15843 Fl-40Silver Springs, FL 34488

Property Details for 15843 Fl-40

Year built

2010

Lot size

2.01 AC

Property size (Sq ft)

11,982 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a single-tenant, net-leased CVS Pharmacy in Silver Springs, Florida. The property boasts a strong 6.50% cap rate and a substantial remaining lease term of 11.2 years, extending to January 31, 2036, with ten 5-year renewal options. The 11,982 square-foot building, constructed in 2010, sits on a 2.01-acre lot and enjoys a prime location on East Highway 40, a major thoroughfare with over 12,500 vehicles per day. The property benefits from a highly visible location near other established businesses including Winn-Dixie, Dollar Tree, Regions Bank, and more. The strong tenant, CVS Pharmacy, is an investment-grade rated company (S&P: BBB) providing a corporate guarantee and demonstrating a long-standing commitment to the site since 2010. The property's location within a 7-mile radius of 12,396 residents with an average household income of $55,233 further enhances its appeal. The absolute NNN lease structure eliminates landlord responsibilities, and the property is situated in the tax-free state of Florida. The asking price is $5,332,385, translating to a price per square foot of $445.03. This is a compelling investment opportunity offering a stable income stream and significant long-term potential. The property's features include a drive-thru and proximity to the Marion County Sheriff’s Department and Fire & Rescue Station. Rent bumps are detailed in the offering memorandum.

Location Insight

City

Silver Springs

County

Marion

State

Florida

Latitude

29.1841

Longitude

-81.8905

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