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CVS 3511 US Highway 19 12,501 SF 100% Leased Retail Building New Port Richey, FL 34652 $3,782,052 CAD ($302.54 CAD/SF) 6.50% Cap Rate
Investment Highlights
- Absolute NNN Lease Structure – CVS operates under an absolute NNN lease, providing truly passive ownership with zero landlord responsibilities
- Corporate Guarantee – Lease is corporately guaranteed by CVS Health (NASDAQ: CVS).
- Dense Surrounding Population – The property is supported by 150,000+ residents within a 5-mile radius, driving consistent daily traffic
- Low Rent & Competitive Price Point – This location benefits from a low, replaceable rent of $14.38 PSF and a sub-$3 million price point.
- Hard-Corner Location on US Highway 19 – Positioned on a signalized hard corner along US-19 with ±65,000 combined vehicles per day
- Florida Growth Market – Florida continues to benefit from strong in-migration trends, particularly from retirees, supported by no state income tax
Executive Summary
Broker of Record
Kyle Matthews
License # CQ1066435 (FL)
Matthews Real Estate Investment Services, Inc
1600 West End Ave., Ste. 1500, Nashville, TN 37203
(866) 889-0550
Kyle Matthews
License # CQ1066435 (FL)
Matthews Real Estate Investment Services, Inc
1600 West End Ave., Ste. 1500, Nashville, TN 37203
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
12,501 SF
Building Class
B
Year Built
2004
Price
$3,782,052 CAD
Price Per SF
$302.54 CAD
Cap Rate
6.50%
NOI
$245,833 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.29
Lot Size
1.00 AC
Zoning
C2 - COMMERCIAL
Parking
40 Spaces (3.2 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Freeway Visibility
- Pylon Sign
- Signalized Intersection
- Drive Thru
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- -
CVS Pharmacy began in 1963 in Lowell, Massachusetts, as a health and beauty product retailer. The company expanded into pharmacy services in 1967 and grew through acquisitions to become a national healthcare provider. Today, CVS operates numerous retail pharmacy locations and walk-in clinics across the United States. The company also offers pharmacy benefit management services and health insurance products through various subsidiaries. CVS has established a significant presence in the healthcare sector by integrating retail, clinical, and insurance services.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - |
Bike Score®
Very Bikeable (74)
Nearby Major Retailers
Property Taxes
| Parcel Number | 19-26-16-0010-01400-0040 | Improvements Assessment | $1,063,939 CAD |
| Land Assessment | $883,273 CAD | Total Assessment | $1,947,212 CAD |
Property Taxes
Parcel Number
19-26-16-0010-01400-0040
Land Assessment
$883,273 CAD
Improvements Assessment
$1,063,939 CAD
Total Assessment
$1,947,212 CAD
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Presented by
CVS | 3511 US Highway 19
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