SWC of Collins Avenue & W 41st Street, Miami Beach, FL 33140
Cashflowinmiami is pleased to offer for sale a trophy and generational investment opportunity to acquire the retail condominium interest in a CVS (the “Property”) located in the heart of world-renowned Miami Beach. The subject Property consists of a two-story retail store/building/Condo comprised of 8,896 square feet, which sits below a four story parking structure. CVS signed a 25 year lease, which is anticipated to commence in April 2021, providing an investor with the longest primary term on the market or exuding their long-term commitment to the site.
The lease provides for extremely attractive 10% rent increases between each of the nine, 5-year renewal options. CVS, which is publicly traded on the New York Stock Exchange under the ticker symbol “CVS”, is the largest pharmacy health care provider in the United States with integrated offerings across the entire spectrum of pharmacy care. CVS Health ranked #5 on the 2020 Fortune 500 list with annual revenues in excess of $263 billion and boats a “BBB” investment-grade credit rating by Standard & Poor’s.
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