1899 N Highland Ave
Clearwater, FL 33755
Dark CVS · Retail Property For Sale

Matthews Real Estate Investment Services is pleased to present the sale of a former CVS Pharmacy located at 1899 North Highland Avenue in Clearwater, Florida. This ±13,103 SF freestanding retail building sits on a ±1.4-acre hard corner lot at a signalized intersection, offering exceptional visibility and access along a major thoroughfare with ±13,000 vehicles per day. Built in 2008, the property features a desirable drive-thru infrastructure and a large parking field, making it ideal for re-tenanting or redevelopment.
The asset is backed by a corporate-guaranteed NN+ lease with minimal landlord responsibilities limited to exterior and plumbing, providing investors with a stable income stream and low management requirements. With approximately eight years remaining on the lease term and no rent increases, this property offers predictable cash flow and an attractive 8.50% cap rate.
Strategically positioned in a dense trade area with over 103,995 residents within a three-mile radius, the property benefits from strong household incomes and consistent consumer traffic. It is located within a thriving retail corridor anchored by national tenants such as Planet Fitness, Walmart Neighborhood Market, Dollar Tree, and Dunkin’. Clearwater’s robust demographics, combined with Florida’s no-income-tax advantage, make this an exceptional opportunity for investors seeking long-term value and tax-efficient returns.