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    255 S State Road 7 Margate, FL 33068

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    Absolute Net Leased CVS Pharmacy in Margate, Florida.

    Property size:
    11,169 SF
    Lot size:
    0.92 Acres

    Property Features for 255 S State Road 7

    General Information

    Standard status
    Active
    Size
    11,169 SF
    Lot size
    0.92 Acres

    Building Details

    Year built
    2002

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    Listing Contact
    Gabriel Britti
    Source: Crexi

    Listing Agency: Marcus & Millichap - Issenberg Britti Group Listing Agent: Gabriel Britti

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Freestanding CVS Pharmacy For Sale

    This is an Absolute Net Leased CVS Pharmacy for sale, located at 255 S. State Road in Margate, Florida. The property features a freestanding building with 11,169 square feet of retail space on a 0.92-acre parcel of land. The surrounding area is experiencing growth with numerous apartment complexes and brand-new home communities. Nearby residential complexes include Cross Creek Apartments (336 units), Legacy Lakeview Apartments (152 units), Vista Verde, The Palms Apartments, ARIUM Coconut Creek, and ARIUM Lakeside. New home communities in the vicinity are The Enclave by Pulte Homes (125 homesites), Oak Tree by Pulte Homes (over 400 homesites), Madison Place by D.R. Horton (108 homesites), and Cassia Estates by Pulte Homes (84 homesites). The property is near HCA Florida Northwest Hospital, a 289-bed facility, as well as Broward College (33,243 students), Atlantic Technical College (649 students), and American College of Health. CVS is an American Retail Corporation with over 9,967 locations, 203,000 employees and Revenue of US $134.128 Billion in 2018. CVS sells prescription drugs and a wide assortment of general merchandise, including over-the-counter drugs, beauty products, cosmetics, film and photos finishing services, seasonal merchandise and convenience foods. Margate is a city in Broward County, Florida with a population over 58,712 and part of the Miami-Metropolitan Area which was home to over 6,166,488 people in 2020.
    Location Intelligence

    Current Use by Public Records

    Drug stores

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Herbalife - Paradise health & nutrition, Dahlia Taylor, CVS Pharmacy

    Location Insight

    • Map
    • Local Demand
    City
    Margate
    County
    Broward
    State
    Florida
    Longitude
    -80.2162
    Latitude
    26.2166

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    FAQs

    What type of property is this?
    Drug store - Absolute Net Leased CVS Pharmacy in Margate, Florida.
    Where is this drug store located?
    The property is located at 255 S State Road 7 Margate, FL.
    What are key features of this property?
    This property features: - Absolute net leased CVS Pharmacy for passive income.; - Located in Margate, Florida, part of the Miami-Metropolitan Area.; - High-traffic location surrounded by apartment complexes and new home communities.
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    255 S State Road 7 Margate, FL 33068
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    We can help!
    Listing Contact
    Gabriel Britti
    Real Estate License ID: FL SL3211804
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