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Drug Store

CVS Drug Store - Below Market Rent -Leased Thru 2038

4553 Main St, Shallotte, NC 28470

Listing Price: $3,361,000

Cap Rate
5.25%
Tenant Name
CVS
Years Remaining On Lease
13.7
Gross SF
10,125
Guarantor
Corporate Guarantee
Rentable SF
10,125
Price/Gross SF
$331.95
Lease Type
Double Net
Rent Per Square Feet
$17.43

Investment Overview

The subject offering a 10,125 SF single-tenant net-leased CVS Drug Store located at 4553 Main Street in Shallotte, NC. CVS operates on a NN lease, with the landlords’ only responsibility being for roof and structure. CVS is Paying a Below-Market Rent Here. The Rent is Completely Replaceable/Below Market-Value. Their lease runs through 1/31/2038, with five (5) five-year options to renew. The property rests on a 1.8 acre corner parcel, that sits as an outparcel to a Home Depot-anchored shopping center. The property is located right in the heart of the main retail corridor in Shallotte. The property is surrounded by national retailers including Walmart, Walgreens, Hobby Lobby, Marshall’s, Chick-Fil-A, Circle K, Starbuck’s and McDonald’s.

Shallotte is located in Brunswick County, only 12 miles from North Carolina’s coastal beaches. It is the main commercial hub for all of North Carolina’s South Brunswick Islands, and it is located directly between Wilmington (NC) and Myrtle Beach (SC), with either city being approximately a 35-minute drive time away. Shallotte’s population has grown 142% since 2000, and the city is in top 2% for population growth in North Carolina.


The property has a corporate guaranty from CVS Health, number six on the Fortune 500 list. CVS Health is the leading pharmacy health provider with more than 9,000 retail pharmacy locations and 1,100 medical clinics. CVS Health reported revenue of $330 Billion last year, and they have a rating of “BBB” by Standard & Poors

Investment Highlights

  • 10,125 SF Single-Tenant Net-Leased CVS Drugstore - NN Leased Through 2038. CVS is paying $17.60 PSF - Below the Rents Being Paid for the Inline Spaces Behind the Site and Across the Street.
  • CVS has Been Here Since 1999 - 14 Years Remaining With Five (5) Five-Year Options to Renew.
  • The Best Retail Location in Shallotte. This Site is an Outparcel to a Home Depot Anchored Center, and it is Directly Across From Walmart, Ross, Marshall's and Starbuck's.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s) NC: 303785

    North Carolina

Drug Store

CVS Drug Store - Below Market Rent -Leased Thru 2038

Listing Price: $3,361,000

Cap Rate
5.25%
Tenant Name
CVS
Years Remaining On Lease
13.7
Gross SF
10,125
Guarantor
Corporate Guarantee
Rentable SF
10,125
Price/Gross SF
$331.95
Lease Type
Double Net
Rent Per Square Feet
$17.43

Investment Highlights

  • 10,125 SF Single-Tenant Net-Leased CVS Drugstore - NN Leased Through 2038. CVS is paying $17.60 PSF - Below the Rents Being Paid for the Inline Spaces Behind the Site and Across the Street.
  • CVS has Been Here Since 1999 - 14 Years Remaining With Five (5) Five-Year Options to Renew.
  • The Best Retail Location in Shallotte. This Site is an Outparcel to a Home Depot Anchored Center, and it is Directly Across From Walmart, Ross, Marshall's and Starbuck's.

Investment Overview

The subject offering a 10,125 SF single-tenant net-leased CVS Drug Store located at 4553 Main Street in Shallotte, NC. CVS operates on a NN lease, with the landlords’ only responsibility being for roof and structure. CVS is Paying a Below-Market Rent Here. The Rent is Completely Replaceable/Below Market-Value. Their lease runs through 1/31/2038, with five (5) five-year options to renew. The property rests on a 1.8 acre corner parcel, that sits as an outparcel to a Home Depot-anchored shopping center. The property is located right in the heart of the main retail corridor in Shallotte. The property is surrounded by national retailers including Walmart, Walgreens, Hobby Lobby, Marshall’s, Chick-Fil-A, Circle K, Starbuck’s and McDonald’s. Shallotte is located in Brunswick County, only 12 miles from North Carolina’s coastal beaches. It is the main commercial hub for all of North Carolina’s South Brunswick Islands, and it is located directly between Wilmington (NC) and Myrtle Beach (SC), with either city being approximately a 35-minute drive time away. Shallotte’s population has grown 142% since 2000, and the city is in top 2% for population growth in North Carolina. The property has a corporate guaranty from CVS Health, number six on the Fortune 500 list. CVS Health is the leading pharmacy health provider with more than 9,000 retail pharmacy locations and 1,100 medical clinics. CVS Health reported revenue of $330 Billion last year, and they have a rating of “BBB” by Standard & Poors

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s): NC: 303785

    North Carolina

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