CVS 1390 S Jefferson St 13,800 SF Retail Building Monticello, FL 32344 $4,105,111 ($297.47/SF) 7.20% Cap Rate

The Boulder Group is pleased to exclusively market for sale a single tenant CVS property located in Monticello, Florida within the Tallahassee MSA. Built in 2007, the property has been successfully occupied by CVS continuously since construction. CVS is operating on a lease that runs through January 2033. The lease is absolute triple net and presents no landlord responsibilities. There are ten 5-year renewal options with various rental escalations. Additionally, the property bene?ts from its location in Florida, an income tax free state.
The 13,800 square-foot building is located along US Highway 19, which carries 11,300 vehicles per day. The site bene?ts from limited competition in the area, with the nearest Walgreens located 25 miles west in Tallahassee. According to CoStar, the population within one mile is projected to grow by 8.35% from 2025 to 2030. Nearby retailers include Tractor Supply Company, Burger King, Dollar Tree, Pizza Hut, and Dollar General Market. Additionally, the average household income exceeds $80,000 within a ten-mile radius.
CVS Health Corporation, headquartered in Woonsocket, Rhode Island, stands as the world’s second-largest healthcare company (behind UnitedHealth Group). The organization operates more than 9,000 retail pharmacy locations nationwide, over 1,000 MinuteClinic walk-in medical clinics, the CVS Caremark pharmacy bene?ts manager, Aetna health insurance plans, and comprehensive specialty pharmacy services. With approximately 300,000 colleagues, CVS Health serves more than 100 million people annually, delivering an integrated approach that simpli?es healthcare access, enhances affordability, and promotes overall well-being for patients and communities across the United States.