402 Main St Rolesville, NC 27571-9663

This exceptional investment opportunity presents a fee-simple, Class A, 13,824 square foot CVS Pharmacy located at 402 S Main St, Rolesville, NC 27571. The property sits on a 1.74-acre lot and boasts a strong 5.93% cap rate with a Net Operating Income (NOI) of $308,490. The absolute NNN lease with CVS Health, a Fortune 500 company, features a remaining term of 12.2 years, expiring January 30, 2037, with multiple 5-year renewal options and rent bumps in each option. The property benefits from a high-traffic location at the signalized intersection of S Main Street (15,000 vehicles per day) and Rogers Road (9,000 vehicles per day) in Rolesville, NC, within the Raleigh-Durham-Cary MSA. Rolesville is experiencing explosive growth, having grown over 150% between 2010 and 2020, with over 2,400 dwelling units currently under construction or review. Population growth within a 3-mile radius is projected at nearly 12% between 2023 and 2028. The property enjoys strong retail synergy, surrounded by national retailers including Food Lion, McDonald's, AutoZone, Dollar General, Sonic, and future locations of Publix, 7-Eleven, and Bojangles. The asking price is $5,200,000 ($376.16 per square foot), making this an ideal 1031 exchange opportunity. The property is 100% occupied and built in 2005.