CVS Pharmacy

4475 San Juan Avenue, Jacksonville, FL 32210

$11,899,000

Cap Rate 5.25%

Views: 137 DOM: 795 Updated: 06.25.24 Posted: 10.18.22 Status: Active

Summary

Price $11,899,000	Built/Renov 2011	Tenant CVS Pharmacy
Cap Rate 5.25%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 15,143	Lease Start 12-01-2011	#Units 9,900
Price/SF $785.78	Expiration 01-01-2037	Tenant Type Pharmacy
NOI $624,684	R. Term 12.0	Ownership Fee Simple
Rent/SF $41.25	Increases 0.0%/5/yrs	Pop 5Mi 176,923
Lot/AC 1.42	Options 10/5yrs	AHHI 5Mi $78,430

Lease Highlights

The tenant has 12 years remaining in their initial term with 10 (5-year) options to extend
Options 1 and 2 will feature 90% of the current NOI - Fair Market Value rent at the beginning of each subsequent option
Tenant has a 20-Day Right of First Refusal
The lease is corporate guaranteed by CVS Caremark Corporation
CVS is the largest pharmacy chain in the United States with more than 9,900 stores across the United States and Puerto Rico

Location Description

CVS Pharmacy is strategically located at the signalized, hard corner intersection of San Juan Avenue and U.S. Highway 17, averaging a combined 64,100 vehicles passing by daily. CVS Pharmacy is directly across from Ortega Park, a 312,912 SF Shopping Center anchored by Publix Super Market. Other nearby national/credit tenants include Walmart Supercenter, Wawa, Dollar Tree, Winn Dixie, LongHorn...

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Key Features

Signalized intersection
Hard corner intersection
High traffic 50M+ VPD
Highway location
Strong tenant synergy
Income tax free state
Long 15+ yr lease
Absolute NNN
Traded and rated company
Investment grade tenant

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Links

CVS Wkipedia CVS Wikipedia Jacksonville, Florida Zip Code 32210 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: CVS Pharmacy
Guarantor:Corp T and Rated
Company:CVS Health Group
# Units:9,900
Tenant S&P: BBB
Moody’s: Baa1
Stock: NYSE: CVS

About Tenant

CVS Pharmacy, Inc. is an American retail corporation and is the largest pharmacy chain in the United States by number of locations and total prescription revenue. CVS sells prescription drugs...

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Demographics

	1 Miles	3 Miles	5 Miles
2027 Total Population :	8,526	77,843	182,009
2022 Total Population :	8,503	76,155	176,997
2022 Employed Civilian Pop :	4,626	38,828	85,718
2022 Total Businesses :	808	4,037	10,881
2022 Average Household Income :	$ 99,912	$ 82,783	$ 78,415
2022 Total Consumer Spending :	$ 331 M	$ 2395 M	$ 4972 M
2022 Median Age :	43	39	38
2022 Total Households :	3,883	33,470	73,252
2022 Pop Age 25+: Bachelor's Degree :	1,316	10,219	21,206
2022 Average Home Value :	$ 314,813	$ 309,646	$ 275,016

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
San Juan Ave	Roosevelt Blvd	2010	8,600	0.04 mi
San Juan Ave	Hamilton St	2010	18,600	0.10 mi
Hamilton St	Shirley Ave	2010	2,519	0.15 mi
San Juan Avenue	Fair St	2020	7,600	0.17 mi
San Juan Avenue	Jersey St	2020	17,700	0.21 mi
Blanding Blvd	Shirley Ave	2010	35,000	0.35 mi
Blanding Boulevard	Lexington Ave	2020	26,500	0.36 mi
St Johns Ave	Roosevelt Blvd	2010	5,191	0.39 mi
Roosevelt Blvd	Wabash Ave	2007	45,500	0.40 mi
Roosevelt Blvd	Woodmere St	2010	44,000	0.44 mi

Listing Broker

Matthew Mousavi

SRS National Net Lease Group

Contact

369 Listings
46350 Views
137 Sold

Patrick Luther

SRS National Net Lease Group

Contact

420 Listings
50777 Views
165 Sold

Matthew Mousavi

Matthew is the managing principal and co-founder of the SRS National Net Lease Group, based in Newport Beach, California. SRS’ is the exclusive net lease investment advisory platform across more than 25 offices nationally. SRS is the largest retail estate firm in North America exclusively focused on retail services, of which Matthew is a member of the board. The firm has a track record spanning over 30 years and billions in transaction volume, and represents over 400 retailers throughout the co

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Patrick Luther

Patrick joined SRS in 2016 with more than 10 years of transactional brokerage experience in the commercial real estate industry and over $1 billion in closed transactions, representing over 300 individual properties. Along with Matthew Mousavi, Patrick co-founded and leads the National Net Lease Group at SRS, the exclusive net lease capital markets platform within SRS, comprised of more than 75 professionals handling all net lease transactions for the firm nationally. He focuses on all types of

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