CVS Pharmacy in West Miami hits the market

CVS Pharrmacy store at 2393 Southwest 67 Avenue in West Miami

CVS Pharmacy store at 2393 Southwest 67 Avenue in West Miami

 

Marcus & Millichap obtained the exclusive right to market a 13,103-square-foot CVS Pharmacy location in West Miami.

 

The store is listed for sale with an asking price of $14.21 million, or $1,084 per square foot.

 

Drew A. Kristol, a vice president, investments, in the Miami office of Marcus & Millichap, said in a press release the listing represents an unusual opportunity to acquire a CVS Pharmacy store “situated on a busy four-way signalized corner, with a rare 25-year term remaining on the base lease.” The lease is guaranteed by parent company CVS Health Corp.

 

Kristol and another Miami-based vice president, investments, of Marcus & Millchap, Kirk D. Olson, are representing the seller, a private investor in Coral Gables.

 

The 13,103-square-foot CVS was built in 2014 and includes a 24-hour drive-through lane. It located at 2393 Southwest 67 Avenue on the corner of Coral Way and Southwest 67 Avenue.

 

The property is surrounded by a residential neighborhood and, according to Marcus & Millichap, has a population of nearly 500,000 people within a five-mile radius.

 

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