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    1801 Milton Rd Charlotte, NC 28215

    Sponsored
    For Sale
    $3,523,361

    High-yield, net-leased CVS pharmacy.

    Property size:
    12,608 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a freestanding CVS Pharmacy in Charlotte, NC, offering a compelling combination of stability and growth potential. The 12,608 square foot building, constructed in 1996, sits on a 1.43-acre lot at a signalized intersection, ensuring high visibility and accessibility. Currently operating under a net lease agreement with a corporate guarantee from CVS, the property boasts 100% occupancy since its opening on April 4, 1995. The lease, expiring June 30, 2026, includes two five-year renewal options with a 5% rent increase for each. Landlord responsibilities are limited to exterior maintenance and roof repairs. The property's strong financial performance is highlighted by a 6.00% cap rate and a net operating income (NOI) of $209,640, with an asking price of $3,523,361 ($279.45/sq ft). Benefiting from its location in a densely populated area (95,611 residents within a three-mile radius) and its proximity to Cochrane Collegiate Academy, this CVS enjoys a loyal customer base and a strategic position within the Charlotte market. The property's low replaceable rent further enhances its investment appeal. This offering presents a rare opportunity to acquire a high-performing, net-leased asset with a strong tenant and significant remaining lease term.

    Property Features for 1801 Milton Rd

    General Information

    Property type
    Individual retail properties
    Square Feet
    12,608 SF
    Lot Size
    62,291 SF

    Building Details

    Year Built
    1996
    Buildings
    1
    Stories
    1

    HighLights

    • Recent 5‑year lease renewal with CVS, demonstrating strong tenant commitment.
    • Two, 5‑year renewal options with 5% rent increases each.
    • 61,000 square foot lot.
    • High‑visibility corner location in a densely populated area.
    • Excellent location for strong customer base.
    • Adjacent to Cochrane Collegiate Academy (grades 6‑12).
    Property Profile Location Intelligence

    Current Use by Public Records

    Drug stores

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.75155
    Latitude
    35.247546

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    FAQs

    What type of property is this?
    Individual retail property - High-yield, net-leased CVS pharmacy.
    Where is this individual retail property 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: Recent 5-year lease renewal with CVS, demonstrating strong tenant commitment.; Two, 5-year renewal options with 5% rent increases each.; 61,000 square foot lot.
    Request Owner's contact information
    1801 Milton Rd Charlotte, NC 28215
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    Realmo Value Estimation

    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.

    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.

    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
    1801 Milton Rd Charlotte, NC 28215
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