Single-Tenant CVS Triple
For Sale
Contact for pricing
1390 S JEFFERSON ST, Monticello, FL 32344
Built in 2007 and leased as absolute triple net through January 2033 to CVS.
Property Size13,800 SF
Price / SF$293.40
Days on Market56
Property Features for 1390 S JEFFERSON ST
General Information
Standard status
Active
Size
13,800 SF
Property subtype
Retail
Site & Location
Traffic Count
11,300 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2007
Tenancy
Single
Listing Agency:
Bang Realty
(888) 737-2264
Listed By:
Brian Brockman · License #701472
Source:
Crexi
Added: Jun 11
Changed: Jul 10
Last Checked: Aug 4 at 9:24AM
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 Bang Realty
Investment Insights
Based on property information with market context.
This single-tenant CVS property was built in 2007 and has been continuously occupied by CVS since construction. The 13,800-square-foot building operates under an absolute triple net lease, with no landlord responsibilities under the lease terms. The current CVS lease runs through January 2033 and includes ten 5-year renewal options with various rental escalations.
The property is located along US Highway 19 in Monticello, Florida within the Tallahassee MSA. US Highway 19 carries 11,300 vehicles per day, supporting strong day-to-day visibility for the site. Limited nearby competition is noted, with the nearest Walgreens located 25 miles west in Tallahassee.
For investors seeking a long-term, operationally simple retail lease structure, this asset provides an institutional-quality tenant in a dedicated, single-tenant format. The property’s position on a major roadway and proximity to other established retailers, including Tractor Supply Company, Burger King, Dollar Tree, Pizza Hut, and Dollar General Market, may support steady consumer traffic patterns aligned with neighborhood retail activity.
The property is located along US Highway 19 in Monticello, Florida within the Tallahassee MSA. US Highway 19 carries 11,300 vehicles per day, supporting strong day-to-day visibility for the site. Limited nearby competition is noted, with the nearest Walgreens located 25 miles west in Tallahassee.
For investors seeking a long-term, operationally simple retail lease structure, this asset provides an institutional-quality tenant in a dedicated, single-tenant format. The property’s position on a major roadway and proximity to other established retailers, including Tractor Supply Company, Burger King, Dollar Tree, Pizza Hut, and Dollar General Market, may support steady consumer traffic patterns aligned with neighborhood retail activity.
Key Highlights
- Single‑tenant CVS property built in 2007
- Lease runs through January 2033 and is absolute triple net with no landlord responsibilities
- 13,800 SF building on US Highway 19 with 11,300 vehicles per day (per provided data)
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $223.6k | $16.20 |
| − Vacancy | −$13.4k | −$0.97 |
| EGI | $210.1k | $15.23 |
| − OpEx | −$52.5k | −$3.81 |
| NOI | $157.6k | $11.42 |
13,800 SF · lease $16.20/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.25M
$1.97M – $2.63M
NOI $157,610 @ 7.0% cap · market cap 3.89%
Second Best
Retail
$1.91M
$1.68M – $2.23M
NOI $134,033 @ 7.0% cap · market cap 3.31%
Theoretical Best
Office A
$3.38M
$2.96M – $3.95M
NOI $236,821 @ 7.0% cap · market cap 5.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11,300 VPD
Traffic count
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
150
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32344, FL
12,705
Population
5,988
Households
2.1
Avg Household Size
49
Median Age
21%
College-Educated
87%
High-School Grad
444.6 sq mi
ZIP Area
29
Density / Sq Mi
$52,222
Median Household Income
$37,131
Median Earnings
$776
Median Rent
$208,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drug store - Built in 2007 and leased as absolute triple net through January 2033 to CVS.
Where is this drug store located?
The property is located at 1390 S JEFFERSON ST Monticello, FL.
What is the asking price?
The asking price for this property is $4,048,876.
What are key features of this property?
This property features: Single‑tenant CVS property built in 2007; Lease runs through January 2033 and is absolute triple net with no landlord responsibilities; 13,800 SF building on US Highway 19 with 11,300 vehicles per day (per provided data)
