For Sale
$3,844,356

7431 Atlantic Blvd Jacksonville, FL 32211

High-Yield CVS Pharmacy, Absolute NNN Lease

Overview

Added:
Dec 11, 2024
Days on market:
136
This exceptional investment opportunity presents a single-tenant, freestanding CVS Pharmacy located at 7431 Atlantic Blvd, Jacksonville, FL 32211. The property boasts 11,010 square feet on a 1.38-acre lot, built in 2002. Currently operating under an absolute NNN lease with zero landlord responsibilities, the lease expires January 30, 2028, with ten 5-year renewal options. The property enjoys a 100% occupancy rate, generating a strong NOI of $259,494 and a 6.75% cap rate. The asking price is $3,844,356 ($349.17/sq ft). Situated on a signalized corner with excellent visibility, the property benefits from high traffic counts (66,000+ vehicles daily) and dense demographics (over 15,000 residents within one mile, 89,000+ within three miles). The strong tenant, CVS, holds a high credit rating (BBB with S&P and Baa1 with Moody's), making this a resilient, recession-resistant investment. Jacksonville's strong economic outlook, including projected population growth of +4.63% within a one-mile radius over the next five years, further enhances the property's value. Rent is prepaid through the remaining lease term; seller will provide credit at closing. This is a prime opportunity to acquire a stable, high-performing asset in a thriving market.

Highlights

  • Single-tenant, freestanding CVS Pharmacy in Jacksonville, FL.
  • Absolute NNN lease with zero landlord responsibilities.
  • Located in Florida, a state with no income tax.
  • Jacksonville MSA ranks #38 among the top 50 US MSAs.
  • High-density demographics: over 15,000 residents within one mile, 89,000+ within three miles, and significant daytime employment.
  • High-visibility corner lot with signalized intersection and high daily traffic counts.

Property Details for 7431 Atlantic Blvd

Property type
Retail properties, Drug stores
Square Feet
11,010 SF
Year Built
2002
Lot Size (sq. ft)
60,113 SF

Location Insight

City
Jacksonville
County
Duval
State
Florida
Latitude
30.3138218
Longitude
-81.579862

FAQs

What type of property is this?
Retail property - High-Yield CVS Pharmacy, Absolute NNN Lease
Where is the retail property located?
The property is located at 7431 Atlantic Blvd Jacksonville, FL.
What is the asking price?
The asking price for this property is $3,844,356.
What are key features of this property?
This property features: Single-tenant, freestanding CVS Pharmacy in Jacksonville, FL.; Absolute NNN lease with zero landlord responsibilities.; Located in Florida, a state with no income tax.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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7431 Atlantic Blvd
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