CVS (dark) – Margate, FL

Issenberg & Britti Group of Surmount is pleased to present for sale this Dark CVS Pharmacy located at 255 S. State Road in Margate, Florida. The subject property consists of free-standing building comprised of 11,169 square feet of retail space and is situated on 1.6-acre parcels of land. CVS is responsible for all aspects of maintenance, taxes and insurance through January 31, 2028 giving a developer or end user the time to prepare the repositioning of the property while carrying costs are paid by CVS.
Margate is a city in Broward County, Florida with a population over 58,712 and part of the Miami-Metropolitan Area which was home to over 6,166,488 people in 2020. Margate is home to Calypso Cove Waterpark and The Carolina Golf Club and Oriole Golf and Tennis Club.
Numerous apartment complexes surround this CVS property including Cross Creek Apartments with 336 Rented Units, Legacy Lakeview Apartments with 152 Rented Units, Vista Verde, The Palms Apartments, ARIUM Coconut Creek and ARIUM Lakeside among many, many others.
The area around this CVS Pharmacy Store is booming with many brand-new home communities including The Enclave by Pulte Homes with 125 brand new homesites, Oak Tree by Pulte Homes with over 400 Homesites for single family homes as well as townhouses, Madison Place by D.R. Horton with 108 brand new homesites for building and Cassia Estates by Pulte Homes with 84 homesites.
Nearby this CVS is HCA Florida Northwest Hospital which is a 289-bed hospital providing high quality health care services to Margate, Coconut Creek, Coral Springs and Parkland for more than 30 years.
Colleges nearby this CVS property include Broward College with 33,243 students, Atlantic Technical College with 649 students and American College of Health.
CVS is an American Retail Corporation, a subsidiary of CVS Health headquartered in Woodsocket, Rhode Island. It is also known as and originally named The Consumer Value Store and was founded in Lowell, Massachusetts in 1963. CVS has over 9,160 locations, 300,000 employees and Revenue of US $357.8 Billion in 2023. CVS sells prescription drugs and a wide assortment of general merchandise, including over-the-counter drugs, beauty products, cosmetics, film and photos finishing services, seasonal merchandise and convenience foods.

Investment Overview

Price$4,000,000.00
Year Built2002
Lease ExpirationJanuary 31, 2028

255 S State Road 7
Margate, FL 33068

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NNN Properties (dba) SURMOUNT hereby advises all prospective purchasers of Net Leased property as follows:

The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, NNN Properties (dba) SURMOUNT has not and will not verify any of this information, nor has NNN Properties (dba) SURMOUNT conducted any investigation regarding these matters. NNN Properties (dba) SURMOUNT makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided. As the Buyer of a net leased property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. NNN Properties (dba) SURMOUNT expressly denies any obligation to conduct a due diligence examination of this Property for Buyer. Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a net leased property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs.

Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property.

By accepting this Marketing Brochure you agree to release NNN Properties (dba) SURMOUNT and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this net leased property.

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from NNN Properties (dba) SURMOUNT and should not be made available to any other person or entity without the written consent of NNN Properties (dba) SURMOUNT. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. NNN Properties (dba) SURMOUNT has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, NNN Properties (dba) SURMOUNT has not verified, and will not verify, any of the information contained herein, nor has NNN Properties (dba) SURMOUNT conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

NNN Properties (dba) SURMOUNT is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of NNN Properties (dba) SURMOUNT, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of NNN Properties (dba) SURMOUNT, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR NNN Properties (dba) SURMOUNT AGENT FOR MORE DETAILS.

All potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may deem necessary, especially given the unpredictable changes resulting from the continuing COVID-19 pandemic. NNN Properties (dba) SURMOUNT has not been retained to perform, and cannot conduct, due diligence on behalf of any prospective purchaser. NNN Properties (dba) SURMOUNT’s principal expertise is in marketing investment properties and acting as intermediaries between buyers and sellers. NNN Properties (dba) SURMOUNT and its investment professionals cannot and will not act as lawyers, accountants, contractors, or engineers. All potential buyers are admonished and advised to engage other professionals on legal issues, tax, regulatory, financial, and accounting matters, and for questions involving the property’s physical condition or financial outlook. Projections and pro forma financial statements are not guarantees and, given the potential volatility created by COVID-19, all potential buyers should be comfortable with and rely solely on their own projections, analyses, and decision-making.

*In addition to all other advisements, notices, and disclaimers set forth in this Marketing Brochure, NNN Properties (dba) SURMOUNT further advises all prospective purchasers that certain NNN Properties (dba) SURMOUNT related or affiliated parties, and/or its independent contractor salespeople, brokers of record, partners, trustees, beneficiaries, shareholders, members, managers, directors, officers, employees, or agents, along with their respective heirs, successors, personal representatives and/or assigns (collectively, the “NNN Properties (dba) SURMOUNT Related Parties”) may be acting as principals for the Seller or own a direct or indirect beneficial interest in the Property or in its ownership. By accepting this Marketing Brochure, any prospective purchaser shall thereby waive any claim they may have based on a conflict of interest given the NNN Properties (dba) SURMOUNT Related Parties’ role as both agent for the Seller and as the Seller (or as a principal of the Seller).

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