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    14600 Lawyers Rd Matthews, NC 28104

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    For Sale
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    NNN leased CVS Pharmacy in Matthews, North Carolina for sale.

    Property size:
    10,856 SF
    Lot size:
    2.24 Acres

    Property Features for 14600 Lawyers Rd

    General Information

    Standard status
    Active
    Size
    10,856 SF
    Lot size
    2.24 Acres

    Building Details

    Year built
    2001

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    Listing Contact
    Jason Powell
    Source: Crexi

    Listing Agency: Northmarq Capital, LLC Listing Agent: Jason Powell

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    CVS Pharmacy NNN Investment Opportunity

    The CVS Pharmacy, situated at 14600 Lawyers Road in Matthews, North Carolina, is available for acquisition. CVS has occupied this location since 2001 and has already exercised one renewal option. The Absolute NNN lease stipulates zero landlord responsibilities and includes no rent abatements or decreases throughout the remaining nine, five-year option periods. Positioned as an out-parcel within the Harris Teeter-anchored Stevens Mill Crossing retail development, a subsidiary of The Kroger Co., the property is located approximately 30 minutes southeast of Downtown Charlotte. The property benefits from its location on a signalized corner within a market experiencing substantial population and household income growth, with double-digit population increases recorded across six decades, including a 1,686% increase since 1980. Matthews was recently recognized as the top economy in North Carolina by Consumer Affairs, citing its low poverty and unemployment rates, coupled with strong home appreciation. CVS Health Corp. operates over 9,000 locations nationwide, employing around 300,000 individuals across the U.S., Washington D.C., and Puerto Rico. The company generates over $372 billion in annual revenue and holds the #5 position on the Fortune 500 list. The property size is 10,856 square feet. North Carolina is recognized as a top state for business, earning the #1 spot on CNBC’s “America’s Top States for Business” list in 2025, as well as in 2023 and 2022.
    Location Intelligence

    Current Use by Public Records

    CVS Pharmacy Pharmacy MoneyGram Bank Stephanie A. Bosquet, PharmD Pharmacy Redbox Cinema UPS Access Point ... Courier Service

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Stephanie A. Bosquet, PharmD, Drive-Thru Pharmacy Full Service, Cynthia Hundley, CVS Pharmacy

    Location Insight

    • Map
    • Local Demand
    City
    Matthews
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.62444
    Latitude
    35.142489

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    FAQs

    What type of property is this?
    Drug store - NNN leased CVS Pharmacy in Matthews, North Carolina for sale.
    Where is this drug store located?
    The property is located at 14600 Lawyers Rd Matthews, NC.
    What are key features of this property?
    This property features: - Absolute NNN lease with zero landlord responsibility and no rent holiday or rent decrease in any of the remaining nine, five-year options.; - Located on a hard, signalized corner in Matthews, NC, ranked the #1 economy in North Carolina.; - CVS Pharmacy has been at this location since 2001 and has already renewed once.
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    Matthews, NC 28104
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    14600 Lawyers Rd Matthews, NC 28104
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    Listing Contact
    Jason Powell
    Real Estate License ID: 313490
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