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    Net Leased CVS Pharmacy Property Title is generated by Realmo AI

    8765 HWY 52, Rockwell, NC 28138

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    Single tenant CVS in Rockwell, NC with long-term lease.

    Type:Retail
    Property size:
    13,573 SF
    Price / SF:
    $209/SF
    Added:
    May 13, 2026
    Days on Market:
    20
    Last Refresh:
    May 16 at 8:43 pm

    Property Features for 8765 HWY 52

    General Information

    Standard status
    Active
    Size
    13,573 SF
    Property subtype
    Retail

    Building Details

    Year Built
    2008

    We can help!

    Listing Contact
    Brian Brockman
    Brian Brockman

    Listing agent Brian Brockman License #BRK.200900214

    Listing office Bang Realty

    Listing date May 13, 2026

    Source Crexi

    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 Bang Realty

    HighLights

    • Long‑term lease with CVS extending through December 2037, providing stable income.
    • Absolute triple‑net lease structure with zero landlord responsibilities.
    • Corporate guaranty from CVS Health Corporation, an investment‑grade tenant rated “BBB” by Standard & Poor’s.
    • Favorable lease terms including 5% rental escalations in each of the eight 5‑year renewal options.
    • Low absolute rent of $175,000 annually, below comparable national pharmacy locations.
    • Located on US Highway 52 with traffic counts exceeding 12,500 vehicles per day and surrounded by national retailers.

    Overview

    This single tenant net leased CVS Pharmacy property is located within the Charlotte MSA in Rockwell, North Carolina. The property has been successfully operating at this location since its construction in 2008. CVS committed to a long-term lease in 2022 extending through December 2037. The absolute triple-net structure carries zero landlord responsibilities and includes 5% rental escalations in each of the eight 5-year renewal options. The lease is backed by a corporate guaranty from CVS Health Corporation, an investment-grade tenant rated “BBB” by Standard & Poor’s. CVS pays a low absolute rent of $175,000 annually. The 13,573 square-foot building is positioned along US Highway 52, benefiting from traffic counts exceeding 12,500 vehicles per day. The surrounding area supports an average household income exceeding $97,000 within a five-mile radius. Neighboring tenants include Food Lion, McDonald’s, AutoZone, Sonic Drive-In, Ace Hardware, O’Reilly Auto Parts, and Dollar General. Rowan County continues to attract significant economic investment, with recent commitments including Macy’s 1.4-million-square-foot fulfillment center in China Grove, a Chewy fulfillment center, and Jabil Inc.’s $500+ million manufacturing facility.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $257.3k $18.96
    − Vacancy −$19.3k −$1.42
    EGI $238.0k $17.54
    − OpEx −$71.4k −$5.26
    NOI $166.6k $12.28
    13,573 SF · lease $18.96/SF/yr · vacancy 7.50% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $2.38M
    $2.08M – $2.78M (±1% cap)
    NOI $166,630 @ 7.0% cap · market cap 5.86%
    Second Best
    Specialty Retail
    $1.12M
    $979.1K – $1.31M (±1% cap)
    NOI $78,327 @ 7.0% cap · market cap 2.75%
    Theoretical Best
    Office A
    $4.27M
    $3.74M – $4.98M (±1% cap)
    NOI $299,040 @ 7.0% cap · market cap 10.51%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Drug stores

    Suggested Use

    Restaurant Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Gym & Fitness Center

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

    Similar Places Nearby

    • CVS Pharmacy — 8765 US-52, Rockwell, NC 28138
    • COUNTRY PHARMACY INC — 610 W Main St a, Rockwell, NC 28138
    • Kelly M. Taylor, RPh — 8765 US-52, Rockwell, NC 28138

    Location Insight

    • Map
    • Local Demand
    City
    Rockwell
    County
    Rowan
    State
    North Carolina
    Longitude
    -80.415418
    Latitude
    35.5613

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    FAQs

    What type of property is this?
    Drug store - Single tenant CVS in Rockwell, NC with long-term lease.
    Where is this drug store located?
    The property is located at 8765 HWY 52 Rockwell, NC.
    What is the asking price?
    The asking price for this property is $2,845,528.
    What are key features of this property?
    This property features: Long‑term lease with CVS extending through December 2037, providing stable income.; Absolute triple‑net lease structure with zero landlord responsibilities.; Corporate guaranty from CVS Health Corporation, an investment‑grade tenant rated “BBB” by Standard & Poor’s.
    (888) 737-2264 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Brian Brockman
    Brian Brockman
    Real Estate License ID: BRK.200900214
    Learn More
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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
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    8765 HWY 52, ROCKWELL, NC
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