1587 Courtenay Parkway, Merritt Island, FL
Deal Type:
Net Lease
Cap Rate:
Current Rent:
Lease Type:
Triple Net
Lease Term:
15 years
Landlord Responsibilities:
Renewal Options:
Twelve, 5 year options
Building Sq. Ft.:
11,978 SF
Rent Increases:
5% rent increases every 5 years
Site Size:
1.1 Acres

Investment Highlights

  • COMMITMENT: Walgreens has a 30+ year operating history and is signing a new, 15-year absolute NNN lease with 5% rent increases showing their commitment to the location.
  • LOCATION: Hard corner location at the intersection of Courtenay Parkway and Crockett Blvd, with traffic counts in excess of 38,500 vehicles per day.
  • PROFITABLE STORE: Extremely well-performing store with $3.2 million in sales volume.
  • DEMOGRAPHICS: Over 77,000 residents in a 5 mile radius and incomes exceeding $93,000 in a 1-mile radius.

Listing Agents

Jordan Shtulman

Managing Principal
847 226 4133
[email protected]

Broker of Record: Jonathan Wolfe, Lic. #BK350717

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