4307 Wilgrove Mint Hill Rd
Charlotte, NC 28227
Retail Property For Sale

The subject property is a freestanding 10,125 +/- sf NNN CVS located at the signalized intersection of Wilgrove Mint Hill Road and Matthews Mint Hill Road (31,000 +/- ADT) inside the Interstate 485 perimeter of Charlotte in Mint Hill, NC. Mint Hill is a high growth, high income suburb of Charlotte and is approximately 12 miles east of downtown. Charlotte is the 17th largest city and 22nd largest MSA in the United States, and the 2nd largest city in the Southeast. The city has become one of the fastest growing metros over the past 15 years with nearly 2.5 million citizens and the metro is expected to add nearly 235,000 more people through 2022. Charlotte has gained fame as the second largest banking and finance center in the U.S. and also boasts six Fortune 500 companies in the region: Bank of America, Lowe’s, Duke Energy, Nucor, Sealed Air, and Sonic Automotive. The area also has seen success with the University Research Park, the 7th largest research park in the country. The CVS is located in a high growth, high income area of Mint Hill. Over the next 5 years, the 1 and 3-mile populations are expected to increase nearly 20% (nearly 30,000 residents in 3 miles), and 15% in the 5-mile radius (to approximately 110,000 residents). In addition, the AHI in the 1-mile and 3-mile radius is over $85,000, and nearly $80,000 in the 5-mile. Directly across the street from the CVS is an Aldi anchored center and a Bank of America, and other retailers within approximately 1 mile include: Publix, Harris Teeter, Dollar Tree, Fifth Third Bank, UPS, Snap Fitness, GNC, Great Clips, and The Joint Chiropractic. CVS Health Corporation (NYSE: CVS) has occupied the subject property since 2000 and will execute a new 20-year extension at closing. CVS, with approximately 10,000 retail and specialty drugstores, posted revenue of $185 billion, net income of $6.6 billion, and a net worth of $37 billion in 2017.