7001 Estero Blvd
Fort Myers, FL 33931

Marcus & Millichap is pleased to present for sale this freestanding, CVS located in Fort Myers Beach, Florida. Fort Myers Beach is a town on Estero Island, off the southwest Florida coast in Lee County. It is part of the Cape Coral-Fort Myers, Metropolitan Statistical Area. The CVS is a fee simple lease, backed by CVS Corporate with three and a half years left in their first exercised option period. There are three additional five-year option periods with rent escalations. This is an ideal passive investment opportunity with zero landlord responsibilities being offered at 5.65 capitalization rate. CVS consists of an 11,364 square foot retail space with a drive-thru and ample parking on a large 1.27-acre parcel, currently leased by CVS Corporate. CVS is conveniently located on Estero Boulevard, the main north-south thoroughfare of the island with a traffic count of 13,642 vehicles per day. Within five miles there are 15,577 residents with an average household income of $93,143 and an expected population growth over the next five years of 10 percent. Within the last two years, the tenant has replaced the HVAC units, roof, roof perimeter and upgraded the store to be ADA compliant showing their commitment to this location as the only drug store on Estero Island. Across Lenell Road from the subject property is a 62,025 square foot shopping center with the United States Postal Service, Subway and Edward Jones as the major tenants and across Estero Boulevard is a 7-Eleven gas Station. CVS is one of the nation's largest leading drugstore chains with over 9,600 stores in 50 states, the District of Colombia, Puerto Rico and the US Virgin Islands. CVS sells prescription drugs and a wide assortment of general merchandise, including over-the-counter drugs, beauty products and cosmetics, film and photo finishing services, seasonal merchandise, greeting cards, and convenience foods through their CVS Pharmacy and Longs Drugs Retail stores and online through CVS.com. It also provides healthcare services through its more than 1,100 MinuteClinic medical clinics as well as their Diabetes Care Centers. Most of these clinics are located within CVS stores.