6501 Caroline St - Drug Store FOR SALE


Milton, FL 32570
$3,454,545 USD
757-287-1490
6501 Caroline St, Milton, FL for Sale
$3,454,545 USD
Drug Store - FOR SALE
1/2
null | 5.5% Cap Rate

6501 Caroline St
Milton, FL 32570


HIGHLIGHTS

  • Investment grade credit tenant (S&P: BBB)
  • Signalized intersection location
  • New 15-year NNN Lease
  • No Landlord responsibilities
  • 24-hour store operation
  • Bonus income from billboard

OVERVIEW

SLN Capital Markets, a division of S.L. Nusbaum Realty Co. is pleased to present for sale the property leased to CVS, located at 6501 Caroline Street, Milton, FL 32570. CVS has been operating in this same location for twenty years and recently signed a new 15-year absolute NNN lease with six, 5-year options. The lease is corporately guaranteed by CVS Health Inc. The lease has a rare 10% bump in the middle of the term. he property sits at the top of the signalized intersection, adjacent to the Santa Rosa County government offices and directly across the street from the Six Flags Shopping Center anchored by Food Outlet, Bealls, Harbor Freight Tools and Planet Fitness. This CVS, a 24-hour store, has been updated to include both a MinuteClinic and HealthHub, an enhanced medical service that allows customers to meet with health care professionals and licensed therapists directly on site. Additional income from billboard. The property is available by Owner/Agent.

FOR SALE DETAILS

PRICE

$3,454,545 USD

PRICE/SF

$308 USD /SF

CAP RATE

5.5%

% 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

2000

SPRINKLERS

-

PARKING SPACES

56

LAND DETAILS

LAND ACRES

6.72 AC

LAND SF

292,723 SF

ZONING

C2

APN/PARCEL ID

04-1N-28-0000-10001-0000

ASK ABOUT THIS PROPERTY

Doug AronsonS.L. Nusbaum Realty Co.More Info
757-287-1490

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Doug AronsonS.L. Nusbaum Realty Co.More Info
757-287-1490

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