245 Military TrlWest Palm Beach, FL 33415

Property Details for 245 Military Trl

Year built

2002

Construction

CONCRETE

Lot size

1.82 AC

Property size (Sq ft)

14,556 SF

Zone code

UC

Property type

Retail properties

Property subtype

Drug stores

APN

00-42-44-01-27-002-0010

APU

424401270020010

Description

This exceptional investment opportunity presents a 12,739 square foot CVS Pharmacy located at 245 South Military Trail, West Palm Beach, Florida, 33415. The property sits on a 1.82-acre lot at a highly trafficked signalized intersection, boasting an absolute NNN lease with a corporate guarantee from CVS Health, a Fortune 500 company. The lease, originally commencing February 1, 2002, has a remaining term of approximately two years, with five 5-year options remaining, each including a 2% rent increase. The current asking price is $6,100,000, representing a price per square foot of $478.84 and a 5.11% cap rate. The property's Net Operating Income (NOI) is $311,446, reflecting a 100% occupancy rate. Built in 2002, this strategically located retail asset benefits from its proximity to major employers, substantial residential areas, and numerous established retailers within a one-mile radius, including The Mall at Wellington Green and other prominent brands. The location enjoys high consumer spending on healthcare within a five-mile radius, exceeding $165 million annually, serving a population exceeding 334,988. This investment offers a secure, high-yield opportunity with a strong tenant and significant upside potential.

Location Insight

City

West Palm Beach

County

Palm Beach

State

Florida

Latitude

26.6741

Longitude

-80.113

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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