7430 SW Archer Rd - Drug Store FOR SALE


Gainesville, FL 32608
$7,703,000 USD
312-279-5342
7430 SW Archer Rd, Gainesville, FL for Sale
$7,703,000 USD
Drug Store - FOR SALE
1/10
null | 6.25% Cap Rate

7430 SW Archer Rd
Gainesville, FL 32608


HIGHLIGHTS

  • 10+ Years Remaining | Corporate Guaranteed | Investment Grade (S&P: BBB)
  • NNN Leased | Leased Fee Ownership | Limited Landlord Responsibilities
  • Located Along SW Archer Road | Drive-Thru Equipped | Excellent Visibility & Access
  • Directly Across to Town Square | University of Florida (56,000+ Students)
  • Apartment Units Within Walking Distance (670+) | Direct Residential Consumer Base
  • Strong Demographics in 5-Mile Trade Area

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in a NNN leased, investment grade (S&P: BBB), corporate guaranteed, drive-thru equipped, CVS Pharmacy investment property located in Gainesville, Florida. The tenant has over 10 years remaining in their initial term with 6 (5-year) option periods to extend, demonstrating their long-term commitment to the site. The lease is guaranteed by the corporate entity (S&P: BBB) and is NNN with limited landlord responsibilities making it an ideal, low-management investment for a passive investor. Founded in 1963, CVS Pharmacy now operates over 9,200 stores and has become the largest drugstore chain in the United States. The CVS Pharmacy is strategically positioned near the signalized, hard corner intersection SW Archer Road and SW 75th Street, averaging 30,200 vehicles passing by daily. The building is outfitted with a drive-thru pharmacy, providing ease and convenience for customers. On average, stores with drive-thrus experience higher sales than those without. The site is equipped with a large monument sign, creating excellent visibility along SW Archer Road. The asset is directly across to Town Square, a 68,300 SF shopping center anchored by Publix Super Market. Town Square increases consumer draw to the immediate trade area and promotes crossover store exposure for CVS Pharmacy. Additionally, the property is 5 miles southwest of the University of Florida, a 2,000-acre campus containing 150 research centers and over 56,000 students, making it the eighth largest single-campus university in the United States. Moreover, the site is within walking distance to several apartment complexes including Park Lane Apartments (225 units), Asbury Park Apartments (206 Units), and The Mayfair Apartments (243 units), providing a direct consumer base from which to draw from. The 5-mile trade area is supported by more than 98,300 residents and 38,000 daytime employees. Residents within 1 mile of the property boast a healthy average household income of over $133,187.

FOR SALE DETAILS

PRICE

$7,703,000 USD

PRICE/SF

$597 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

CVS | Corp NNN GL w/ 10.5 Yrs

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2009

SPRINKLERS

-

PARKING SPACES

64

LAND DETAILS

LAND ACRES

1.69 AC

LAND SF

73,616 SF

ZONING

PD

APN/PARCEL ID

06861-007-000

ASK ABOUT THIS PROPERTY

Dan ElliotSRS National Net Lease GroupMore Info
312-279-5342

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Dan ElliotSRS National Net Lease GroupMore Info
312-279-5342

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