| Purchase Price | $6,850,000 |
|---|---|
| Annual Rental Income | $342,500 |
| Cap Rate | 5.00% |
| Lease Term | 15 Years |
| City | Wesley Chapel |
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CVS Pharmacy – Wesley Chapel, FL (Tampa MSA)
This CVS Pharmacy located in Wesley Chapel, Florida is secured by an absolute triple-net (NNN) lease with CVS Health, a Fortune 500 company and one of the nation’s most trusted names in pharmacy and healthcare retail. This investment offers stable, long-term income backed by a corporate tenant in a rapidly growing Florida market. With zero landlord responsibilities and an essential-service tenant, the property represents a low-risk, passive opportunity well suited for both individual and institutional investors.
Tenant Overview
CVS Pharmacy is a wholly owned subsidiary of CVS Health (NYSE: CVS), which operates more than 9,000 pharmacy locations nationwide. The brand is known for delivering high-frequency, necessity-based services including prescription fulfillment, immunizations, health screenings, and front-end retail items such as over-the-counter medications, personal care products, and basic grocery essentials. In recent years, CVS has continued to evolve into a healthcare destination, expanding in-store services with walk-in clinics, MinuteClinics, and partnerships with insurance providers and telehealth platforms.
CVS Health is a Fortune 500, investment-grade tenant with a proven history of long-term lease performance and a strong real estate commitment. The company’s focus on integrating primary care into its pharmacy locations enhances its long-term relevance and positions it at the center of community-based healthcare delivery. As healthcare trends shift toward convenience, accessibility, and preventive care, CVS is poised for continued growth and operational durability across all markets it serves.
Lease Structure
This asset is encumbered by an absolute triple-net lease, meaning the tenant is responsible for all real estate taxes, insurance, maintenance, and capital repairs. For the investor, this translates into a truly passive ownership structure with no operational involvement required. The lease includes a long primary term and structured renewal options, supporting steady cash flow and long-term stability.
Triple-net leases with credit tenants like CVS are highly sought after by investors due to their reliability, inflation protection (via built-in rent escalations), and low management burden. The lease structure allows for maximum predictability and aligns well with long-term investment strategies focused on wealth preservation and consistent income generation.
Wesley Chapel Market Overview
Wesley Chapel is one of the fastest-growing suburbs in the Tampa metropolitan area. Located in Pasco County, just 20 miles north of downtown Tampa, Wesley Chapel has transformed over the past two decades from a quiet rural town into a booming residential and commercial hub. The area benefits from strong migration trends, high-quality schools, extensive retail and medical infrastructure, and proximity to major highways such as I-75.
Population growth in Wesley Chapel has been explosive, with the area consistently ranked among Florida’s top-performing housing markets. It attracts young families, professionals, and retirees seeking a suburban lifestyle with urban access. The influx of master-planned communities, Class A multifamily housing, and commercial developments further solidifies its long-term economic outlook.
Demographics and Growth Drivers
Wesley Chapel’s demographic profile is ideal for national retail and healthcare tenants. The area features a young, educated, and high-income population base. Median household income exceeds state and national averages, and homeownership rates are high, reinforcing consumer stability. The presence of growing employment centers in healthcare, logistics, and education adds to the market’s economic strength.
Healthcare demand in Wesley Chapel is supported by both the aging population and the increasing number of families moving to the area. This creates sustained demand for prescription services, vaccinations, and convenient walk-in care—services that CVS is uniquely positioned to deliver.
Essential Retail Role
CVS functions as both a healthcare provider and convenience retailer. Its offerings are largely recession-resistant and generate high-frequency foot traffic. The store serves a critical role for residents who rely on it for day-to-day health needs, prescription medications, and basic household goods. Especially in high-growth suburban markets like Wesley Chapel, CVS stores act as neighborhood anchors—drawing consistent traffic and fostering brand loyalty.
As healthcare delivery continues to decentralize, consumers increasingly seek accessible, local solutions for basic health needs. CVS’s strategic pivot into integrated care—including virtual visits, chronic disease management, and partnerships with Aetna—ensures the brand remains essential in both traditional retail and the evolving healthcare landscape.
Investment Security
CVS Health is rated investment-grade by all major credit agencies and has a market capitalization exceeding $80 billion. With a history of steady financial performance, strong cash flows, and ongoing reinvestment into its healthcare platform, CVS represents one of the most secure tenants in the net lease marketplace.
This particular location in Wesley Chapel offers the ideal combination of strong real estate fundamentals, essential tenant profile, and passive lease structure. The absolute NNN lease eliminates landlord responsibilities, while the long-term corporate guarantee reduces income risk. With Florida continuing to attract population and business growth, this property is positioned for both capital preservation and long-term cash flow generation.
Investment Highlights