July 2, 2020 – Bob Horvath, Todd Tremblay and Brad Canova of Horvath & Tremblay have successfully completed the sale of CVS Pharmacy in Orlando, Florida. Horvath & Tremblay exclusively represented the seller in this transaction and procured the buyer at a sale price of $6,090,000, a 5.12% Cap Rate.
CVS Pharmacy is located at 5190 South Conway Road in Orlando, Florida. The stand-alone building was constructed in 2003 and contains 13,824 square feet, including a drive through. The corporate lease has 20 years remaining on an Absolute Triple-Net Lease with an additional four (4) 5-Year Options. This location has fixed rent increases at the start of each option period. The property is well located near the intersection of South Conway Road and Hoffner Avenue, providing a “Main and Main” location for area residents. The property sees more than 67,000 vehicles per day and is surrounded by numerous national retailers.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.