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CVS Pharmacy Retail Investment Opportunity at 3700 Northwest 199th St

CVS Pharmacy Retail Investment Opportunity at 3700 Northwest 199th St
FOR SALE
View more

$6,090,000

3700 Northwest 199th Street, Miami Gardens, FL 33055

15,114 SF

Square Feet

$403

PPSF

6.05%

CAP

Property Description

NOI

$368,478

Cap Rate

6.05%

Current Real Estate Advisors is pleased to present an exceptional investment opportunity to acquire CVS – Miami Gardens (the “Property”), a ±15,114 SF freestanding, single-tenant asset strategically positioned on a 67,724 SF (1.55-acre) parcel in the core of the Miami MSA. Leased to CVS Pharmacy (NYSE: CVS) – the leading pharmacy brand in the U.S. – the Property offers the security of an Absolute NNN lease with no landlord responsibilities. Approximately 6 years remain on the initial lease term, complemented by 10, 5-year renewal options, ensuring long-term stability.

The property is a build-to-suit location for CVS, constructed in 2006, with strong historical tenancy and exceptional performance at this location.

Situated just 1 mile from Hard Rock Stadium, the Property benefits from close proximity to one of South Florida’s largest economic drivers – host to the NFL, NCAA Football, ATP Miami Open, Formula 1, and FIFA World Cup (2026), as well as dozens of concerts and other events, bringing 4.5+ Million annual visitors to the area.

CVS – Miami Gardens is a unique offering for investors seeking reliable, steady cash flow from a publicly traded, industry-leading tenant. Supported by prime real estate fundamentals, this investment delivers security today, as well as opportunity for future redevelopment, which offers substantial upside potential for a range of highvalue uses in the years ahead.


Property Details

Asset Type

Retail

Year Built

2006

Zoning

Neighborhood Commercial (NC) District

Acres

1.55

Neighborhood

Miami Gardens

Submarket

Miami Gardens

ZIP

33055

Listing Type

sale

Net Operating Income (NOI)

$584,590

Debt Service Coverage Ratio (DSCR)

1.69x

Cap Rate

9.60%

Cash Flow (Annual)

$238,154

Cash-on-Cash Return

15.64%

Monthly Debt Service

$28,870

Annual Debt Service

$346,436

View on Map

Address

3700 Northwest 199th Street

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Miami Gardens Retail Market Snapshot

Boundary boundary · Retail · Sale

No investors found in this market.

Contact the Listing Team

Alejandro Snyder

Alejandro Snyder

Partner & Managing Director

18 closed

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Michael B Williams

Michael B Williams

Director

14 closed

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Send a Message

Alejandro Snyder

Alejandro Snyder

Partner & Managing Director

18 closed

Call
Michael B Williams

Michael B Williams

Director

14 closed

Call