Freestanding CVS in Charlotte,
1801 Milton Rd, Charlotte, NC 28215
For Sale
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Freestanding CVS in Charlotte, NC with corporate guarantee.
Property Size12,608 SF
Lot Size1.50 Acres
Price / SF$279.45
Days on Market1636
Property Features for 1801 Milton Rd
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Lease Type
Investment Type
Net Operating Income
Site & Location
Neighborhood
Building Details
Year Built
Buildings
Stories
Tenancy
Listing Agency:
Colliers - Fort Lauderdale, Florida
Listed By:
Christopher Twist · License #FL
(561) 602-8390
Source:
Crexi
Added: May 19, 2022
Changed: Nov 6
Last Checked: Nov 8 at 7:01AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Colliers - Fort Lauderdale, Florida
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Investment Insights
Based on property information with market context.
This freestanding commercial property is a ±12,608 square foot building situated on approximately 1.5 acres in Charlotte, North Carolina. The property is occupied by CVS, with a corporate guarantee. The lease expires on June 30, 2026, and includes two five-year renewal options with 5% increases for each renewal period. The landlord is responsible for the exterior and roof of the property. Located at a signalized intersection, the property offers accessibility and visibility. The building is situated in a dominant market and serves a local trade area with a population of 95,611 within a three-mile radius.
Key Highlights
- Freestanding CVS with corporate guarantee.
- Located at a signalized intersection with excellent accessibility and visibility.
- Located in Charlotte, a dominant market, with a population of 95,611 within a 3‑mile radius.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$226,174
Cap Rate
6.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,523,480
$4.5M
Cap Rate 7%
$3,231,057
$3.2M
Cap Rate 9%
$2,513,044
$2.5M
Market Conditions
NOI Build-Up for 12,608 SF
Gross rent
$310.2K $24.60/SF
− Vacancy
−$8.6K −$0.68/SF
EGI
$301.6K $23.92/SF
− OpEx
−$75.4K −$5.98/SF
NOI
$226.2K $17.94/SF
Area
ZIP 28215
Vacancy
2.77%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,523,480
Cap Rate 7%
$3,231,057
Cap Rate 9%
$2,513,044
Alternative Uses
Best Use
Specialty Retail
$3.23M
$2.83M – $3.77M
NOI $226,174 @ 7.0% cap · market cap 6.42%
Second Best
Retail
$3.02M
$2.64M – $3.52M
NOI $211,096 @ 7.0% cap · market cap 5.99%
Theoretical Best
Office A
$3.97M
$3.47M – $4.63M
NOI $277,779 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
319
Businesses Nearby
29k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 68%
Dining 26%
Electronics 6%
Family Dollar
Shops & Services
9,353 visits/mo
0.2 miles
Popeyes Louisiana Kitchen
Dining
6,883 visits/mo
0.1 miles
Citgo
Shops & Services
3,405 visits/mo
0.2 miles
Shell
Shops & Services
3,314 visits/mo
0.2 miles
PLS Financial Services
Shops & Services
3,312 visits/mo
0.1 miles
Demographics for 28215, NC
61,842
Population
25,350
Households
2.4
Avg Household Size
35
Median Age
31%
College-Educated
84%
High-School Grad
28.9 sq mi
ZIP Area
2,140
Density / Sq Mi
$66,065
Median Household Income
$37,904
Median Earnings
$1,349
Median Rent
$273,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Charlotte, NC
Similar Off Market Nearby
- CVS pharmacy — 6110 The Plaza, Charlotte, NC 28215
- Rx Care Pharmacy — 6018 The Plaza, Charlotte, NC 28215
- Aditya Parikh — 6018 The Plaza, Charlotte, NC 282152450
- Shashank Kommaraju — 6110 The Plaza, Charlotte, NC 282152402
- Itoro Ndoh — 6110 The Plaza, Charlotte, NC 282152402
Frequently Asked Questions
What type of property is this?
Drug store - Freestanding CVS in Charlotte, NC with corporate guarantee.
Where is this drug store located?
The property is located at 1801 Milton Rd Charlotte, NC.
What is the asking price?
The asking price for this property is $3,523,361.
What are key features of this property?
This property features: Freestanding CVS with corporate guarantee.; Located at a signalized intersection with excellent accessibility and visibility.; Located in Charlotte, a dominant market, with a population of 95,611 within a 3‑mile radius.
