Gulf Beach CVS Pharmacy 44 Gulf Beach Highway, Pensacola, FL Cap Rate 5.35% Pensacola (Pensacola, Florida, US ) Built

$2,905,000 USD
Dollars

BAI-MEX Bienes Raíces y Negocios

  • Type: Commercial
  • Style: Commercial
  • Size: 10,908 sq. ft.
  • Development Level: Built
  • Lot Size: 1.16 acres
  • Year Built: 1999

Description

Gulf Beach CVS Pharmacy 44 Gulf Beach Highway, Pensacola, FL Cap Rate 5.35%

Cap Rate: 5.35%
NOI: $155,439
Building Size: 10,908 sqft
Lot Area: 1.16 acres
Occupancy: 100%
Year Built: 1999

Price: 2,905,000 USD

DESCRIPTION
9 Years Remaining | Scheduled Rental Increases | Options to Extend | Long-Standing Location
• The tenant, Holiday CVS, LLC has approximately 9 years remaining on their 10-year lease extension and 2 (5-year) options to extend, demonstrating their long-term commitment to the site
• The lease features scheduled rental increases every two years and at the beginning of each option period, generating NOI and hedging against inflation
• The asset is a successful, long-standing pharmacy location as the property has been operating since 1999, proving their success and market share over the past two decades
NNN Lease | Fee Simple Ownership | Zero Landlord Responsibilities
• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
• No landlord responsibilities
• Investor benefits from fee-simple ownership of the building and land
• Ideal management-free investment in a state with no state income tax

Signalized, Hard Corner Intersection | Strong Retail Corridor | Pensacola Naval Complex
• CVS is strategically located at the signalized, hard corner intersection of Gulf Beach Highway and N Navy Boulevard, averaging a combined 54,000 vehicles passing by daily
• Nearby national/credit tenants include Walmart Supercenter, Harbor Freight Tools, Chick-fil-A, Navy Federal Credit Union, Regions Bank and more
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for this site
• N. Navy Boulevard is a primary retail and commuter thoroughfare and leads directly to the Pensacola Naval Complex
• Pensacola Naval Complex is home to more than 16,000 military personnel and 7,500 civilians
Drive-Thru Equipped | Excellent Visibility & Access
• CVS is complete with a drive-thru, sustaining contactless pharmacy pick up and mitigating against COVID-19 spread
• The asset benefits from significant street frontage and ease of access for customers
Strong Demographics in 5-mile trade area
• More than 101,000 residents and 83,000 employees support the trade area
• Features an average household income of $57,303

For more information:
Javier Tamez Martínez.
jtamez@bai-mex.com
Celular: +52 (81) 1599 75 36
Podemos encontrar propiedades comerciales e industriales para invertir en cualquier ciudad y estado de estados unidos.

Attachments

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Information is deemed to be correct but not guaranteed.