CVS Pharmacy – Sarasota, FL

CVS Pharmacy – Sarasota, FL

CVS Pharmacy – Sarasota, FL
4301 Bee Ridge Road
Sarasota, FL 34233

$6,150,000

Cap Rate 6.50%
Gross Leasable Area (GLA) 12,739
Price Per Square Foot (GLA) $482.77
Year Built 2000
Lot Size 1.64 Acres
  • Closest CVS is Over 2.5 Miles Away
  • Triple-Net Lease - No Management Responsibilities
  • Located at a Major Signalized Intersection
  • No State Income Tax
  • Rent Bumps in the Option Periods
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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 – Sarasota, 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 present this freestanding CVS Pharmacy located in Sarasota, Florida. The property is subject to a triple-net lease with over five-and-a-half years remaining on the lease term and rent increases built into the four- and five-year options.

Located at the lighted intersection of Bee Ridge Road and Mclntosh Road, this CVS benefits from a traffic count of over 37,500 cars per day. Other retailers located at this intersection include Winn Dixie, Amscot, H&R Block, Aaron’s, Pet Supermarket, Save-A-Lot, Mobil, Firehouse Subs, Tires Plus and Batteries Plus Bulbs.

Sarasota, Florida is known as one of the best places in the country to live, work, and raise a family. The business scene is healthy and growing, and the city has top-quality schools and an affordable cost of living. Its rolling white sand beaches on Florida’s Gulf Coast create an atmosphere of luxury in a friendly community. The city’s population is around 54,000, and there are a number of colleges in the area, including New College of Florida, Ringling School of Art and Design, the University of South Florida, Sarasota County Technical Institute, and Keiser College.

CVS Caremark (NYSE: CVS), headquartered in Woonsocket, Rhode Island, is the largest pharmacy health care provider in the United States with integrated offerings across the entire spectrum of pharmacy care. Through their unique suite of assets, CVS/pharmacy is reinventing pharmacy to offer innovative solutions that help people on their path to better health. They are focused on enhancing access to care, lowering overall health care costs for plan members and payors, and improving health outcomes.

For More Information, Please Contact:

James Medefind

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