CVS - Fort Pierce, FL_Property for Sale
CVS - Fort Pierce, FL_Property for Sale
4999 South US Highway 1, Fort Pierce, FL, 34982, US

CVS - Fort Pierce, FL

Asset description

JLL is pleased to exclusively offer for sale the fee-simple interest in a long-term leased CVS located in Fort Pierce, FL (the Property or the “Asset”). The Property is favorably positioned on the hard corner of Hwy 1 and W Midway Rd with ample exposure to 80,000+ VPD. The Asset is situated within a Winn-Dixie anchored retail center which attracts more than 1.5M visitors. The surrounding 5-mile area has experienced population growth of nearly 20% since 2010 and has been bolstered by economic development which includes King’s Landing, a future mixed-use development comprising 200+ residential units, a 140-key hotel and 50,000+ square feet of restaurant and retail space located near the Asset. Fort Pierce’s coastline location between two of the most affluent communities in the region, Vero Beach and Jupiter, will continue to attract for residents, businesses, and developers as Florida’s population surge continues.

CVS (the “Tenant”), a BBB rated S&P 100 company, is operating on a 25-year net lease with over 11 years of remaining term and minimal landlord responsibilities. This offering presents a passive income opportunity for investors seeking long-term cash flow backed by market-leading tenancy in a growth region with strong real estate fundamentals.

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Attributes

Building area net
14,125 sf
Occupancy
100%
Year built
2010
Land area gross
1.63 acres
WAULT
11.4 years

Media

Investment highlights

  • Booming Florida coastline city directly between Jupiter and Vero Beach
  • The 5-mile radius has experienced a 20% population growth since 2010
  • Hard-corner on US Hwy 1 with exposure to more than 80,000 VPD
  • Out-pad of Wynn-Dixie anchored retail center
  • 11.4-years of guaranteed remaining term
  • Guaranteed by CVS Corporation (S&P: BBB)
CVS - Fort Pierce, FL 4_Property for Sale

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CVS - Fort Pierce, FL (0 Properties)

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Last updated
Jul 10, 2024