investment property for sale cvs nnn ground lease & real

INVESTMENT PROPERTY FOR SALE

CVS NNN Ground Lease & Real Estate3520 Laurel Road East, Venice, FL 34275Presented By:

MICHELE FULLER MATT KEZAR941.906.8688 x104 941.906.8688 [email protected] [email protected]

21 South School Avenue Suite 600 | Sarasota, FL 34237 | ian-black.com

RENT SCHEDULETERM INCREASES ANNUAL RENT MONTHLY RENT

Years 1-25 None $185,500.00 $15,458.33Years 26-30 (Option 1) 5% $194,775.00 $16,231.25Years 31-35 (Option 2) 5% $204,513.75 $17,042.81Years 36-40 (Option 3) 5% $214,739.44 $17,894.95Years 41-45 (Option 4) 5% $225,476.41 $18,789.70Years 46-50 (Option 5) 5% $236,750.23 $19,729.19Years 56-60 (Option 6) 5% $248,587.74 $20,715.65

INVESTMENT HIGHLIGHTS

• CVS NNN Ground Lease

• 17 years remaining on original lease with six 5-year options to renew. 5% increase with each renewal

• Located directly off I-75 on Laurel Road in the City of Venice

• Rapidly growing population & strong demographics - highest growth area in south county

• Zoning: CHI (Commercial Highway Interchange)

• Both parcels total 4.03 acres: CVS - 1.69 Acres; Vacant land - 2.34 Acres

COMMISSION STRUCTUREBuyer's Agent to be paid by Buyer.

PROPERTY SUMMARY

Sale Price: $3,600,000

Cap Rate: 5.15%

Rent Per Month / SF: $15,458.33 / $14.37

Rentable Square Feet: 13,600

Land Area - CVS/Vacant Land: 4,03 +/- Acres

Parking Spaces: 62

Credit Rating / Stock Symbol: S&P: BBB+ / "CVS"

Guarantor: CVS Health Corporation

Ownership Type: Fee Simple

Lease Type: NNN

Landlord Responsibilities: None

Store Closed: Closed with CVS Guaranty

Lease Term Remaining: 17 years

Rent Commencement: April 2008

Confidential Offering Memorandum

Executive Summary


PROPERTY NAME: CVS Ground Lease & Real Estate For Sale

PROPERTY ADDRESS: 3520 Laurel Rd E, Nokomis (City of Venice), FL 34275

PROPERTY TYPE: Retail Building

APN: 0389002012

GROSS BUILDING AREA: 12,946 SF on 1.69 Acres (73,715 SF)

ZONING: CHI - Commercial Highway Interchange

YEAR BUILT: 2010; effective year 2012

NUMBER OF STORIES: 1

FOUNDATION: Concrete slab

WALLS: Masonry, Block & Stucco

ROOF: Built-up tar & gravel low pitch shed roof


Property Details


Section: Confidential Offering Memorandum

Additional Photos



Tenant Overview


LOCATION INFORMATION Confidential Offering Memorandum

Regional Map


Vicinity Map




Map of Parcels & Survey



Demographic Information


Sarasota only 30 minutes north

Sarasota only 30 minutes north

Located on the Gulf of Mexico

Venice, Florida


Market Overview


1 South School AvenueSarasota, FL 34237

T 941.906.8688 x104C [email protected]

Sales Agent/PartnerMICHELE FULLER Professional Background

Michele Fuller joined Ian Black Real Estate in 2009 bringing her extensive expertise and market savvy to one of themost reputable commercial real estate brokerage firms in Florida. Michele was invited to become a partner of thefirm in 2016. Her commercial real estate career began in 1999 with Coldwell Banker where she quickly becameone of the most successful commercial agents worldwide. Her real estate experience encompasses the office,retail, industrial and land sectors of the commercial market. Michele is involved in a variety of development andinvestment transactions and exhibits the deep market knowledge and the tenacity required to guide challengingtransactions to successful closure.

Michele Fuller grew up in Asia – primarily India, Nepal and surrounding countries. She completed her formaleducation in the United States and began exploring the New England area. Her entrepreneurial spirit led Michele toMartha's Vineyard, where she owned and operated a boutique hotel for 8 years. In 1998, Michele found herself inSarasota, where she decided to stay and pursue a career in commercial real estate. Michele has two children andenjoys traveling, skiing and the arts.

Memberships & AffiliationsNational, Florida and Sarasota/Manatee Associations of RealtorsICSCSarasota Commercial Investment DivisionSarasota & Manatee Chambers of Commerce

EducationCCIM Candidate


Contact 1 & Bio


Contact 2 & Bio

1 South School AvenueSarasota, FL 34237

T 941.906.8688 x111C 941.720.1973F [email protected]


MATT KEZARBroker Associate

Professional BackgroundMatt Kezar joined Ian Black Real Estate in May 2016 as a Broker Associate with extensive experience incommercial real estate acquisition, entitlement, development, sales, and leasing.

A Tampa Bay native, Matt enjoyed a military education and career before actively pursuing real estatedevelopment. Through his involvement as Vice President at MBK Real Estate Services, Inc., Executive VicePresident at Corvus International, a Partner of The Bennett Group, and Principal of Blackrock DevelopmentHoldings, Matt honed a wide range of skills and the ability to perform on complex projects.

Matt was recognized by the Gulf Coast Business Review as a ‘Top 40, Under 40 Business Leader’ in the TampaBay area.

Memberships & AffiliationsNational, Florida and Sarasota/Manatee Associations of RealtorsSarasota/Manatee Chambers of CommerceDirector - Open Doors FoundationFormer Board member - Boys & Girls Club of Manatee CountyBradenton Yacht ClubOur Daily Bread Soup KitchenMatt was also selected to the President’s Council of the Manatee County Economic Development Council

EducationMatt is a West Point Graduate who earned a BS Degree in Engineering & Management, was a CommissionedOfficer and Brigade Environmental Officer in the United States Army and completed training in the US ArmyAirborne and Nuclear, Biological & Chemical Warfare Schools.

investment property for sale cvs nnn ground lease & real

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