Listed by Matthews
$1,621,000
CVS
Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 10,125
Cap Rate 5.25%
NOI $85,085
Tenancy Single
Brand/Tenant CVS Pharmacy
Lease Type NNN
Lease Term 23
Lease Expiration 01/31/2032
Remaining Term 5.8
Lease Options Eight, 5-Year Options
Price per SqFt $160
Year Built 2004
Acreage 1.860
Tenant Credit Corporate Guarantee
Lease Commencement 01/31/2004
Ground Lease No
CVS Ground Lease Investment - Wilson, NC Pharmaceutical Hub
Investment highlights
- Absolute NNN Lease: CVS ground lease investment in Wilson, North Carolina, offering passive ownership through an absolute NNN lease structure.
- Below-Market Rent: Below-market annual rent of $85,085 ($8.40 PSF) may provide favorable basis positioning relative to replacement cost and comparable net lease opportunities, subject to investor underwriting.
- Contractual Rent Growth: Lease includes favorable rental increases every five years, supporting contractual income growth over the hold period.
- Accessible Price Point: Offered at a sub-$2 million price point, presenting an accessible entry point for private investors, 1031 exchange buyers, and net lease capital seeking smaller check-size acquisitions.
- Substantial Land Component: Situated on a 1.86-acre parcel, providing a substantial land component relative to typical single-tenant retail pad developments.
- Retail Synergy: Property benefits from location directly across the street from Food Lion Center, supporting visibility and proximity to an established retail draw and strong traffic.
- Signalized Intersection: Positioned at a signalized intersection, which enhances site access, traffic flow, and overall retail functionality. ±43k VPD Airport Blvd + Nash St
- Essential-Use Tenancy: Retail asset backed by a nationally recognized pharmacy tenant, combining essential-use tenancy with a low-management lease structure and durable cash flow stability.
- Top Retail Corridor: Food Lion located directly across the street ranks within the top 15% nationally for visits per Placer.ai, reinforcing the strength of the surrounding retail corridor and consumer traffic patterns.
Listing Contacts
Listed by Matthews
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$85,085.00
$7,090.42/mo
Valuation Metrics
0
DSCR
5.25%
Cap Rate
5.25%
ROI
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