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CVS 5712 Castle Hayne Rd 12,062 SF Retail Building Castle Hayne, NC 28429 $3,325,000 ($275.66/SF) 5.87% Cap Rate
Investment Highlights
- Long term absolute NNN lease with 13.5+ years remaining and no rent holiday.
- Consistent, strong population growth surrounding the property and the entire Wilmington MSA.
- Directly across from CVS, Circle K recently expanded their building and signed a new 15-year lease
- Corporate guarantee from investment grade tenant (BBB).
- Located on a signalized intersection with 18,280 VPD.
Executive Summary
Transwestern is pleased to exclusively offer for sale a single tenant CVS Pharmacy in Castle Hayne, NC. CVS signed a rare, 20-year extension in 2019 on their absolute NNN lease, with no rent holiday. The property sits on 2.20 acers and is located at a signalized intersection with strong traffic counts. The immediate area is experiencing a significant population boom, with thousands of residential units currently proposed for development. CVS is the only pharmacy within a five-mile radius and will capitalize on the population increase. CVS had a record revenue year in 2025, generation $402.1 billion, up 7.8% compared to 2024. CVS is #6 on the Fortune 500 with strong earnings and solid guidance.
Broker of Record
Bradley Fulkerson
NC Lic #281422
Broker of Record
Bradley Fulkerson
NC Lic #281422
Property Facts
Sale Type
Investment NNN
Sale Conditions
Property Type
Retail
Property Subtype
Drug Store
Building Size
12,062 SF
Building Class
C
Year Built
2007
Price
$3,325,000
Price Per SF
$275.66
Cap Rate
5.87%
NOI
$195,200
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
2.20 AC
Zoning
B-2
Parking
50 Spaces (4.15 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Drive Thru
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | R01113-005-005-000 | Improvements Assessment | $3,945,200 |
| Land Assessment | $428,800 | Total Assessment | $4,374,000 |
Property Taxes
Parcel Number
R01113-005-005-000
Land Assessment
$428,800
Improvements Assessment
$3,945,200
Total Assessment
$4,374,000
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CVS | 5712 Castle Hayne Rd
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