Highlights
• Frontage 310’ on NW 199th St
Description
Current Real Estate Advisors is pleased to present an exceptional investment opportunity to acquire CVS – Miami Gardens (the “Property”), a ±15,114 SF freestanding, single-tenant asset strategically positioned on a 67,724 SF (1.55-acre) parcel in the core of the Miami MSA. Leased to CVS Pharmacy (NYSE: CVS) – the leading pharmacy brand in the U.S. – the Property offers the security of an Absolute NNN lease with no landlord responsibilities. Approximately 5.75 years remain on the initial lease term, complemented by 10, 5-year renewal options, ensuring long-term stability. The property is a build-to-suit location for CVS, constructed in 2006, with strong historical tenancy and exceptional performance at this location.
Listing Details
- Cap Rate
6.05%
- Tenancy
Single
- Space Type
Retail
- Sub Category
Drug Store/Pharmacy
- Sale Type
Investment Sale
- Date Listed
5/9/2025
- Net Operating Income
$368,478
- Parking Info
68 Spaces (4.5 Spaces per 1,000 SF Leased)
- Building FAR
0.22
Property Specifics
- Property Name
CVS | 3700 NW 199th St
- Property Class
C
- No of Buildings
1
- No of Stories
1
- Year Built
2006
- Building Size
15,114 SF
- Lot Size
1.55 Ac
- APN
34-2105-023-0010
- Zoning
NC District - Neighborhood Commercial (NC) District