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    1037 Main St Bells Mill, FL 32428

    For Sale
    $3,457,007

    High-Yield CVS Pharmacy, 7-Year Lease

    Property size:
    13,225 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional investment opportunity presents a freestanding CVS Pharmacy located at the highly visible northeast corner of Main Street and South Boulevard in Chipley, Florida. The property boasts a substantial 13,225 square foot building constructed in 2010, situated on a 1.96-acre lot with ample parking (62 spaces). The property benefits from a strong location on US Highway 77 (Main Street), a major north-south route with a high daily traffic volume of 19,500 vehicles at the intersection with South Boulevard. The CVS Pharmacy, established in 2011, operates under a Net Net lease with seven years remaining, ensuring consistent income. The property features a modern design, including a convenient two-lane drive-thru. With 100% occupancy and a strong Net Operating Income (NOI) of $254,090, this offering presents a compelling 7.35% cap rate at an asking price of $3,457,007 ($261.40 per square foot). The property is zoned for commercial use and has an APN of 29-2N-25-3120-0063-0000. This is a rare opportunity to acquire a well-established, high-performing retail property in a growing Florida Panhandle community. The property is located in Washington County, a rapidly developing area along the I-10 corridor between Tallahassee and Pensacola.

    Property Features for 1037 Main St

    General Information

    Property type
    Individual retail properties
    Square Feet
    13,225 SF
    Lot Size
    85,378 SF

    Building Details

    Year Built
    2010
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Drug stores

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Bells Mill
    County
    Washington
    State
    Florida
    Longitude
    -85.56121
    Latitude
    30.6823987

    Nearby Comparable

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      Hwy 77 Commercial Land - Chipley, FL

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      13400 Hwy, Bells Mill, FL 32428
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    • $1,895,000

      Highway 77 Prime Development Land

      67+ Acres, Hwy Frontage, Natural Pond
      6384 Hwy, Bells Mill, FL 32428
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    • $695,000
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      Prime Commercial Land, Chipley, FL

      One-acre lot, $695,000, excellent location.
      0 Main St, Bells Mill, FL 32428
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    • New
      $75,000
      10.00 Acres

      10 Acres of Rural Land

      Quiet 10-acre tract perfect for homestead or recreational retreat.
      O Lonnie Rd, Chipley, FL 32428
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    Nearby Similar for Sale

    • $185,000

      Hwy 77 Commercial Land - Chipley, FL

      Prime Commercial Lot, High Traffic Area
      13400 Hwy, Bells Mill, FL 32428
      View Details

    FAQs

    What type of property is this?
    Individual retail property - High-Yield CVS Pharmacy, 7-Year Lease
    Where is this individual retail property located?
    The property is located at 1037 Main St Bells Mill, FL.
    What is the asking price?
    The asking price for this property is $3,457,007.
    (786) 210-2730
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    1037 Main St Bells Mill, FL 32428
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    Realmo Value Estimation

    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.

    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.

    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
    1037 Main St Bells Mill, FL 32428
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