Net Leased CVS Pharmacy
8765 HWY 52 Rockwell, NC 28138
8765 HWY 52, Rockwell, NC, 28138
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For Sale
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Single tenant CVS in Rockwell, NC with long-term lease.
Property Size13,573 SF
Price / SF$209.65
Days on Market65
Property Features for 8765 HWY 52
General Information
- Standard status
- Active
- Size
- 13,573 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2008
Listing Agency
Bang Realty
(888) 737-2264
Listed by
Brian Brockman · License #701472
Source
Crexi
Added: May 13 Checked: Jul 16 at 4:42 am
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
Investment Insights
Based on property information with market context.
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.
Key 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.
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
NOI $166,630 @ 7.0% cap · market cap 5.86%
Second Best
Specialty Retail
$1.12M
$979.1K – $1.31M
NOI $78,327 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$4.27M
$3.74M – $4.98M
NOI $299,040 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Drug stores
Similar Off Market 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
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.
