255 State Rd 7 Margate, FL 33068
Property Features for 255 State Rd 7
General Information
- Property type
- Individual retail properties
- Square Feet
- 11,169 SF
- Lot Size
- 40,075 SF
Building Details
- Year Built
- 2002
- Buildings
- 1
- Stories
- 1
- Units
- 1
Listing Agency: Marcus & Millichap | Miami Listing Agent: Gabriel Britti
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional investment opportunity presents a free-standing, 11,169-square-foot CVS Pharmacy in Margate, Florida, within the Miami MSA. The property sits on a 0.92-acre lot and benefits from a 25.5-year absolute NNN lease with a corporate guarantee from CVS Health Corporation, rated BBB+ by S&P. The lease commenced July 25, 2002, and has a remaining term of approximately 3.2 years, with 10 option periods. The property boasts a 7.58% cap rate and a strong NOI of $379,025, with a current asking price of $5,000,329 ($447.70/sq ft). Built in 2002, this single-story building enjoys 100% occupancy and benefits from a prime location on a hard-signalized corner with high visibility. The surrounding area features significant residential growth, including numerous apartment complexes and new home communities, along with proximity to HCA Florida Northwest Hospital and Broward College. This offering provides a secure, passive income stream in a thriving market with zero landlord responsibilities, making it an ideal addition to any investment portfolio. The property is located at 255 S State Rd 7, Margate, FL 33068. The strong demographics of the area, including a population of over 58,712 in Margate and over 6 million in the Miami Metropolitan Area, further enhance the investment potential. The property offers fee simple ownership, allowing for depreciation benefits. Florida's no-income-tax status adds to the overall attractiveness of this investment.
Property Profile
Location Intelligence
Current Use by Public Records
Drug stores
Location Insight
- Map
- Local Demand
- City
- Margate
- County
- Broward
- State
- Florida
- Longitude
- -80.2054811
- Latitude
- 26.2276863
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FAQs
What type of property is this?
Individual retail property - High-yield, low-risk CVS investment.
Where is this individual retail property located?
The property is located at 255 State Rd 7 Margate, FL.
What is the asking price?
The asking price for this property is $5,000,329.
What are key features of this property?
This property features: 11,169 SF CVS Pharmacy on a 0.92-acre lot in Margate, FL (Miami MSA).; Absolute NNN lease with CVS Health Corporation (BBB+ S&P rating), corporate guarantee, ~3.2 years remaining, 10 option periods.; 7.58% cap rate, $379,025 NOI, $5,000,329 asking price ($447.70/SF).