4145 NW 53rd Ave - Drug Store FOR SALE


Gainesville, FL 32653- Northwest Gainesville
$7,661,785 USD
619-297-0055
4145 NW 53rd Ave, Gainesville, FL for Sale
$7,661,785 USD
Drug Store - FOR SALE
1/3
null | 7% Cap Rate

4145 NW 53rd Ave
Gainesville, FL 32653
Northwest Gainesville


HIGHLIGHTS

  • This CVS lease has over 9 years guaranteed lease term before the tenant’s next option to renew.
  • The current lease runs through November 30, 2034, with a two-year rent holiday period at the end of the primary term.
  • Located in a high-income trade area with the average household income exceeding $102,000 within a 1 and 3-mile radius.
  • The lease includes ten (5-year) renewal options, with 5% rental increases at the first and second option and a 10.29% increase in 2029.
  • The property is positioned adjacent to HCA Florida Millhopper Emergency Center with several other medical facilities in the immediate surrounding area
  • CVS is positioned on a signalized corner surrounded by numerous complementary retail tenants, including the Hunters Crossing shopping center.

OVERVIEW

We are pleased to offer for sale the CVS Pharmacy property located at 4145 NW 53rd Avenue, Gainesville, FL 32653 (the "Property"). This asset offers a secure, passive investment opportunity backed by an absolute triple-net (NNN) lease with zero landlord responsibilities. CVS has operated at this location for over 16 years and has a firm remaining lease term through November 30, 2034. The lease includes ten (5-year) renewal options, with 5% rental increases at the first and second option periods and a 10.29% increase in 2029. The subject property benefits from a strong affluent population base with over 116,000 residents within a 5-mile radius and average household incomes exceeding $100,000 in the immediate 1-mile trade area. The immediate area benefits from strong healthcare anchors. Directly across from the Property is HCA Florida Millhopper Emergency Center and several medical offices, including Hunters Crossing Memory Care, Brooks Rehabilitation Home Health, and LCS Occupational Therapy. Additionally, the Property is adjacent to the Hunters Crossing retail center, anchored by Publix and Ace Hardware, along with Goodwill, H&R Block, and a mix of other national and local retailers. The Property is located approximately 5 miles north of the University of Florida, one of the nation's largest universities, with over 60,795 enrolled students and 32,000 faculty and staff. Santa Fe College, located 4.3 miles southwest, serves an additional 12,607 students. Listed in conjunction with Brian Brockman, Bang Realty - Naples, Inc, 513-898-1551, wg@bangrealty.com, FL DRE Lic. BK3327646.

FOR SALE DETAILS

PRICE

$7,661,785 USD

PRICE/SF

$566 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Abs NNN FL CVS | Dense Affluent Infill Area

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2009

SPRINKLERS

-

PARKING SPACES

55

LAND DETAILS

LAND ACRES

0.8 AC

LAND SF

34,848 SF

ZONING

MU1

APN/PARCEL ID

06070-010-002

ASK ABOUT THIS PROPERTY

Chris BarryPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

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Chris BarryPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

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