CVS | Corp NNN GL w/ 10.5 Yrs 7430 SW Archer Rd

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in a NNN leased, investment grade (S&P: BBB), corporate guaranteed, drive-thru equipped, CVS Pharmacy investment property located in Gainesville, Florida. The tenant has over 10 years remaining in their initial term with 6 (5-year) option periods to extend, demonstrating their long-term commitment to the site. The lease is guaranteed by the corporate entity (S&P: BBB) and is NNN with limited landlord responsibilities making it an ideal, low-management investment for a passive investor. Founded in 1963, CVS Pharmacy now operates over 9,200 stores and has become the largest drugstore chain in the United States.
The CVS Pharmacy is strategically positioned near the signalized, hard corner intersection SW Archer Road and SW 75th Street, averaging 30,200 vehicles passing by daily. The building is outfitted with a drive-thru pharmacy, providing ease and convenience for customers. On average, stores with drive-thrus experience higher sales than those without. The site is equipped with a large monument sign, creating excellent visibility along SW Archer Road. The asset is directly across to Town Square, a 68,300 SF shopping center anchored by Publix Super Market. Town Square increases consumer draw to the immediate trade area and promotes crossover store exposure for CVS Pharmacy. Additionally, the property is 5 miles southwest of the University of Florida, a 2,000-acre campus containing 150 research centers and over 56,000 students, making it the eighth largest single-campus university in the United States. Moreover, the site is within walking distance to several apartment complexes including Park Lane Apartments (225 units), Asbury Park Apartments (206 Units), and The Mayfair Apartments (243 units), providing a direct consumer base from which to draw from. The 5-mile trade area is supported by more than 98,300 residents and 38,000 daytime employees. Residents within 1 mile of the property boast a healthy average household income of over $133,187.