Current Use by Public Records
- Retail properties & Spaces
Property Details for 6110 Theplaza
- Year built
- 1996
- Lot size
- 1.43 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
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.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Charlotte
- County
- Mecklenburg
- State
- North Carolina
- Longitude
- -80.7515
- Latitude
- 35.2475
