 1599 75 36
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Information is deemed to be correct but not guaranteed.