CVS

13,824 SF | Retail Building | Rolesville, NC 27571 | $5,200,000 ($376/SF) | 5.93% Cap Rate

Asking Price $5,200,000

Property Type: Retail
Square Feet: 13,824 SF
Price / Square Foot: $376

Listing Contacts

Christopher Pappas

Verified Profile

Michael Cardone

Verified Profile

Property Info

Property Overview

-NNN CVS/pharmacy with No Landlord Responsibilities: CVS/pharmacy Located at the Highly Trafficked Signalized Intersection of S Main Street (15,000 Vehicles Per Day (VPD)) and Rogers Road (9,000 VPD) in Rolesville, NC in the Raleigh-Durham-Cary MSA
-Rapid/Growth Development Area in the Greater Research Triangle: Located in Rolesville, NC, the Fastest Growing Town in North Carolina with Populations Over 5,000 According to the 2020 US Census with Over 2,400 Homes/Apartments Currently Under Development
-Explosive Historical and Projected Population Growth: Rolesville Grew More Than 150 Percent Between 2010 and 2020 According to the US Census with Population Growth Projected at Nearly 12 Percent Within a 3-Mile Radius of This CVS Between 2023 and 2028
-Long Term Lease with Rare Base Term Rent Increase Offering Maximum Security: CVS/pharmacy's Lease Base Term Currently Features Over 12 Years and Several 5-Year Tenant Extension Options Along with a Rare Base Term Rent Increase Providing an Ideal 1031 Investment
-Strong Surrounding Retail Synergies: Surrounded by a Host of the Nation’s Most Successful Retailers Including Food Lion, McDonald’s, Auto- Zone, Dollar General, and Sonic Along with with Publix, 7-Eleven, and Bojangles Under Construction
-Investment Grade Credit / Fortune 500 Company: Lease Corporately Guaranteed by CVS Health, the 6th Ranked Company in the Fortune 500 with an S&P Credit Rating of BBB and Over $358 Billion in Total Revenue (2023)

Property Details

Class: B
Year Built: 2005
Stories: 1
Property Subtype: Drug Store
Lot Size (sq. ft): 75,794 SF

Highlights

CVS/pharmacy at the Four-Way Signalized Intersection of S Main Steet and Rogers Road (+/- 25,000 Vehicles Per Day)
Rolesville, NC was the Fastest Growing Town in the State Per 2020 Census Data; Currently Has 2,400+ Dwelling Units Under Construction
Explosive Historical Growth (150% from 2010 to 2020) with Robust 12% Growth Projected Between 2023 and 2028
Strong Surrounding Retail Synergies with Publix, 7-Eleven, and Bojangles Currently Under Construction
Long Term NNN Lease Featuring Over 12 Years of Term Providing Maximum Security
Corporate Guarantee from CVS, the 6th Ranked Company on the Fortune 500 w/ an S&P Credit Rating of BBB

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CVS