1765 Gulf To Bay Blvd - Drug Store FOR SALE


Clearwater, FL 33755- South Clearwater
$8,938,071 USD
813-697-1255
1765 Gulf To Bay Blvd, Clearwater, FL for Sale
$8,938,071 USD
Drug Store - FOR SALE
1/8
null | 7% Cap Rate

1765 Gulf To Bay Blvd
Clearwater, FL 33755
South Clearwater


HIGHLIGHTS

  • Long Term Lease
  • Rare Rent Bumps
  • Investment Grade Credit
  • Zero Landlord Responsibilities
  • Strategic Retail Location
  • Outstanding Traffic Counts

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the single-tenant, triple-net leased CVS (subleased to Dollar Tree) located at 1765 Gulf to Bay Boulevard (FL Route 60) in Clearwater, Florida (the “Property”). CVS has been at the Property since its construction in 2007 and has 6+ years remaining on their lease with five (5), 5-year renewal options. The CVS lease calls for 5% increases at the start of each of their renewal options. The Property occupies a highly strategic position along Gulf to Bay Boulevard (FL Route 60), the primary east-west route connecting Clearwater’s beaches and downtown with US 19 and the greater Tampa Bay area, while US 19 provides major north-south connectivity throughout Pinellas County. The Property is also immediately adjacent to Clearwater High School, which serves approximately 1,600 students and creates a significant nearby concentration of students, faculty, staff and daily traffic. The immediate trade area is supported by a dense mix of residential neighborhoods, retail, restaurants, hospitality and service businesses. The surrounding area benefits from proximity to Clearwater Mall, St. Petersburg College’s Clearwater Campus (with more than 14,000 students), BayCare Morton Plant Hospital (a 599-bed regional medical center and one of West Central Florida’s largest private employers), major retailers and numerous medical and professional-service businesses. The combination of strong Gulf to Bay Boulevard exposure, immediate proximity to Clearwater High School, access to major transportation corridors, nearby educational and healthcare institutions, and proximity to Clearwater’s renowned beaches creates a compelling location for commercial investment.

FOR SALE DETAILS

PRICE

$8,938,071 USD

PRICE/SF

$693 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CVS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2007

SPRINKLERS

-

PARKING SPACES

71

LAND DETAILS

LAND ACRES

1.66 AC

LAND SF

72,440 SF

ZONING

C, Clearwater

APN/PARCEL ID

14-29-15-85950-001-0030

ASK ABOUT THIS PROPERTY

Chris KingHorvath & TremblayMore Info
813-697-1255

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Chris KingHorvath & TremblayMore Info
813-697-1255

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.