Entity Owned Property summary
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 profile
VerifiedCap rate & NOI
Current use
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(Bike/Boat/Book/etc) Store
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Pharmacy
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Pharmacy
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Atm
Location
Value estimations
Owner & transaction history
Zoning & alternative use
k. CH-CD. l. LI-CD. m. IW-CD. Ord. 2021-02, passed 6-14-21) Share Download Bookmark Print § 6-2.6 PLANNED UNIT DEVELOPMENT DISTRICT. a. General. The Planned Unit Development District (PUD) is a special purpose Conditiona…
Comparables
6 recent transactions · within 1.5 miComparable in this City
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Value estimation
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Cap rate
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Price sensitivity
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Property tax & assessments
Tax year 2022Property description
Physical attributes from public recordsZoning & alternative use
CH · Newport, NCk. CH-CD. l. LI-CD. m. IW-CD. Ord. 2021-02, passed 6-14-21) Share Download Bookmark Print § 6-2.6 PLANNED UNIT DEVELOPMENT DISTRICT. a. General. The Planned Unit Development District (PUD) is a special purpose Conditiona…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
k. CH-CD. l. LI-CD. m. IW-CD. Ord. 2021-02, passed 6-14-21) Share Download Bookmark Print § 6-2.6 PLANNED UNIT DEVELOPMENT DISTRICT. a. General. The Planned Unit Development District (PUD) is a special purpose Conditiona…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for CH in Newport, NC.
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