255 S State Road 7 Blvd - Drug Store FOR SALE


Margate, FL 33068
$5,000,329 USD
786-522-7013
255 S State Road 7 Blvd, Margate, FL for Sale
$5,000,329 USD
Drug Store - FOR SALE
1/5
null | 7.58% Cap Rate

255 S State Road 7 Blvd
Margate, FL 33068


OVERVIEW

Marcus & Millichap is pleased to present for sale this Absolute Net Leased CVS Pharmacy located at 255 S. State Road in Margate, Florida. The subject property consists of free-standing building comprised of 11,169 square feet of retail space and is situated on a .92-acre parcel of land. Margate is a city in Broward County, Florida with a population over 58,712 and part of the Miami-Metropolitan Area which was home to over 6,166,488 people in 2020. Margate is home to Calypso Cove Waterpark and The Carolina Golf Club and Oriole Golf and Tennis Club. Numerous apartment complexes surround this CVS property including Cross Creek Apartments with 336 Rented Units, Legacy Lakeview Apartments with 152 Rented Units, Vista Verde, The Palms Apartments, ARIUM Coconut Creek and ARIUM Lakeside among many, many others. The area around this CVS Pharmacy Store is booming with many brandnew home communities including The Enclave by Pulte Homes with 125 brand new homesites, Oak Tree by Pulte Homes with over 400 Homesites for single family homes as well as townhouses, Madison Place by D.R. Horton with 108 brand new homesites for building and Cassia Estates by Pulte Homes with 84 homesites. Nearby this CVS is HCA Florida Northwest Hospital which is a 289-bed hospital providing high quality health care services to Margate, Coconut Creek, Coral Springs and Parkland for more than 30 years. Colleges nearby this CVS property include Broward College with 33,243 students, Atlantic Technical College with 649 students and American College of Health. CVS is an American Retail Corporation, a subsidiary of CVS Health headquartered in Woodsocket, Rhode Island. It is also known as and originally named The Consumer Value Store and was founded in Lowell, Massachusetts in 1963. CVS has over 9,967 locations, 203,000 employees and Revenue of US $134.128 Billion in 2018. CVS sells prescription drugs and a wide assortment of general merchandise, including over-the-counter drugs, beauty products, cosmetics, film and photos finishing services, seasonal merchandise and convenience foods.

FOR SALE DETAILS

PRICE

$5,000,329 USD

PRICE/SF

$448 USD /SF

CAP RATE

7.58%

% 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

2002

SPRINKLERS

-

PARKING SPACES

75

LAND DETAILS

LAND ACRES

1.6 AC

LAND SF

69,696 SF

ZONING

B-3

APN/PARCEL ID

49-41-01-01-0011,49-41-01-24-0010

ASK ABOUT THIS PROPERTY

Ronnie IssenbergMarcus & MillichapMore Info
786-522-7013

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Ronnie IssenbergMarcus & MillichapMore Info
786-522-7013

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