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    129 Nine Foot Rd Newport, NC 28570

    Sponsored
    For Sale
    $1,115,136

    High-yield retail pharmacy, strong tenant.

    Property size:
    2,834 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 2,834-square-foot CVS Pharmacy located at 129 Nine Foot Rd, Newport, NC 28570. Built in 2011, this property boasts a strong 6.25% cap rate and a substantial net operating income (NOI) of $69,696. The asking price is $1,115,136. Situated in a thriving retail corridor alongside national brands like Walmart, Food Lion, Subway, First Citizens Bank, Dollar General, and Bojangles, this location benefits from high visibility and significant foot traffic. The pharmacy enjoys a high script count and benefits from limited competition—being the only national brand pharmacy within a 10-mile radius. The property features a favorable option structure with a 10% increase in the next option period, beginning December 1st, 2024. This CVS location represents a secure and profitable investment in a desirable market. The property's strong tenant, CVS, holds a prominent position as the 5th ranked company on the Fortune 500 list, further solidifying its financial stability and long-term viability.

    Property Features for 129 Nine Foot Rd

    General Information

    Property type
    Individual retail properties
    Square Feet
    2,834 SF

    Building Details

    Year Built
    2011

    HighLights

    • 2,834 SF CVS Pharmacy in high‑traffic retail corridor with Walmart, Food Lion, and other national tenants.
    • Investment‑grade tenant: CVS, ranked #5 on the Fortune 500.
    • Lease extension begins December 1, 2024, with a 10% rent increase.
    • Favorable option structure with 10% rent increases in subsequent option periods.
    • High‑volume pharmacy with limited competition (only national brand pharmacy within 10 miles).
    • Strong cap rate of 6.25% and NOI of $69,696.
    Property Profile Location Intelligence

    Current Use by Public Records

    CVS Photo Passport Photo Processor CVS Drug Store CVS Pharmacy Pharmacy Coinhub Bitcoin ATM ... Atm

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Newport
    County
    Carteret
    State
    North Carolina
    Longitude
    -76.877245504755
    Latitude
    34.788966176695

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    FAQs

    What type of property is this?
    Individual retail property - High-yield retail pharmacy, strong tenant.
    Where is this individual retail property located?
    The property is located at 129 Nine Foot Rd Newport, NC.
    What is the asking price?
    The asking price for this property is $1,115,136.
    What are key features of this property?
    This property features: 2,834 SF CVS Pharmacy in high-traffic retail corridor with Walmart, Food Lion, and other national tenants.; Investment-grade tenant: CVS, ranked #5 on the Fortune 500.; Lease extension begins December 1, 2024, with a 10% rent increase.
    Request Owner's contact information
    129 Nine Foot Rd Newport, NC 28570
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    Newport, NC 28570
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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
    129 Nine Foot Rd Newport, NC 28570
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