CVS

700 NE 7th Ave, Delray Beach, FL
Deal Type:
Net Lease
Price:
$10,509,600
Cap Rate:
6.25%
Current Rent:
$656,849
Lease Type:
DoubleNet
Landlord Responsibilities:
Roof and Structure
Renewal Options:
3, 5-year options
Building Sq. Ft.:
13,224 SF
Rent Increases:
5% per option
Site Size:
.98 Acres

Investment Highlights

  • Investment Grade Credit: CVS holds a credit rating of BBB/Stable with S&P
  • Strategical Positioning: CVS is situated in between NE 5th Ave, 6th Ave, and George Bush Blvd., providing excellent vehicular access and the only pharmacy before crossing the inter-coastal
  • Affluent South Florida Location: Delray Beach is a premier South Florida market with incomes in excess of $142,000 within 1 mile
  • Minimal Landlord Responsibilities: CVS maintains the common areas and day-to-day maintenance of the property
  • Infill Retail Location: There is minimal developable land or vacancy in the immediate area making future relocation difficult
  • Grocery-Anchored Retail Corridor: Publix is two blocks south helping the consumer draw in the immediate area

Listing Agents

Connor Shell

Managing Director
407 913 9009
[email protected]

Graham Gold

Vice President
314 324 8792
[email protected]

Broker of Record: Sasha Dominguez, FL Lic#: BK3339010

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