Single-Tenant CVS
For Sale
Contact for pricing
7380 Davis Boulevard, Naples, FL 34104
Long-running CVS lease on a highly visible signalized corner with scheduled rental increases every five years.
Property Size13,013 SF
Price / SF$576.33
Days on Market65
Property Features for 7380 Davis Boulevard
General Information
Standard status
Active
Size
13,013 SF
Property subtype
Retail
Lease Type
NNN
Net Operating Income
$449,989
Additional Details
Traffic Count
54,000 vehicles/day
Building Details
Year Built
2010
Tenancy
Single
Listing Agency:
Pharma Property Group
(619) 297-0055
Listed By:
Jason Pongsrikul · License #CA 01918332
Source:
Crexi
Added: Jun 9
Changed: Aug 8
Last Checked: Aug 10 at 4:12PM
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 Pharma Property Group
Investment Insights
Based on property information with market context.
This sale offers a single-tenant CVS pharmacy property with an established operating history exceeding 15 years. The lease provides for 5-year rental increases of ±5%, supporting long-term income structure under the existing agreement. The property size is listed as 13,013 square feet.
The CVS is positioned on a highly visible signalized hard corner on Davis Boulevard in Naples, Florida. The site benefits from exposure to more than 54,000 vehicles per day, serving a retail corridor that is actively expanding. New development activity in the immediate area includes Wawa, McDonald’s, AutoZone, and Whole Foods.
For investors or operators seeking a durable retail healthcare tenant, this CVS location offers a proven, long-term pharmacy presence in an affluent market. The trade area continues to see demographic growth, with population increasing nearly 15% within 3 miles over the past five years and projected to rise an additional 1.8% annually through 2030. The immediate area also includes ongoing residential expansion, with multifamily and single-family projects recently completed, under construction, or planned, intended to add hundreds of new housing units and further broaden the local customer base.
The CVS is positioned on a highly visible signalized hard corner on Davis Boulevard in Naples, Florida. The site benefits from exposure to more than 54,000 vehicles per day, serving a retail corridor that is actively expanding. New development activity in the immediate area includes Wawa, McDonald’s, AutoZone, and Whole Foods.
For investors or operators seeking a durable retail healthcare tenant, this CVS location offers a proven, long-term pharmacy presence in an affluent market. The trade area continues to see demographic growth, with population increasing nearly 15% within 3 miles over the past five years and projected to rise an additional 1.8% annually through 2030. The immediate area also includes ongoing residential expansion, with multifamily and single-family projects recently completed, under construction, or planned, intended to add hundreds of new housing units and further broaden the local customer base.
Key Highlights
- CVS property at 7380 Davis Boulevard in Naples, Florida, with a long operating history at the location for over 15 years
- Lease includes 5‑year rental increases of ±5%
- Highly visible signalized hard‑corner location with exposure to more than 54,000 vehicles per day
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$256,925
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.43%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,138,500
$5.1M
Cap Rate 7%
$3,670,357
$3.7M
Cap Rate 9%
$2,854,722
$2.9M
Market Conditions
NOI Build-Up for 13,013 SF
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.
Gross rent
$351.4K $27.00/SF
− Vacancy
−$8.8K −$0.68/SF
EGI
$342.6K $26.33/SF
− OpEx
−$85.6K −$6.58/SF
NOI
$256.9K $19.74/SF
Area
Collier County, FL
Vacancy
2.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,138,500
Cap Rate 7%
$3,670,357
Cap Rate 9%
$2,854,722
Alternative Uses
Best Use
Specialty Retail
$3.67M
$3.21M – $4.28M
NOI $256,925 @ 7.0% cap · market cap 3.43%
Second Best
Retail
$2.26M
$1.98M – $2.64M
NOI $158,455 @ 7.0% cap · market cap 2.11%
Theoretical Best
Office A
$5.22M
$4.57M – $6.09M
NOI $365,590 @ 7.0% cap · market cap 4.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
54,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,526
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34104, FL
25,485
Population
16,062
Households
1.6
Avg Household Size
53
Median Age
33%
College-Educated
91%
High-School Grad
9.9 sq mi
ZIP Area
2,574
Density / Sq Mi
$70,301
Median Household Income
$40,680
Median Earnings
$1,742
Median Rent
$348,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- CVS Pharmacy — 7380 Davis Blvd, Naples, FL 34104
- Lindsey Qualk — 7380 Davis Blvd, Naples, FL 341045374
- Olivia Gabbidon — 7380 Davis Blvd, Naples, FL 341045374
Frequently Asked Questions
What type of property is this?
Drug store - Long-running CVS lease on a highly visible signalized corner with scheduled rental increases every five years.
Where is this drug store located?
The property is located at 7380 Davis Boulevard Naples, FL.
What is the asking price?
The asking price for this property is $7,499,816.
What are key features of this property?
This property features: CVS property at 7380 Davis Boulevard in Naples, Florida, with a long operating history at the location for over 15 years; Lease includes 5‑year rental increases of ±5%; Highly visible signalized hard‑corner location with exposure to more than 54,000 vehicles per day
