4 Brevard Ave Arcadia, FL 34266

Property Details for 4 Brevard Ave

Year built

2000

Lot size

1.56 lot acres

Property size

10,908 SF

Property type

Retail properties

Property subtype

Drug stores

Description

This exceptional investment opportunity features a 10,908 square foot CVS Pharmacy in Arcadia, Florida, operating under an absolute NNN lease with a corporate guarantee from CVS Health Corporation. The property boasts a strong 7.35% cap rate and a substantial NOI of $283,680. Situated on a 1.56-acre lot at a hard-signalized corner, this single-story building enjoys excellent visibility to over 26,300 vehicles daily. The lease, commencing January 12, 2001, has a remaining term of approximately 4.1 years, with four 5-year options. Rent bumps are equivalent to 2% of gross receipts. The property benefits from its location near numerous colleges, universities, apartment complexes, and new home developments, ensuring a robust customer base. The average household income within a 3-mile radius exceeds $50,573. This is a fee-simple ownership opportunity in a no-income-tax state, offering significant long-term investment potential. The property includes a drive-thru pharmacy, further enhancing its convenience and appeal. The CVS Pharmacy is located at 4 S Brevard Ave, Arcadia, FL 34266. This is a rare chance to acquire a well-established, high-performing retail asset backed by a creditworthy tenant with a long-term lease.

Location Insight

City

Arcadia

County

DeSoto

State

Florida

Longitude

-81.8598

Latitude

27.2145