NNN CVS Pharmacy Ground Lease

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Property Status
 Available
Property Type
Retail Single Tenant
State
 FL
City
 Ft. Myers
Sale Price
 $ 5,650,000
Cap Rate
 6.35%
NOI
$ 357,717
Lease Term (Years)
 25
Lease Type
 NNN
Landlord Responsibilities
None - Absolute NNN Lease
Guarantor
CVS Corporation
Credit Rating
 S&P Rated BBB+
Net Worth
 $9.92 Billion
Tenant Information
 CVS/Caremark (formerly CVS) interprets the scrawl of more US doctors than anyone. The CVS pharmacy chain fills more prescriptions at more drugstores than any other drugstore operator, although it trails rival Walgreen in total sales. Following its acquisitions of the Eckerd chain and stores from Albertsons, CVS operates approximately 6,200 stores in 38 states. More recently, CVS purchased prescription benefits management (PBM) firm Caremark Rx for about $26.5 billion. Caremark was combined with CVS's PBM and specialty pharmacy subsidiary PharmaCare Management Services, which offered managed-care drug programs to insurers, employers, and other healthcare plan providers, to form Caremark Pharmacy Services.
Tenant Web Site
 http://www.cvs.com
Ticker Symbol
CVS
Rent Adjustments
Years 1-25: $357,717
Lease Renewal Options
(6) 5-Year Options with 5% increases each option period
Rent Commencement
May 2008
 
Building Size
 13,000 ± SF
Land Area
 1.63± Acres
Year Built
 2008
Price per Square Foot
 $ 443.68
Rent per Square Foot
 $ 27.73
   
Property Description
Brand new 25 Year NNN CVS investment property located in Ft. Myers, FL. Great location at a signalized hard corner across from a new Publix Shopping Center and a new Walgreens. CVS is one of the most highly sought after investment grade tenants with annual sales exceeding $76B a net worth of $31B. This investment opportunity is ideal for a 1031 exchange investor seeking long term secure/stable cash flow with no management obligations.
For more information on this property, please contact:
Contact:
Direct:
Office:
Email:
Website:
Derrick Schroeder
954-296-6955
954-492-5088
Dschroe@gmail.com
www.SolidInvestmentsFL.com
 The Solid Investments Group of Realty Associates Florida Properties
3089 E. Commercial Blvd. Ft. Lauderdale, FL 33308

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