CVS | 255 S State Road 7 Blvd
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CVS 255 S State Road 7 Blvd
11,169 SF Retail Building Margate, FL 33068 $7,087,816 CAD ($635 CAD/SF) 7.58% Cap Rate
Executive Summary
Marcus & Millichap is pleased to present for sale this Absolute Net Leased CVS Pharmacy located at 255 S. State Road in Margate, Florida. The subject property consists of free-standing building comprised of 11,169 square feet of retail space and is situated on a .92-acre parcel of land.
Margate is a city in Broward County, Florida with a population over 58,712 and part of the Miami-Metropolitan Area which was home to over 6,166,488 people in 2020. Margate is home to Calypso Cove Waterpark and The Carolina Golf Club and Oriole Golf and Tennis Club.
Numerous apartment complexes surround this CVS property including Cross Creek Apartments with 336 Rented Units, Legacy Lakeview Apartments with 152 Rented Units, Vista Verde, The Palms Apartments, ARIUM Coconut Creek and ARIUM Lakeside among many, many others.
The area around this CVS Pharmacy Store is booming with many brandnew home communities including The Enclave by Pulte Homes with 125 brand new homesites, Oak Tree by Pulte Homes with over 400 Homesites for single family homes as well as townhouses, Madison Place by D.R. Horton with 108 brand new homesites for building and Cassia Estates by Pulte Homes with 84 homesites.
Nearby this CVS is HCA Florida Northwest Hospital which is a 289-bed hospital providing high quality health care services to Margate, Coconut Creek, Coral Springs and Parkland for more than 30 years.
Colleges nearby this CVS property include Broward College with 33,243 students, Atlantic Technical College with 649 students and American College of Health.
CVS is an American Retail Corporation, a subsidiary of CVS Health headquartered in Woodsocket, Rhode Island. It is also known as and originally named The Consumer Value Store and was founded in Lowell, Massachusetts in 1963. CVS has over 9,967 locations, 203,000 employees and Revenue of US $134.128 Billion in 2018. CVS sells prescription drugs and a wide assortment of general merchandise, including over-the-counter drugs, beauty products, cosmetics, film and photos finishing services, seasonal merchandise and convenience foods.
Margate is a city in Broward County, Florida with a population over 58,712 and part of the Miami-Metropolitan Area which was home to over 6,166,488 people in 2020. Margate is home to Calypso Cove Waterpark and The Carolina Golf Club and Oriole Golf and Tennis Club.
Numerous apartment complexes surround this CVS property including Cross Creek Apartments with 336 Rented Units, Legacy Lakeview Apartments with 152 Rented Units, Vista Verde, The Palms Apartments, ARIUM Coconut Creek and ARIUM Lakeside among many, many others.
The area around this CVS Pharmacy Store is booming with many brandnew home communities including The Enclave by Pulte Homes with 125 brand new homesites, Oak Tree by Pulte Homes with over 400 Homesites for single family homes as well as townhouses, Madison Place by D.R. Horton with 108 brand new homesites for building and Cassia Estates by Pulte Homes with 84 homesites.
Nearby this CVS is HCA Florida Northwest Hospital which is a 289-bed hospital providing high quality health care services to Margate, Coconut Creek, Coral Springs and Parkland for more than 30 years.
Colleges nearby this CVS property include Broward College with 33,243 students, Atlantic Technical College with 649 students and American College of Health.
CVS is an American Retail Corporation, a subsidiary of CVS Health headquartered in Woodsocket, Rhode Island. It is also known as and originally named The Consumer Value Store and was founded in Lowell, Massachusetts in 1963. CVS has over 9,967 locations, 203,000 employees and Revenue of US $134.128 Billion in 2018. CVS sells prescription drugs and a wide assortment of general merchandise, including over-the-counter drugs, beauty products, cosmetics, film and photos finishing services, seasonal merchandise and convenience foods.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
11,169 SF
Building Class
B
Year Built
2002
Price
$7,087,816 CAD
Price Per SF
$635 CAD
Cap Rate
7.58%
NOI
$537,257 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
1.60 AC
Zoning
B-3 - Commercial Zoned Property
Parking
75 Spaces (6.37 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Dedicated Turn Lane
- Pylon Sign
- Drive Thru
Walk Score ®
Very Walkable (76)
Bike Score ®
Very Bikeable (71)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $3,231,562 CAD | |
| Land Assessment | $1,988,597 CAD | Total Assessment | $5,495,489 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,988,597 CAD
Improvements Assessment
$3,231,562 CAD
Total Assessment
$5,495,489 CAD
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CVS | 255 S State Road 7 Blvd
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