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CVS 274 N Main St 11,487 SF Retail Building Mooresville, NC 28115 $3,238,000 ($281.88/SF) 6.50% Cap Rate
Investment Highlights
- Corporately guaranteed by CVS Health Corporation (NYSE: CVS), market cap exceeding $120 billion.
- 6.50% cap rate on $210,500 NOI; double net (NN) lease structure.
- Annual population growth exceeding 2.5% within a 5-mile radius since 2020.
- ±11 years remaining base term with five (5) 5-year options and 5% rental increases.
- Average household income exceeds $120,000 within a 5-mile radius.
- Highly visible Main Street location in historic downtown Mooresville with consistent foot traffic.
Executive Summary
Gerard Hamas
Matthews of North Carolina, LLC
362768, C42113 (NC)
307 W. Tremont Ave., Ste 200, Charlotte, NC 28203 (866) 889-0550
Property Facts
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- -
CVS Pharmacy began in 1963 as Consumer Value Stores in Lowell, Massachusetts, and the CVS name followed the next year. Pharmacies were added to CVS stores in Cranston, Rhode Island, and the business later became part of CVS Health, which expanded the enterprise into retail pharmacy, prescription benefits, and related health services. CVS Pharmacy operates as a retail pharmacy chain with neighborhood, mail-order, and specialty pharmacy services, plus prescription delivery and savings support. The company sells over-the-counter medicines, beauty products, seasonal merchandise, and convenience foods, and offers in-store and virtual care through MinuteClinic and related services.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - |
Nearby Major Retailers
Property Taxes
| Parcel Number | 4667-12-7674.000 | Improvements Assessment | $2,210,510 |
| Land Assessment | $1,084,370 | Total Assessment | $3,294,880 |
Property Taxes
Presented by
CVS | 274 N Main St
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