327 NE Us Hwy 19 - Drug Store FOR SALE


Crystal River, FL 34428
$5,479,167 USD
954-881-9580
327 NE Us Hwy 19, Crystal River, FL for Sale
$5,479,167 USD
Drug Store - FOR SALE
1/6
null | Request Cap Rate

327 NE Us Hwy 19
Crystal River, FL 34428


HIGHLIGHTS

  • Investment-grade CVS tenancy with S&P BBB rating, offering long-term stability under an absolute NNN lease structure.
  • Lease term extended through January 2029, delivering reliable passive income with contractual rental increases.
  • Recent capital investment in 2024 includes pharmacy expansion, ADA upgrades, sidewalk enhancements, and full site modernization.
  • Prime hard-corner location at a signalized intersection with approximately 62,000 vehicles per day, maximizing visibility and accessibility.
  • Positioned within Crystal River’s leading retail and healthcare corridor, surrounded by top national brands like Wawa, Walgreens, McDonald’s, and Bank
  • Strong land value and long-term redevelopment upside supported by regional growth trends, tourism, and ongoing infrastructure investments.

OVERVIEW

The eXp Commercial team is pleased to present this exceptional absolute NNN leased CVS Pharmacy located at the signalized hard corner intersection of U.S. Highway 19 and State Road 44 in Crystal River, Florida. CVS has successfully operated at this location for more than 20 years and recently exercised a five-year lease renewal option extending the current lease term through January 2029, demonstrating continued long-term commitment to the site and market. Recent operating reports indicate approximately $12.6 million in annual net sales, reinforcing the location's strong operating performance and strategic importance within CVS's national store network. The property consists of an approximately 10,908-square-foot freestanding retail building situated on approximately 1.79 acres within one of Crystal River's highest-trafficked commercial corridors. The intersection benefits from exposure to approximately 62,000 vehicles per day and serves as a primary retail, healthcare, and commuter corridor throughout Citrus County. Following the lease renewal, CVS completed significant capital improvements during 2024, including pharmacy expansion, ADA accessibility upgrades, pedestrian connectivity enhancements, sidewalk improvements, and additional site modernization efforts. These investments further demonstrate the tenant's long-term commitment to the location and confidence in the continued growth of the Crystal River market. The asset offers investors stable passive income backed by an investment-grade tenant, minimal landlord responsibilities under the absolute NNN lease structure, and long-term upside supported by population growth, infrastructure investment, tourism demand, and continued commercial development throughout Florida's Nature Coast region.

FOR SALE DETAILS

PRICE

$5,479,167 USD

PRICE/SF

$502 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CVS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1999

SPRINKLERS

-

PARKING SPACES

73

LAND DETAILS

LAND ACRES

1.79 AC

LAND SF

77,972 SF

ZONING

CH

APN/PARCEL ID

17E-18S-21-0140-00000-0010

ASK ABOUT THIS PROPERTY

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954-881-9580

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Mercedes MartineXp CommercialMore Info
954-881-9580

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