15843 Fl-40, Silver Springs, FL 34488
- Retail properties & Spaces
- 11,982 SF
- 2.01 lot acres
Current Use by Public Records
- Retail properties & Spaces
Property Details for 15843 Fl-40
- Year built
- 2010
- Lot size
- 2.01 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Drug stores
Description
This exceptional investment opportunity presents a single-tenant, net-leased CVS Pharmacy in Silver Springs, Florida. The property boasts a strong 6.50% cap rate and a substantial remaining lease term of 11.2 years, extending to January 31, 2036, with ten 5-year renewal options. The 11,982 square-foot building, constructed in 2010, sits on a 2.01-acre lot and enjoys a prime location on East Highway 40, a major thoroughfare with over 12,500 vehicles per day. The property benefits from a highly visible location near other established businesses including Winn-Dixie, Dollar Tree, Regions Bank, and more. The strong tenant, CVS Pharmacy, is an investment-grade rated company (S&P: BBB) providing a corporate guarantee and demonstrating a long-standing commitment to the site since 2010. The property's location within a 7-mile radius of 12,396 residents with an average household income of $55,233 further enhances its appeal. The absolute NNN lease structure eliminates landlord responsibilities, and the property is situated in the tax-free state of Florida. The asking price is $5,332,385, translating to a price per square foot of $445.03. This is a compelling investment opportunity offering a stable income stream and significant long-term potential. The property's features include a drive-thru and proximity to the Marion County Sheriff’s Department and Fire & Rescue Station. Rent bumps are detailed in the offering memorandum.
Value Estimations
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Silver Springs
- County
- Marion
- State
- Florida
- Longitude
- -81.8905
- Latitude
- 29.1841
