| Purchase Price | $6,600,000 |
|---|---|
| Annual Rental Income | $343,200 |
| Cap Rate | 5.20% |
| Lease Term | 16 Years |
| City | Fort Pierce |
"*" indicates required fields
CVS Pharmacy – Fort Pierce, FL
This CVS Pharmacy property located in Fort Pierce, Florida is secured by a long-term absolute triple-net (NNN) lease with CVS Health, a Fortune 500 company and one of the nation’s most recognized and creditworthy healthcare retailers. The investment offers passive, dependable income with no landlord obligations, backed by a corporate guarantee from a nationally trusted essential service provider.
Tenant Overview
CVS Pharmacy, a subsidiary of CVS Health (NYSE: CVS), operates more than 9,000 locations across the United States. The company offers a wide range of healthcare and convenience services, including prescription fulfillment, vaccinations, over-the-counter medications, health products, personal care, and everyday essentials. CVS continues to expand its role in the healthcare ecosystem through in-store health services, walk-in clinics, and primary care integration.
Lease Structure
The lease is structured as an absolute NNN lease, with the tenant responsible for all real estate taxes, insurance, maintenance, and capital expenditures. This creates a fully passive income stream for ownership, with zero management responsibilities. Long initial lease terms and multiple renewal options support long-term cash flow stability and investor confidence.
Fort Pierce Market Overview
Fort Pierce is a coastal city in St. Lucie County on Florida’s Treasure Coast. The area continues to experience strong population growth due to its affordability, access to beaches, and proximity to larger employment centers such as Port St. Lucie, Vero Beach, and West Palm Beach. Fort Pierce is both a local economic center and a gateway to Florida’s east coast markets.
Demographics & Growth Trends
Fort Pierce and the greater St. Lucie County area are seeing consistent residential and commercial development. The city serves a diverse population, including working families, retirees, and seasonal residents. As the population expands, demand for accessible healthcare and essential retail continues to rise—supporting CVS’s long-term performance and presence in the community.
Essential Retail & Community Impact
As one of the area’s primary pharmacy and convenience retailers, CVS plays a critical role in meeting the healthcare and daily needs of local residents. Its broad service offerings and high-frequency foot traffic make it a cornerstone of community health access and retail convenience. The store benefits from consistent customer volume and long-term demand for prescription and front-end sales.
Tenant Credit & Investment Security
CVS Health is an investment-grade, publicly traded tenant with a strong balance sheet and an excellent track record of lease performance. Its commitment to healthcare innovation and neighborhood access to care further reinforces long-term tenancy and operational strength. For investors, this offers a highly secure, passive income opportunity with institutional-grade tenancy.
Investment Highlights