The Jacksonville CVS Pharmacy offers investors a long-term retail investment with a strong national tenant and an absolute NNN lease. Located in South Jacksonville, Florida, the 16,362-square-foot pharmacy sits on a prominent corner with high traffic and strong local demographics. The property generates $340,000 in annual net operating income (NOI) and offers a 5.23% cap rate.

Built in 2001 and renovated in 2015, the property combines an established location with a recently extended lease. In addition, its long remaining term can provide investors with reliable income over the coming years.

Jacksonville CVS Pharmacy: Long-Term Lease

CVS recently extended its lease, moving the expiration date to November 2040. The current lease has approximately 14.1 years remaining, giving the owner a long period of contracted rental income.

The absolute NNN structure also limits the landlord’s responsibilities. CVS covers property taxes, insurance, operating costs, and capital expenses, including major building repairs.

Key investment details include:

• Building size: 16,362 square feet
• Cap rate: 5.23%
• Annual NOI: $340,000
• Lease type: Absolute NNN
• Lease expiration: November 30, 2040
• Remaining lease term: Approximately 14.1 years
• Rent increases: 5% every five years
• Renewal options: Five additional five-year options
• Year built: 2001
• Year renovated: 2015

Furthermore, scheduled rent increases apply throughout the renewal periods. These increases offer a degree of protection against inflation while supporting future income growth.

Jacksonville CVS Pharmacy in a High-Traffic Location

The property occupies a strategic corner at a signalized intersection in South Jacksonville. Traffic counts exceed 65,500 vehicles per day, giving the store strong visibility and convenient access.

The surrounding area features established residential neighborhoods and a strong customer base. Average household income within a three-mile radius exceeds $103,000, according to the provided property information.

This combination of traffic exposure and local purchasing power supports the property’s position as a neighborhood retail destination.

Jacksonville Market and Economic Growth

Jacksonville continues to attract businesses, workers, and new residents. The city has become a major business center in Florida, with a growing corporate presence and more than 150 regional and divisional headquarters.

Its large population and diverse employment base help support demand for essential retail and healthcare-related services. As a result, established pharmacy locations can benefit from the city’s wider economic activity.

Key Investment Highlights

The Jacksonville CVS Pharmacy offers several features that may appeal to net lease investors:

• Long-term lease extending through November 2040
• Absolute NNN structure with no landlord expense obligations
• Corporate pharmacy tenant
• 5.23% cap rate and $340,000 annual NOI
• Scheduled 5% rent increases every five years
• Five additional five-year renewal options
• High-visibility corner location
• More than 65,500 vehicles passing daily
• Strong nearby household income

A Passive Retail Investment in Jacksonville

The Jacksonville CVS Pharmacy combines a nationally recognized tenant, a long lease term, and a hands-off ownership structure. Its prominent location and strong surrounding demographics add further appeal.

For investors seeking stable commercial real estate income in Florida, this property offers an opportunity to acquire an established pharmacy with meaningful lease protection and future rent growth.