CVS Ground Lease – Hawthorne, FL

CVS Ground Lease – Hawthorne, FL

CVS Ground Lease – Hawthorne, FL
900 U.S. Highway 301
Hawthorne, FL 32640

$940,000.00

Cap Rate 5.00%
Gross Leasable Area (GLA) 12,082
Price Per Square Foot (GLA) $77.80
Year Built 2006
Lot Size 1.50 acre
  • Main and Main Location
  • 17.5 Years Initial Term Remaining
  • Closest Competitor is 15 Miles Away
  • Low Price Point - Under $1,000,000
  • No Landlord Responsibilities
  • CVS Corp Guarantee - S & P Rated BBB+
Agree Cancel

Confidentiality and Buyer Registration Agreement

Marcus & Millichap Real Estate Investment Brokerage Company (“Broker”) has been asked to serve in the capacity of exclusive agent for the (“Seller”) regarding the potential sale of the properties known as: CVS Ground Lease – Hawthorne, FL (the "Property").

To receive financials and other vital data please read, sign and return this completed Confidentiality Agreement to Broker. The property information has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information that prospective Buyers may need or desire. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied on as a promise or representation as to the future performance of the property.

By accepting the financial reports and market data, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney’s fees, collectively “Claims”) arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents.

Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, reasonable attorney’s fees and court costs which James Medefind or Marcus & Millichap REIS may be incurred with respect to any claims for other real estate commissions, broker’s fees or finder’s fees in relation to or in connection with the Property to the extent claimed, through or under Seller.

The Financial Reports and market data, except such information that is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the property information, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the information or any of the contents to any other entity (except to outside advisors retained by you, if necessary for you determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the information or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker.

No employee of Seller or at the subject property is to be contacted without the written approval of the agent and doing so would be a violation of this confidentiality agreement.

Marcus & Millichap is pleased to offer for sale, a fee simple interest in this CVS Ground Lease located in Hawthorne, Florida, which is approximately 20 minutes from Gainesville, home to the University of Florida.

Commencing in 2006, this offering includes approximately a 1.50 acre outparcel to a SuperValu and Family Dollar anchored shopping center near the intersection of U.S. 301 and State Road 20. This CVS location is the go-to pharmacy for Hawthorne, with the closest competing pharmacy located 15 miles to the west in the city of Gainesville.

Guaranteed by CVS Corp. (S&P: BBB+), this 25-year ground lease has approximately 17.5 years remaining on the initial term. There are five percent increases at the beginning of each of the nine, five-year renewal periods.

 

For More Information, Please Contact:

James Medefind

Senior Associate
813-387-4788
james.Medefind@marcusmillichap.com