Freestanding CVS Pharmacy in
3700 NW 199th St Miami Gardens, FL
For Sale
Contact for pricing
Single-tenant CVS with Absolute NNN lease in Miami Gardens.
Property Size15,114 SF
Lot Size1.59 Acres
Price / SF$402.94
Days on Market454
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
(305) 783-8890
Listed By:
Alejandro Snyder · License #FL SL3456361
(305) 783-8890
Source:
Moodyscre
Added: Apr 30, 2025
Changed: Jul 10
Last Checked: Jul 21 at 6:18AM
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
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 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 | $290.2k | $19.20 |
| − Vacancy | −$13.1k | −$0.86 |
| EGI | $277.1k | $18.34 |
| − OpEx | −$69.3k | −$4.58 |
| NOI | $207.8k | $13.75 |
15,114 SF · lease $19.20/SF/yr · vacancy 4.50% · expense 25.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Drug stores
Similar Off Market Nearby
- Herbalife — 6142 Miramar Pkwy, Miramar, FL 33023
- Xpresso Pharmacy — 6305B Miramar Pkwy, Miramar, FL 33023
- 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
FAQs
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.
