Swc Of Collins Avenue & SW 41st Street - Drug Store FOR SALE
Miami Beach, FL 33140 |
Swc Of Collins Avenue & SW 41st Street
Miami Beach, FL 33140
HIGHLIGHTS
- IRREPLACEABLE TROPHY MIAMI BEACH LOCATION: Located one block from the beach on Collins Avenue, CVS is strategically located along 41st Street
- HIGH TRAFFIC SIGNILIZED INTERSECTION: CVS benefits from its visibility at the signalized intersection of Collins Avenue and 41st Street- 70,000 VPD
- LONG-TERM LEASE: Upon commencement, the CVS lease will feature 25 years of primary term plus nine, 5-year renewal options with 10% rent increases
- NEW CONSTRUCTION: The subject property is currently under construction with CVS scheduled to open for business in April of 2021
- INVESTMENT GRADE CREDIT: The Lease is fully guaranteed by CVS Health Corporation (NYSE: CVS). CVS Health ranked #5 on the 2020 Fortune 500 list
- EXCEPTIONAL DEMOGRAPHICS: Approximately 207,000 residents live within a 5-mile radius with an average household income of $121,000 in a 1-mile radius
FOR SALE DETAILS
PRICE
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CAP RATE
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% LEASED
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TENANCY
-
BUILDING DETAILS
PROPERTY NAME
CVS Miami Beach - Trophy Investment
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Drug Store
TOTAL BUILDING SIZE
8896
STORIES
1
YEAR BUILT
1948
SPRINKLERS
-
PARKING SPACES
12
LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
-
APN/PARCEL ID
02-3226-001-1930
