Log In/Sign Up
Your email has been sent.
434 Racetrack Rd NE
Fort Walton Beach, FL 32547
Retail Property For Sale
Investment Highlights
- Investment-grade CVS guaranty (BBB); $370B+ revenue, 9,000+ stores
- 9.3 years remaining + 10×5-yr options (up to 59 years total)
- A+ corner: signalized intersection, 79K ADT, Publix co-anchor (~74K monthly visits combined)
- True NNN lease; zero landlord duties (taxes, maintenance, insurance)
- Strong sales: $10.1M, 3.29% OCC, $724/SF; consistent growth
- Prime Fort Walton Beach: tourism (8M visitors), military base demand, excellent US-98 access
Executive Summary
CBRE is pleased to present for sale CVS Pharmacy located at 434 Racetrack Road NE in Fort Walton Beach, Okaloosa County, approximately 50 miles east of Pensacola and just minutes from Florida's renowned Emerald Coast beaches.
CVS Pharmacy is one of the nation's most recognized and trusted pharmacy and convenience retail brands, operating thousands of locations across all 50 states. The company's long-standing market presence, essential-use business model, and focus on prescription services, health & wellness, and everyday convenience items have established it as a highly resilient tenant within the retail real estate sector.
The property is strategically positioned along Racetrack Road NE, a key local thoroughfare with strong daily traffic counts and convenient access to surrounding residential neighborhoods, retail centers, and service destinations. This busy corridor serves as an important connector providing exceptional visibility and accessibility for both local residents and pass-through traffic throughout the day.
Fort Walton Beach benefits from the presence of two major military installations: Eglin Air Force Base and Hurlburt Field, which collectively support tens of thousands of active-duty personnel, civilian employees, contractors, and their families. Eglin AFB alone is one of the largest Air Force installations in the world and serves as a critical economic engine for the entire region, providing a stable year-round population base that sets this market apart from many other seasonal coastal communities.
In addition to its strong military presence, Fort Walton Beach is part of Florida's famed Emerald Coast and sits just minutes from the Gulf of Mexico and neighboring Destin, one of the state's premier tourism destinations. The region attracts millions of visitors annually, supporting consistent demand for convenience retail and daily-needs shopping.
For investors seeking a truly passive income stream secured by Fortune 500 credit, this Fort Walton Beach CVS delivers exactly that: nothing to manage, no landlord obligations to absorb, and decades of renewal optionality still on the table in one of Florida's most resilient coastal markets.
CVS Pharmacy is one of the nation's most recognized and trusted pharmacy and convenience retail brands, operating thousands of locations across all 50 states. The company's long-standing market presence, essential-use business model, and focus on prescription services, health & wellness, and everyday convenience items have established it as a highly resilient tenant within the retail real estate sector.
The property is strategically positioned along Racetrack Road NE, a key local thoroughfare with strong daily traffic counts and convenient access to surrounding residential neighborhoods, retail centers, and service destinations. This busy corridor serves as an important connector providing exceptional visibility and accessibility for both local residents and pass-through traffic throughout the day.
Fort Walton Beach benefits from the presence of two major military installations: Eglin Air Force Base and Hurlburt Field, which collectively support tens of thousands of active-duty personnel, civilian employees, contractors, and their families. Eglin AFB alone is one of the largest Air Force installations in the world and serves as a critical economic engine for the entire region, providing a stable year-round population base that sets this market apart from many other seasonal coastal communities.
In addition to its strong military presence, Fort Walton Beach is part of Florida's famed Emerald Coast and sits just minutes from the Gulf of Mexico and neighboring Destin, one of the state's premier tourism destinations. The region attracts millions of visitors annually, supporting consistent demand for convenience retail and daily-needs shopping.
For investors seeking a truly passive income stream secured by Fortune 500 credit, this Fort Walton Beach CVS delivers exactly that: nothing to manage, no landlord obligations to absorb, and decades of renewal optionality still on the table in one of Florida's most resilient coastal markets.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
13,949 SF
Building Class
B
Year Built
1998
Price
$8,022,651 CAD
Price Per SF
$575.14 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.21
Lot Size
1.49 AC
Frontage
361’ on Racetrack Rd
Amenities
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
Property Taxes
| Parcel Number | 01-2S-24-0600-0000-07F1 | Improvements Assessment | $1,134,101 CAD |
| Land Assessment | $1,151,135 CAD | Total Assessment | $2,285,236 CAD |
Property Taxes
Parcel Number
01-2S-24-0600-0000-07F1
Land Assessment
$1,151,135 CAD
Improvements Assessment
$1,134,101 CAD
Total Assessment
$2,285,236 CAD
1 of 10
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
