24-Hour CVS Pharmacy with
For Sale
$2,950,000
6790 Central Florida Pkwy, Orlando, FL 32821
Freestanding 24-hour CVS on an absolute NNN lease with a dedicated drive-through pharmacy.
Property Size13,483 SF
Price / SF$218.79
Days on Market157
Property Features for 6790 Central Florida Pkwy
General Information
Standard status
Active
Size
13,483 SF
Property subtype
Drug Store
Amenities
Investment Grade Pharmacy Tenant – CVS
Absolute NNN Lease Structure – Tenant responsible for taxes, insurance, and maintenance
Strong Orlando Tourism Corridor Location adjacent to SeaWorld Orlando
Building Details
Building Size
13,483 SF
Listing Agency:
Salt Lake City Office
(801) 736-2621
Listed By:
Austin Williams · License #License(s): UT: 11054719-SA00
(801) 736-2621
Source:
Marcusmillichap
Added: Mar 28
Changed: Aug 26
Last Checked: Aug 30 at 1:10PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Salt Lake City Office
Investment Insights
Based on property information with market context.
CVS Pharmacy, Store #5400, is offered as a freestanding retail property on an absolute NNN lease. The site operates 24 hours and includes a dedicated drive-through pharmacy. CVS has operated at this location since 2010, and the property is configured as a 13,013 SF building on 1.746 acres.
The property sits at a signalized intersection of Central Florida Parkway and Westwood Boulevard and is immediately adjacent to SeaWorld Orlando in the I-Drive tourism corridor. The lease includes five renewal options extending through 2060. The offering is structured around a debt assumption of an existing $1,537,080 CMBS loan, with a disclosed “zero cash flow” debt assumption approach where CVS rent covers debt service. Alternatively, the seller can defease at closing for a $259,305 penalty to deliver free-and-clear title.
The property sits at a signalized intersection of Central Florida Parkway and Westwood Boulevard and is immediately adjacent to SeaWorld Orlando in the I-Drive tourism corridor. The lease includes five renewal options extending through 2060. The offering is structured around a debt assumption of an existing $1,537,080 CMBS loan, with a disclosed “zero cash flow” debt assumption approach where CVS rent covers debt service. Alternatively, the seller can defease at closing for a $259,305 penalty to deliver free-and-clear title.
Key Highlights
- 13,013 SF freestanding CVS on 1.746 acres immediately adjacent to SeaWorld Orlando (I‑Drive tourism corridor).
- Open 24 hours with a dedicated drive‑through pharmacy; operated at this location since 2010.
- Located at the signalized intersection of Central Florida Pkwy and Westwood Blvd (store #5400 at 6790 Central Florida Pkwy, Orlando, FL 32821).
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$264,764
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.98%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,295,280
$5.3M
Cap Rate 7%
$3,782,343
$3.8M
Cap Rate 9%
$2,941,822
$2.9M
Market Conditions
NOI Build-Up for 13,483 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$391.5K $29.04/SF
− Vacancy
−$13.3K −$0.99/SF
EGI
$378.2K $28.05/SF
− OpEx
−$113.5K −$8.42/SF
NOI
$264.8K $19.64/SF
Area
Orlando, FL
Vacancy
3.40%
Lease Rate
$29.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,295,280
Cap Rate 7%
$3,782,343
Cap Rate 9%
$2,941,822
Alternative Uses
Best Use
Specialty Retail
$4.05M
$3.55M – $4.73M
NOI $283,675 @ 7.0% cap · market cap 9.62%
Second Best
Retail
$3.78M
$3.31M – $4.41M
NOI $264,764 @ 7.0% cap · market cap 8.98%
Theoretical Best
Office A
$4.34M
$3.80M – $5.07M
NOI $304,034 @ 7.0% cap · market cap 10.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
503
Businesses Nearby
70k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 59%
Hotels & Casinos 31%
Dining 10%
7-Eleven
Shops & Services
24,017 visits/mo
0.2 miles
7-Eleven
Shops & Services
17,049 visits/mo
0.1 miles
Hilton Garden Inn Orlando at SeaWorld
Hotels & Casinos
7,860 visits/mo
0.1 miles
Bonefish Grill
Dining
7,204 visits/mo
0.1 miles
Residence Inn by Marriott Orlando at SeaWorld
Hotels & Casinos
5,535 visits/mo
0.4 miles
Demographics for 32821, FL
25,999
Population
15,061
Households
1.7
Avg Household Size
33
Median Age
44%
College-Educated
95%
High-School Grad
16.3 sq mi
ZIP Area
1,595
Density / Sq Mi
$59,927
Median Household Income
$39,230
Median Earnings
$1,782
Median Rent
$300,300
Median Home Value
Market
Vacancy Rate% for Retail in Orlando, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drug store - Freestanding 24-hour CVS on an absolute NNN lease with a dedicated drive-through pharmacy.
Where is this drug store located?
The property is located at 6790 Central Florida Pkwy Orlando, FL.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 13,013 SF freestanding CVS on 1.746 acres immediately adjacent to SeaWorld Orlando (I‑Drive tourism corridor).; Open 24 hours with a dedicated drive‑through pharmacy; operated at this location since 2010.; Located at the signalized intersection of Central Florida Pkwy and Westwood Blvd (store #5400 at 6790 Central Florida Pkwy, Orlando, FL 32821).
