CVS Pharmacy with
5748 Southwest 40th Street, Miami, FL 33155
For Sale
Contact for pricing
A corporate-guaranteed absolute net ground lease has more than 13 years remaining.
Property Size14,489 SF
Lot Size2.13 Acres
Price / SF$609.08
Days on Market20
Property Features for 5748 Southwest 40th Street
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Site & Location
Drive-Thru
Road Access
Tenancy & Operations
Currently Operating
Tenant in Place
Building Details
Year Built
Buildings
Tenancy
Listing Agency:
Marcus & Millichap
Listed By:
Scott Sandelin · License FL SL636794
(786) 522-7009
Source:
Crexi
Added: Oct 21
Changed: Nov 8
Last Checked: Nov 8 at 5:48PM
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 Marcus & Millichap
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 CVS Pharmacy occupies a 14,489-square-foot building completed in 2014 on a 2.13-acre parcel. The store operates around the clock and includes a pharmacy drive-through. Its absolute net ground lease has 13+ years remaining, followed by (9) 5-year renewal options with 7.5% rental increases during each option term; the lease is guaranteed by CVS corporate.
At 5748 Southwest 40th Street, the property has approximately 400 linear feet of frontage on Bird Road and sits at the signalized junction with SW 57th Avenue. Traffic counts are 50,000+ VPD on Bird Road and 14,000+ VPD on SW 57th Avenue. The site has two access points, parking and signage along Bird Road. Nearby retailers include Milam’s Market, Walgreens and Ace Hardware, with Red Bird Shopping Center also in the area.
At 5748 Southwest 40th Street, the property has approximately 400 linear feet of frontage on Bird Road and sits at the signalized junction with SW 57th Avenue. Traffic counts are 50,000+ VPD on Bird Road and 14,000+ VPD on SW 57th Avenue. The site has two access points, parking and signage along Bird Road. Nearby retailers include Milam’s Market, Walgreens and Ace Hardware, with Red Bird Shopping Center also in the area.
Key Highlights
- 14,489 SF building constructed in 2014 on a 2.13 AC parcel
- Absolute net ground lease with 13+ years remaining and a corporate CVS guarantee
- (9) 5‑year options; rental increases of 7.5% during each option term
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$684,612
Cap Rate
7.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$13,692,240
$13.7M
Cap Rate 7%
$9,780,171
$9.8M
Cap Rate 9%
$7,606,800
$7.6M
Market Conditions
NOI Build-Up for 14,489 SF
Gross rent
$926.7K $63.96/SF
− Vacancy
−$13.9K −$0.96/SF
EGI
$912.8K $63.00/SF
− OpEx
−$228.2K −$15.75/SF
NOI
$684.6K $47.25/SF
Area
Miami, FL
Vacancy
1.50%
Lease Rate
$63.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$13,692,240
Cap Rate 7%
$9,780,171
Cap Rate 9%
$7,606,800
Alternative Uses
Best Use
Specialty Retail
$9.78M
$8.56M – $11.41M
NOI $684,612 @ 7.0% cap · market cap 7.76%
Second Best
Retail
$6.75M
$5.91M – $7.88M
NOI $472,714 @ 7.0% cap · market cap 5.36%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,155
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33155, FL
43,695
Population
16,046
Households
2.7
Avg Household Size
45
Median Age
37%
College-Educated
85%
High-School Grad
7.4 sq mi
ZIP Area
5,905
Density / Sq Mi
$79,271
Median Household Income
$41,919
Median Earnings
$1,871
Median Rent
$505,000
Median Home Value
Market
Vacancy Rate% for Retail in Miami, FL
Similar Off Market Nearby
- Diva Skin and Body Treatment — 2642 NW 97th Ave, Doral, FL 33172
- PharmaBox — 9649 NW 33rd St, Doral, FL 33172
- Elizabeth Carp — 9301 NW 33rd St, Doral, FL 331721202
- Bonne Sante Natural Manufacturing — 10575 NW 37th Terrace, Miami, FL 33178
- HealRain — 3980 adra ave, doral, fl 33178
Frequently Asked Questions
What type of property is this?
Drug store - A corporate-guaranteed absolute net ground lease has more than 13 years remaining.
Where is this drug store located?
The property is located at 5748 Southwest 40th Street Miami, FL.
What is the asking price?
The asking price for this property is $8,825,000.
What are key features of this property?
This property features: 14,489 SF building constructed in 2014 on a 2.13 AC parcel; Absolute net ground lease with 13+ years remaining and a corporate CVS guarantee; (9) 5‑year options; rental increases of 7.5% during each option term
