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Triple-Net CVS- FL

4404 South Highway 27, Clermont, FL 34711

Last Updated: 08/23/2017
Property Type:Retail
Year Built:2002
Class:A
Size:13,824 SF
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4404 South Highway 27, Clermont, FL 34711

Building Overview

Building Description

■ GUARANTEED BY “CVS CORPORATE” (NYSE: CVS) S&P RATED: BBB+ ■ SUBJECT TO ABSOLUTE-NET LEASE WITH OVER 5 YEARS REMAINING IN INITIAL 20-YEAR TERM ■ FOUR OPTION PERIODS REMAINING WITH 3 PERCENT INCREASES ■ AFFLUENT ORLANDO SUBURB - AVERAGE HOUSEHOLD INCOME EXCEEDS $74,000, ANNUALLY ■ TWO, FULL SERVICE PHARMACY DRIVE-THRU WINDOWS ■ SIGNALIZED INTERSECTION - HARD CORNER Marcus & Millichap is pleased to present for sale this freestanding, absolute triple-net leased CVS located at 4405 S Hwy 27, Clermont, FL 34711, just a short 30 mile drive West of downtown Orlando, Florida. The subject property consists of 13,824 square feet and is situated on a large 2.06 acre parcel with two full service, pharmacy drive-thru windows. This CVS is strategically located at the signalized intersection of Hartwood Marsh Road and South Highway 27 with traffic count exceeding 29,000 vehicles per day. There are over 70,000 fulltime residents in the immediate trade area with an average household income exceeding $74,000 annually. There are over 5 years remaining on the original 20-Year lease including four five-year options with 3 percent increases in each. A Publix anchored retail center is conveniently located across from the property and includes a McDonald’s, Regions Bank, BB&T Bank and a Suntrust Bank. . CVS Health Corporation (formerly CVS Caremark Corp.) together with its subsidiaries is currently the largest pharmacy chain in the United States as indicated by the number of locations (over 9,600 as of 2016) and its total prescriptions revenue. As the retail pharmacy division of CVS Health, it ranks as the 7th largest U.S. corporation according to Fortune 500 in 2016. CVS sells prescription drugs and a wide assortment of general merchandise, including over-the-counter drugs, beauty products and cosmetics, film and photo finishing services, seasonal merchandise, greeting cards, and convenience foods through their CVS Pharmacy and Longs Drugs retail stores and online through CVS.com. It also provides health care services through its more than 1,100 Minute Clinic medical clinics as well as their Diabetes Care Centers. Most of these clinics are located within CVS stores.

Building Details

Property Type:Retail
Year Built:2002
Class:A
Size:13,824 SF
Subtype:Other
Build Status:Existing
Tenancy:Single Tenant
Lot Size:89,734 SF

All Listings in this Building

4404 South Highway 27, Clermont, FL 34711
Triple-Net CVS- FL
Listing Type:Building for Sale
Size:13,824 SF
Price:$4,590,000.00

Location

4404 South Highway 27, Clermont, FL 34711

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