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6110 Theplaza Charlotte, NC 28215

Sponsored
For Sale
$3,523,361

High-yield CVS Pharmacy, strong tenant.

Property size:
12,608 SF

Description

Added:
Dec 11, 2024
Days on Market:
392
This exceptional investment opportunity presents a freestanding CVS Pharmacy located in Charlotte, North Carolina. The property boasts a substantial 12,608 square feet situated on a 1.43-acre lot at a signalized intersection, ensuring high visibility and accessibility. Currently operating under a Net Lease (NN) agreement with CVS Pharmacy, the property offers a strong, corporate-guaranteed tenancy with a remaining lease term of approximately 1.6 years. The lease commenced April 3, 1995, and expires June 29, 2026, including two 5-year renewal options with 5% rent increases each. A recent 5-year renewal with a 10% increase demonstrates CVS's long-term commitment to this location. The property's Net Operating Income (NOI) is $209,640, resulting in a compelling 6.00% capitalization rate. Built in 1996, this strategically positioned property benefits from its proximity to Cochrane Collegiate Academy, a magnet school serving grades 6-12, contributing to a loyal customer base within a densely populated area (95,611 residents within a three-mile radius). The asking price is $3,523,361. This property is also available as part of a larger nine-property portfolio. The low replaceable rent makes this a particularly attractive investment. The address is 6110 The Plaza, Charlotte, NC 28215.

Property Features for 6110 Theplaza

General Information

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

Building Details

Year Built
1996

HighLights

  • Freestanding CVS Pharmacy with a recent 5‑year lease renewal including a 10% rent increase.
  • Two 5‑year renewal options remain, each with a 5% rent increase.
  • High‑visibility location at a signalized intersection in a densely populated area (95,611 residents within 3 miles).
  • Strong customer base due to proximity to Cochrane Collegiate Academy, a magnet school (grades 6‑12).
  • Located at 6110 The Plaza, Charlotte, NC 28215, on a 1.43‑acre lot with a 12,608 square foot building.
  • Rare opportunity with low replaceable rent.
Property Profile Location Intelligence

Current Use by Public Records

Retail space

Map

City
Charlotte
County
Mecklenburg
State
North Carolina
Longitude
-80.7515375
Latitude
35.2475456

FAQs

What type of property is this?
Individual retail property - High-yield CVS Pharmacy, strong tenant.
Where is this individual retail property located?
The property is located at 6110 Theplaza 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 Pharmacy with a recent 5-year lease renewal including a 10% rent increase.; Two 5-year renewal options remain, each with a 5% rent increase.; High-visibility location at a signalized intersection in a densely populated area (95,611 residents within 3 miles).
More about this property
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