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$297.47
Days on Market146
Property Features for 1390 S JEFFERSON ST
General Information
Standard status
Active
Size
13,800 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$295,568
Site & Location
Traffic Count
11,300 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2007
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Bang Realty
Listed By:
Brian Brockman · License #701472
(859) 581-1113
Source:
Crexi
Added: Jun 11
Changed: Nov 3
Last Checked: Nov 3 at 5:55AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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
Estimated NOI and Cap Rate
NOI / Yr
$157,610
Cap Rate
3.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,152,200
$3.2M
Cap Rate 7%
$2,251,571
$2.3M
Cap Rate 9%
$1,751,222
$1.8M
Market Conditions
NOI Build-Up for 13,800 SF
Gross rent
$223.6K $16.20/SF
− Vacancy
−$13.4K −$0.97/SF
EGI
$210.1K $15.23/SF
− OpEx
−$52.5K −$3.81/SF
NOI
$157.6K $11.42/SF
Area
Jefferson County, FL
Vacancy
6.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,152,200
Cap Rate 7%
$2,251,571
Cap Rate 9%
$1,751,222
Alternative Uses
Best Use
Specialty Retail
$2.25M
$1.97M – $2.63M
NOI $157,610 @ 7.0% cap · market cap 3.84%
Second Best
Retail
$1.91M
$1.68M – $2.23M
NOI $134,033 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$3.38M
$2.96M – $3.95M
NOI $236,821 @ 7.0% cap · market cap 5.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
11,300 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
114
Businesses Nearby
Balanced
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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 $4,105,111.
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)
