14600 Lawyers Rd, Matthews, NC 28104 For Sale

BEST-IN-CLASS, INVESTMENT-GRADE, PUBLIC GUARANTOR | The lease is fully guaranteed by CVS Health Corporation (NYSE: CVS; S&P: BBB), the largest retail pharmacy chain in the United States with over 9,000 locations in all 50 U.S. states, the District of Columbia and Puerto Rico – 85% of Americans live within five miles of a CVS Pharmacy. The company is one of the world’s most valuable brands and is currently ranked 5th on the Fortune 500 with annual revenue of more than $372 billion – a 11% YoY increase.

RECENTLY EXCERCISED RENEWAL OPTION | CVS recently exercised their first renewal option, showing their commitment to this site.

LOW RENT/LOW PRICE POINT IN TIGHT SUBMARKET | The Property is within the Union County retail submarket where vacancy is currently hovering near historic lows (2.7%), well-below the submarket’s 10-year average (3.5%) and far-outpacing the national average (4.7%). This has pushed retail rents in Union County up to $23.47 PSF today, growing at an accelerated rate - 7.7% YoY compared to the submarket’s five- and ten-year averages (5.5% and 4.3%, respectively), continuing a trend that is now 52 straight quarters of growth. CVS, with rent at just $18.68 PSF, is more than 20% below market - low occupancy cost comparatively with incentive to continue renewing.

HIGHLY PASSIVE, ABSOLUTE NNN LEASE | Lease features no landlord obligations, managerially or financially, offering a completely passive investment opportunity. Tenant is responsible for all expenses relating to the Property and the premises.

EXCELLENT ACCESS & VISIBILITY ON HARD, SIGNALIZED CORNER | The Property is positioned on the hard, signalized corner of Lawyers Road and Stevens Mill Road, offering four lanes of traffic where more than 23,000 vehicles pass daily.

SHADOW-ANCHORED BY HARRIS TEETER GROCERY WITH NEARBY HQ | The Property is a part of Stevens Mill Crossing, a 74,000 SF retail center which includes notable national retailers like McDonald’s, Firestone, and UPS, and headlined by Harris Teeter, a large grocery chain in the Mid-Atlantic and Southeast that is owned by the Kroger Co. and has its HQ just ten minutes away.

DENSE, AFFLUENT DEMOGRAPHICS IN GROWING MARKET | The Property benefits from exceptional demographics with a population of nearly 78,000 within five miles and average household incomes in excess of $161,300 within one mile. The city of Matthews has been one of the fastest-growing cities in North Carolina over the last few decades – double-digit growth in every decade since 1970; 1,686% growth since 1980; 8.9% growth since 2020. It was recently ranked the #1 economy in the state by Consumer Affairs based on its low poverty/unemployment and strong home appreciation.

NORTH CAROLINA INVESTMENT OPPORTUNITY | North Carolina consistently ranks as a top U.S. state for business and earned the #1 spot on CNBC’s “America’s Top States for Business” list in 2025, as well as in 2023 and 2022, due to its strong workforce, economy, infrastructure and business-friendly environment. The state often finishes in the top few positions, demonstrating a well-rounded performance across key metrics like education, cost of doing business and innovation, making it a leader in economic development and an attractive market for CRE investment.

LARGE PARCEL CREATES HIGH RESIDUAL VALUE | The Property is a large, oversized ±2.24-acre out-parcel that is roughly 25% bigger than the average drugstore parcel. This, combined with the hard, signalized corner location and the strength of the local market, creates superior residual value for an owner.