7405 Starkey Rd - Drug Store FOR SALE


Seminole, FL 33777- Bardmoor
$3,879,000 USD
727-421-4377
7405 Starkey Rd, Seminole, FL for Sale
$3,879,000 USD
Drug Store - FOR SALE
1/7
null | 6% Cap Rate

7405 Starkey Rd
Seminole, FL 33777
Bardmoor


HIGHLIGHTS

  • Exceptional in-store sales with 32% growth from April 2020 to April 2024, underscoring the store’s strong market position and operational importance.
  • Positioned at the high-traffic intersection of Park Boulevard and Starkey Road, which carries over 80,000 cars per day.
  • Surrounded by densely populated residential neighborhoods and national retailers, including Sam’s Club, Publix, Walmart Neighborhood Market, and more.
  • CVS is operating on a Triple Net Lease with no landlord responsibilities, providing predictable, passive income.
  • Leased to CVS Health Corporation (NYSE: CVS)-a Fortune 500 company and one of the largest pharmacy chains in the U.S., credit-backed stability.
  • Limited availability of comparable sites in the immediate trade area enhances the long-term value of the real estate.

OVERVIEW

Colliers is pleased to present for a rare opportunity to acquire a single-tenant net lease property occupied by a high-performing CVS Pharmacy located at 7405 Starkey Road, Seminole, FL. Strategically positioned at the signalized intersection of Park Boulevard and Starkey Road, this site offers premium visibility and accessibility in one of the most trafficked corridors of Pinellas County. This 11,200 SF freestanding CVS sits on a prime retail parcel and boasts exceptionally high-volume store sales, with revenue growth of 32% from April 2020 through April 2024 - a testament to the strength and stability of this location. The consistent year-over-year sales increases underscore the critical nature of this store within CVS’s national footprint. The tenant currently operates under a Triple Net (NNN) lease at a market rental rate of $20.78 per square foot, with 2.2 years remaining on the primary lease term. Additionally, CVS holds two (2) remaining five-year renewal options, offering long-term flexibility and continued value potential for the next investor. This offering represents an exceptional opportunity to acquire a top-tier net lease asset with outstanding fundamentals, a history of performance, and significant upside potential through future lease renegotiation or repositioning.

FOR SALE DETAILS

PRICE

$3,879,000 USD

PRICE/SF

$356 USD /SF

CAP RATE

6%

% 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

1997

SPRINKLERS

-

PARKING SPACES

47

LAND DETAILS

LAND ACRES

1.23 AC

LAND SF

53,579 SF

ZONING

-

APN/PARCEL ID

25-30-15-66295-001-0010

ASK ABOUT THIS PROPERTY

Michael MilanoColliersMore Info
727-421-4377

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Michael MilanoColliersMore Info
727-421-4377

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