CVS | Wilmington, NC MSA
Absolute NNN Lease | No Rent Holiday | Strong Population Growth
Marketing description
Transwestern is pleased to exclusively offer for sale a single tenant CVS Pharmacy in Castle Hayne, NC. CVS signed a rare, 20-year extension in 2019 on their absolute NNN lease, with no rent holiday. The property sits on 2.20 acers and is located at a signalized intersection with strong traffic counts. The immediate area is experiencing a significant population boom, with thousands of residential units currently proposed for development. CVS is the only pharmacy within a five-mile radius and will capitalize on the population increase. CVS had a record revenue year in 2025, generation $402.1 billion, up 7.8% compared to 2024. CVS is #6 on the Fortune 500 with strong earnings and solid guidance.
Investment highlights
Absolute NNN lease with 13.5+ years remaining and no rent holiday.
Corporate guarantee from investment grade tenant (BBB).
Consistent population growth surrounding the property and the entire Wilmington MSA.
Located on a signalized intersection with 18,280 VPD.
Directly across from CVS, Circle K recently expanded their building and signed a new 15-year lease.
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