Freestanding CVS Pharmacy in
For Sale
Contact for pricing
3700 NW 199th St, Miami Gardens, FL
Single-tenant CVS with Absolute NNN lease in Miami Gardens.
Property Size15,114 SF
Lot Size1.59 Acres
Price / SF$402.94
Days on Market544
Property Features for 3700 NW 199th St
General Information
Standard status
Active
Size
15,114 SF
Lot size
1.59 Acres
Property subtype
RETAIL
Listing Agency:
Current Real Estate Advisors
Listed By:
Alejandro Snyder · License #BK3386095
(305) 783-8890
Source:
Moodyscre
Added: Apr 30, 2025
Changed: Oct 1
Last Checked: Oct 24 at 8:15PM
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 Current Real Estate Advisors
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 freestanding, single-tenant property is leased to CVS Pharmacy and is situated on a 1.55-acre parcel. The property is located in the core of the Miami MSA. The building has a size of approximately 15,114 square feet. The property is under an Absolute NNN lease, with no landlord responsibilities. Approximately 6 years remain on the initial lease term, complemented by 10, 5-year renewal options.
Key Highlights
- Absolute NNN lease provides a passive income stream with no landlord responsibilities.
- Leased to CVS Pharmacy (NYSE: CVS), a leading pharmacy brand, offering tenant security.
- Strategic location in the core of the Miami MSA.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$207,848
Cap Rate
3.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,156,960
$4.2M
Cap Rate 7%
$2,969,257
$3.0M
Cap Rate 9%
$2,309,422
$2.3M
Market Conditions
NOI Build-Up for 15,114 SF
Gross rent
$290.2K $19.20/SF
− Vacancy
−$13.1K −$0.86/SF
EGI
$277.1K $18.34/SF
− OpEx
−$69.3K −$4.58/SF
NOI
$207.8K $13.75/SF
Area
Miami Gardens, FL
Vacancy
4.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,156,960
Cap Rate 7%
$2,969,257
Cap Rate 9%
$2,309,422
Alternative Uses
Best Use
Specialty Retail
$2.97M
$2.60M – $3.46M
NOI $207,848 @ 7.0% cap · market cap 3.41%
Second Best
Retail
$2.62M
$2.29M – $3.06M
NOI $183,562 @ 7.0% cap · market cap 3.01%
Theoretical Best
Office A
$4.50M
$3.94M – $5.25M
NOI $314,975 @ 7.0% cap · market cap 5.17%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,491
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
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
Similar Off Market Nearby
- Andrew L. Hoang, PharmD — 6301 SW 41st St, Miramar, FL 33023
- Vickie Dewitt, RPH — 6301 SW 41st St, Miramar, FL 33023
- all you need beauty suply — 3056 S State Rd 7 Suite #27, Miramar, FL 33023
- Xpresso Pharmacy — 6305B Miramar Pkwy, Miramar, FL 33023
- Herbalife — 6142 Miramar Pkwy, Miramar, FL 33023
Frequently Asked Questions
What type of property is this?
Drug store - Single-tenant CVS with Absolute NNN lease in Miami Gardens.
Where is this drug store located?
The property is located at 3700 NW 199th St Miami Gardens, FL.
What is the asking price?
The asking price for this property is $6,090,000.
What are key features of this property?
This property features: Absolute NNN lease provides a passive income stream with no landlord responsibilities.; Leased to CVS Pharmacy (NYSE: CVS), a leading pharmacy brand, offering tenant security.; Strategic location in the core of the Miami MSA.
