7431 Atlantic BlvdJacksonville, FL 32211

Property Details for 7431 Atlantic Blvd

Year built

2002

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.33 AC

Property size (Sq ft)

12,709 SF

Zone code

CCG-2

Property type

Retail properties

Property subtype

Drug stores

APN

145054-0000

APU

1450540000

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $2,829,159

  6.5%

  $2,611,531

  7%

  $2,424,993

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,178,134

  Geo Method

  $2,178,134

• Alternative Use

  Use

  Valuation

  Residential

  $2,202,924

  Hospitality

  $2,017,867

  Educational

  $1,678,842

  Medical

  $1,736,579

  Retail

  $2,611,531

Location Insight

City

Jacksonville

County

Duval

State

Florida

Latitude

30.3138

Longitude

-81.5797

CBSA code

27260

CBSA name

JACKSONVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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