CVS Pharmacy Retail Investment Opportunity at 3700 Northwest 199th St
$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.