1596 Highway A1A
Satellite Beach, FL 32937

CBRE IS PLEASED TO EXCLUSIVELY PRESENT FOR SALE THIS CVS PROPERTY located at the signalized corner of Highway A1A and Desoto Parkway in Satellite Beach, Florida. CVS has been successfully operating at this location since 2000 and recently recommitted to this site via a new 20-year corporately guaranteed lease extension. This NNN lease has minimal landlord responsibilities or expenses, with five, five year options to renew with five percent rental increases in each option period. The lease is corporately guaranteed by CVS, and investment grade credit tenant rated BBB+ by Standard & Poor's. CVS has little to no competition within a 1 mile radius, and has well-above average reported sales in this established location. This store's healthy rent to sales ratio, coupled with a low cost of occupancy make this a very profitable location for CVS. This 12,465 square foot CVS was built in 2000/renovated in 2009, and sits on a large 1.39 acre parcel. CVS has excellent access and visibility with two points of ingress/egress and over 23,000 vehicles passing by daily. This is an irreplaceable location situated at the signalized corner of Highway A1A and Desoto Parkway, one block off of the beach. The area boasts excellent demographics with strong population density and average household income, despite half the catchment being in the ocean. Situated in Satellite Beach, Florida this is a highly sought after area partly due to no state income tax.