CVS Corporate Guaranteed NN Retail | Miami FL 33145
2120 SW 32nd Ave, Coral, Florida 33145
$17,971,032
$764 / sq ft 5.1% cap rate Listed Sep 9, 2025
23,519 sqft
Building
2 acres
Lot
2024
Built
1
Stories
65
Parking
1
Units
About this property
CVS Corporate Guaranteed NN Retail | Miami FL 33145 is a retail for sale in Coral, Florida, listed at $17,971,032. Key details: year built 2024, building size 23,519 sqft, lot size 2 acres, stories 1. Listed by Manuel Chamizo III of ONE Sotheby's on LoopingCloud and last updated May 14, 2026.
Newly Renovated 2024 Retail Property Near Coral Gables
Manny Chamizo III and ONE Sotheby's International Realty are proud to present an elite investment offering: a single-tenant retail asset leased to CVS Health Corporation / Navarro Discount Pharmacy. Located at 2120 SW 32nd Avenue, Miami, FL 33145, this property represents a generational acquisition opportunity at the edge of the prestigious Coral Gables Central Business District.
Sitting on a massive 1.95-acre site, this high-performing location benefits from the extreme affluence and dense demographics of the Miami-Dade market. With a 100% gut renovation completed in 2024, this Class A asset offers a secure, long-term hedge against inflation in a tax-free state.
Investment Snapshot
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Price per SqFt: $820
-
Cap Rate: 5.10% (Attractive yield for Miami-Dade)
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Occupancy: 100% (Single-Tenant)
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Tenant: CVS Health Corp / Navarro Discount Pharmacy
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Lease Structure: NN (Landlord responsible for Roof, Structure, and Parking Lot)
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Renovation Year: 2024 (Complete Gut Renovation)
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Total Building Size: 23,519 SF
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Lot Size: 1.95 Acres (Significant intrinsic land value)
Strategic Location & Market Dominance
This property is situated on a major retail thoroughfare directly adjacent to high-profile national tenants. Its location on the border of Coral Gables places it within one of the most affluent submarkets in the United States.
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Unmatched Accessibility: High-traffic visibility with ample parking (1.95 acres).
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Demographic Strength: Surrounded by high-income households within a 5-mile radius.
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Development Potential: The oversized lot provides significant long-term upside in a land-constrained Miami market.
Lease Abstract & Passive Income Profile
The lease is structured to provide stability and consistent growth, backed by a Corporate Guarantee from a pharmacy giant.
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Current Annual Rent: $916,522.66
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Lease Term: Brand new 15-year primary term (Commenced April 2024).
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Expiration Date: April 1, 2039.
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Renewal Options: Eight (8) five-year periods.
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Rent Escalations: 5% increases at each option term to hedge against inflation.
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Below-Market Rent: Current rent is positioned below market value, offering future upside potential.
Core Investment Highlights
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Corporate Credit Security: Guaranteed by CVS Health Corporation, a Fortune 500 leader.
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2024 Capital Improvements: The building underwent a 100% complete gut renovation, minimizing immediate CAPEX requirements for a new owner.
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Fee Simple Ownership: Full ownership of both the 23,344 Net Rentable Square Feet and the underlying 1.95 acres.
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Income Tax Advantage: Florida’s status as a tax-free state makes this a premier destination for 1031 Exchange investors.
Why Choose This Asset?
In a volatile market, the combination of essential retail (Pharmacy/Drug Store), a 2024 renovation, and a Miami/Coral Gables location creates a "flight to quality" asset. This is a "set-and-forget" investment for savvy portfolios seeking reliable cash flow with strong corporate backing.
Key highlights
- Occupied
- Pharmacy
- CVS owned Navarro Super Tore
- CVS Corporate Guaranteed
- Absolute NN
- Long-Term Lease till 2039
- Coral Way Major Retail Thoroughfare
- Florida is a Tax-Free State
- FPL,Wtr & Sewer
Lending Opportunities
| Company | Lender type | Contact | Phone | |
|---|---|---|---|---|
| TheLoanProsTeam | Mortgage Broker | Roxanne Chung | (754) 707-5877 | |
| Money Solutions, LLC | Mortgage Broker | Jennifer A. Judice | (813) 431-5000 |
Business Opportunities
| Company | Business type | Contact | Phone | |
|---|---|---|---|---|
| BAY TITLE COMPANY | Title Services | ALANA Supraski | (305) 692-8886 |
Property details
Key facts
- Year Built
- 2024
- Building Size
- 23,519 sqft
- Lot Size
- 2 acres
- Stories
- 1
- Parking Spaces
- 65
- Total Units
- 1
- Building Class
- Class A
- Heating & Cooling
- Heating and Cooling
- Roofing
- Prestres
- Occupied
- Yes
- Occupancy
- 100%
- Property Status
- Normal Sale
- Building Status
- Existing
Pricing details
- Net Operating Income
- $916,523
- Financing
- Third Party Financing
- Investment Property
- Active investment property
Investment snapshot
5.1%
Cap rate
$916,523
Net operating income
$764
Price per sq ft
Actual - Cash Flow
Source: Yearly tax returns
Gross incomeNet operating income
| Year | Gross income | Effective gross | Expenses | NOI | Pre-tax cash flow | Cap rate |
|---|---|---|---|---|---|---|
| 2025 | $916,523 | - | - | $916,523 | - | - |
Acquisition options
| Option | Asking price | Cap rate | Commission | Monthly income | Ownership |
|---|---|---|---|---|---|
| Purchase Only | $17,971,032 | 5.1% | - | - | - |
Features and amenities
Property Other Use Types
- Pharmacy
Prominent Tenants
- CVS owned Navarro Super Tore
Property Features
- 100% Complete Gut Renovation Completed in 2024
- CVS Corporate Guaranteed
- Absolute NN
- Long-Term Lease till 2039
- Coral Way Major Retail Thoroughfare
- Florida is a Tax-Free State
Highlights
- Brand-New Long-Term Lease: The property has a new 15-year lease with CVS/Navarro, ensuring a stable income stream.
- Corporate Guarantee: The lease is backed by a strong corporate guarantee from CVS Health Corporation, a national credit tenant.
- Below-Market Rent: The current rent is below market value, offering future upside potential for increased income.
- Significant Development Potential: The 1.95-acre lot provides room for future redevelopment or expansion.
- Prime Location: Located at the edge of Coral Gables, one of Miami-Dade County's most affluent and desirable submarkets.
- High-Visibility Site: The property is situated on a major thoroughfare with excellent frontage.
- Recent Renovations: The building underwent major renovations in 2024, ensuring it is in excellent condition.
- Future Income Growth: The lease includes eight five-year renewal periods with a 5% rental increase at each option.
- Attractive Cap Rate: The property offers a compelling 4.75% cap rate.
- Tax-Friendly State: This investment is located in Florida, a tax-free state, which is a major benefit for investors.
Utilities
- FPL,Wtr & Sewer
Location
Address as shown by the lister.
Get directionsAbout this area - Miami
- Population
- 28,921
- Housing units
- 10,736
- Land area
- 2.6 sq mi
- County
- Miami Dade
Neighborhood
Places shown on the map come from Google Maps and are near the property. Check details with each place before you rely on them.
Documents, links and contacts
Property documents
2 files to downloadFrequently asked questions
What is the asking price of CVS Corporate Guaranteed NN Retail | Miami FL 33145?
CVS Corporate Guaranteed NN Retail | Miami FL 33145 is listed at $17,971,032. That works out to about $764 per square foot. The stated cap rate is 5.1%.
Where is CVS Corporate Guaranteed NN Retail | Miami FL 33145 located?
The property is in 2120 SW 32nd Ave, Coral, Florida 33145, Miami Dade County.
What type of property is this?
This is a retail for sale in the commercial category.
How big is the property?
The building is 23,519 sqft. The lot is 2 acres.
Is financing available?
The lister indicates: Third Party Financing.
Who do I contact about this listing?
Manuel Chamizo III of ONE Sotheby's listed this property. Use the Request Info button to send a message or call (305) 666-0562.
When was this listing published?
It was published on September 9, 2025 and last updated on May 14, 2026.
Listing information
- Listing ID
- CL-Florida-26235
- Published
- Sep 9, 2025
- Last updated
- May 14, 2026
- Views
- 150
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