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    Property profile & analytics

    5712 Castle Hayne Rd Castle Hayne, NC 28429

    • Drug stores
    • 11,941 SF
    • 1.87 lot acres
    For Sale
    View listing
    $3,718,095
    Last Sale
    May 11, 2022
    $4,244,000
    Value Estimations
    Cap Rate Potential
    3.3%
    Drug stores
    Location Intelligence
    Property ID
    US53-2130286
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • LibertyX Bitcoin ATM / Atm
    • CDReload - Online Bitcoin ATM / Atm / Crypto Atm
    • CVS Photo / Photo Shop / Print Shop
    • CDReload Instant Bitcoin / Crypto Atm
    • CVS / Beer Store / Convenience Store

    Property Details for 5712 Castle Hayne Rd

    Year built
    2007
    Construction
    STEEL FRAME
    Lot size
    1.87 lot acres
    Property size
    11,941 SF
    Zone code
    B-2,BUSINESS DISTRICT
    Property type
    Drug stores
    APN
    R01113-005-005-000
    APU
    R01113005005000

    Description

    This exceptional investment opportunity presents a fee-simple, 12,062 square foot CVS Pharmacy in Castle Hayne, NC. The property boasts a strong 5.25% cap rate and a substantial net operating income (NOI) of $195,200. Situated on a 2.2-acre lot at a signalized intersection with high traffic volume (18,280 VPD), this single-tenant, absolute NNN lease offers significant long-term stability. The lease, with a corporate guarantee from a credit-rated tenant, commenced December 1, 2019, and extends for a total of 20 years, leaving 15 years remaining. Rent bumps are included in the lease structure, providing further income growth potential. The property benefits from its location within a rapidly growing area, with thousands of new residential units planned for development. Its proximity to a major employer, General Electric Aviation, further enhances its value. The absence of rent holidays and the 8 x 5-year lease options add to the investment's appeal. Built in 2007, this CVS Pharmacy is the only one within a five-mile radius, ensuring its continued success in serving the expanding community. This is a rare opportunity to acquire a high-performing, low-maintenance retail investment with significant upside potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,095,000
      ML approach
      $5,130,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,754,000
      Market price range: $1.97M - $5.75M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Castle Hayne
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.8994
    Latitude
    34.3541
    CBSA code
    48900
    CBSA name
    WILMINGTON, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $14,377
    $158,600
    $3,032,300
    $3,190,900
    -
    $158,600
    $3,032,300
    $3,190,900

    Comparable in this City

    • Value Estimation
      $1,075,000
      1,275 SF

      1915 County N Dr, Unit 120

      RETAIL STORES (PERSONAL SERVICES) • 1,275 SF
      1915 County N Dr, Castle Hayne, NC 28429-5669
      View Details
    • Value Estimation
      $290,000
      1,364 SF

      6406 Castle Hayne Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,364 SF
      6406 Castle Hayne Rd, Castle Hayne, NC 28429-5009
      View Details
    • Value Estimation
      $1,075,000
      1,275 SF

      1915 County N Dr, Unit 130

      RETAIL STORES (PERSONAL SERVICES) • 1,275 SF
      1915 County N Dr, Castle Hayne, NC 28429-5670
      View Details
    • Value Estimation
      $1,075,000
      1,275 SF

      1915 County N Dr, Unit 140

      RETAIL STORES (PERSONAL SERVICES) • 1,275 SF
      1915 County N Dr, Castle Hayne, NC 28429-5671
      View Details
    • Value Estimation
      $1,075,000
      1,326 SF

      1915 County N Dr, Unit 170

      RETAIL STORES (PERSONAL SERVICES) • 1,326 SF
      1915 County N Dr, Castle Hayne, NC 28429-5674
      View Details
    • Value Estimation
      $245,000
      1.26 Acres

      5610 Castle Hayne Rd

      FINANCIAL BUILDING • 1.26 Acres
      5610 Castle Hayne Rd, Castle Hayne, NC 28429-5111
      View Details

    Similar Nearby for Sale

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      CVS Pharmacy Investment Opportunity

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      View Details
    • $2,500,000
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      Castle Hayne Road Opportunity

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    • $900,000

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    • $260,000
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    Similar Nearby for Lease

    • $15 SF/Yr
      9,000 SF

      Castle Hayne Flex Space Available

      9,000 SF flex space for lease in Castle Hayne.
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      View Details
    • $0.60 SF/Yr

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      2.93 acre lay down yard for rent.
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      View Details
    • $1.00 SF/Yr
      127,631 SF

      Castle Hayne Lay Down Yard For Sale

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    • $15 SF/Yr
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    Castle Hayne, NC 28429
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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