Listed by Colliers - Fort Lauderdale, Florida
$3,523,361
CVS/Pharmacy
Details
Property Type Retail
Sub Type Pharmacy/Drug, Storefront
Square Footage 12,608
Cap Rate 6.00%
NOI $209,640
Occupancy 100%
Tenancy Single
Brand/Tenant CVS Pharmacy
Lease Type NN
Lease Expiration 06/29/2026
Remaining Term 0.1
Year Built 1996
Acreage 1.430
Rent Commencement 04/03/1995
Retail | 6% CAP | 12,608 SF
Marketing description
The Twist Capital Team of Colliers is pleased to offer for sale, to qualified investors, the opportunity to acquire this freestanding CVS located in Charlotte, North Carolina. This ±12,608 SF building is situated on approximately 1.5 acres, occupied by CVS with a corporate guarantee. The asset is located at a signalized intersection and offers excellent accessibility and visibility. The building is situated in Charlotte, a dominant market, and serves the local trade area with a population of 95,611 within a three mile radius. The Property can be purchased in conjuction with additional net-leased retail properties comprised of a nine-property portfolio.
Investment highlights
- Recent 5-year renewal with a 10% increase showing CVS’ commitment to the site
- Two, 5-year renewal options with 5% increases
- Strategically situated on a signalized hard corner in a dense population area
- Location allows for CVS to have a loyal customer base within the immediate area
- Directly in front of the Cochrane Collegiate Academy, a magnet school that serves grades 6-12
- Rare, low replaceable rent
Listing Contacts
Listed by Colliers - Fort Lauderdale, Florida
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$209,640.00
$17,470.00/mo
Valuation Metrics
0
DSCR
5.95%
Cap Rate
5.95%
ROI
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