AMG Realty and The Boulder Group are pleased to exclusively market for sale a single tenant net leased CVS property located in Ocala, Florida. The property is strategically positioned at a signalized intersection along US Highway 441 which is the primary north-south thoroughfare in the area. CVS has successfully operated at this location since 2005 and has 15 years remaining on their primary lease term. CVS is an investment grade rated company (S&P: BBB+) and is publicly traded (NYSE: CVS) with a market capitalization in excess of $113 billion.
The CVS property is strategically positioned at the signalized intersection of US Highway 441 and NW 35th Street. US Highway 441 is the primary north-south thoroughfare in the trade area. There are over 71,000 people living within a five mile radius of the property. The CVS is benefitted by its location across the street from a Winn-Dixie grocery anchored shopping center. Additional retailers located in the immediate trade area include McDonald’s, Taco Bell, Wendy’s, Walgreens, Burger King, Kangaroo Express and Shell. The College of Central Florida, which has a total enrollment in excess of 18,000 students, is located approximately five miles south of the property. Florida is an income tax free state.
There are 15 years remaining on the CVS lease that expires January 31, 2031. The CVS lease features ten 5-year renewal option periods. CVS is publicly traded with a market capitalization in excess of $113 billion and is an investment grade rated tenant with a Standard & Poor’s rating of BBB+. CVS operates 7,700 locations in 42 states across the country.