Overview

Description

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, investment grade (S&P: BBB), corporate guaranteed, CVS Pharmacy investment property located in Jacksonville, FL. The tenant has over 15 years remaining in their initial term with 10 (5-year) options to extend, demonstrating their commitment to the site. The lease is corporate guaranteed by CVS Caremark Corporation and is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. CVS is the largest pharmacy chain in the United States with more than 9,900 stores across the United States and Puerto Rico.

CVS Pharmacy is strategically located at the signalized, hard corner intersection of San Juan Avenue and U.S. Highway 17, averaging a combined 64,100 vehicles passing by daily. The building is complete with a drive-thru pharmacy, providing ease and convenience for customers. The site is also equipped with a large monument sign, creating excellent visibility along both cross-streets. CVS Pharmacy is directly across from Ortega Park, a 312,912 SF Shopping Center anchored by Publix Super Market. Other nearby national/credit tenants include Walmart Supercenter, Wawa, Dollar Tree, Winn Dixie, LongHorn Steakhouse, Orangetheory Fitness, and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. Furthermore, the asset is within proximity to multiple apartment complexes including Riviera North (139 units), Oak Tree (162 units), RiverVUE (228 units), and more, providing a direct residential consumer base from which the site can draw. The 5-mile trade area is supported by 170,672 residents and 132,647 daytime employees with an average annual household income of
$69,225.

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