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- LoopNet Team
5712 Castle Hayne Rd
Castle Hayne, NC 28429
CVS | New 20 Year Lease | No Rent Holiday · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Corporate Backed Long Term Lease – CVS signed a new 20 year lease underscoring their long term commitment to the site
- BBB Credit Rating by Standard & Poor’s – Tenant is publicly traded on the NYSE and reported annual revenues in excess of $209 billion in 2019
- Only Drug Store in the Immediate Area – No direct competition in a five mile radius from either Walgreens or Rite Aid
- Absolute Net Lease Structure – Zero landlord responsibilities for operating or capital expenses
- Excellent Exposure Along Main Traffic Corridor – Daily traffic counts exceed 19,500 vehicles along Castle Hayne Road
- Hard Corner Location with Drive-Thru – Easily accessible via the main traffic corridor connecting Castle Hayne with the greater Wilmington area
PROPERTY FACTS
AMENITIES
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Drive Thru
ABOUT 5712 CASTLE HAYNE RD , CASTLE HAYNE, NC 28429
The subject property is an 8,450 square foot CVS located in Castle Hayne, North Carolina. CVS has shown long term commitment to the site having executed a new 20 year firm lease term which runs through 2039. The lease is structured with five percent rent increases between each of the four 5-year renewal options. The lease is absolute net providing for zero landlord responsibilities. CVS, which is publicly traded on the New York Stock Exchange under the ticker symbol “CVS”, has a current BBB credit rating by Standard & Poor’s and reported annual revenues in excess of $209 billion in 2019. Located at the intersection of Castle Hayne Road and Holly Shelter Road, the subject property features excellent exposure along the area’s main traffic corridor with daily traffic counts in excess of 19,500 vehicles. National retailers in the immediate area include Fresh Foods IGA, Hardee’s, Dollar General, Circle K, BB&T Bank and many more. The site features a drive-thru and access points via Castle Hayne Road and Blossom Street.
PROPERTY TAXES
| Parcel Number | R01113-005-005-000 | Improvements Assessment | $3,945,200 |
| Land Assessment | $428,800 | Total Assessment | $4,374,000 |
PROPERTY TAXES
