CVS Pharmacy – Bradenton, FL

CVS Pharmacy – Bradenton, FL

CVS Pharmacy – Bradenton, FL
520 1st Street West
Bradenton, FL 34208

$4,745,000

Cap Rate 5.75%
Gross Leasable Area (GLA) 11,200
Price Per Square Foot (GLA) $426.56
Year Built 2003
Lot Size 1.21 Acres
  • Triple-Net Lease
  • No Management Responsibilities
  • Located 2 Blocks from Manatee Memorial Hospital
  • Average Daily Traffic of More Than 59,000 Vehicles
  • Rent Increases in Option Periods
  • No State Income Tax
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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 Pharmacy – Bradenton, 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 announce the sale of this freestanding CVS Pharmacy located in Bradenton, FL. The property is subject to a triple-net lease guaranteed by CVS Corporation. With over eight and a half years remaining on the lease term and rent increases built into the four, five-year options, this drug store provides an ideal long term passive investment.

Located on the main intersection of US 301 and State Road 64, this CVS benefits from a traffic count of over 59,000 vehicles per day. The strategic location of the subject property less than two blocks away from Manatee Memorial Hospital, the largest medical center in Bradenton, speaks to the long term viability of this investment. Manatee Memorial has served the Manatee County community for over 60 years. The 319-bed acute care facility is owned and operated by a subsidiary of Universal Health Services, Inc., one of the largest and most highly respected hospital management companies in the country. The nearest CVS Pharmacy to the subject property is more than 2.4 miles away, while the nearest Walgreens is more than 2.6 miles away.

For More Information, Please Contact:

James Medefind

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