2035 N Sharon Amity Rd - Drug Store FOR SALE


Charlotte, NC 28205
$2,807,520 USD
619-297-0055
2035 N Sharon Amity Rd, Charlotte, NC for Sale
$2,807,520 USD
Drug Store - FOR SALE
1/2
null | 7.5% Cap Rate

2035 N Sharon Amity Rd
Charlotte, NC 28205


HIGHLIGHTS

  • CVS recently extended the lease an additional 10 years showing commitment to this location.
  • CVS closed a nearby store (3.9 Mi S) and transferred prescriptions to this location adding to customer base.
  • Monroe Road is one of the major thoroughfares heading south from Charlotte towards Matthews and connects commuters heading into Downtown Charlotte.
  • Infill Charlotte area demographics include almost 300,000 residents with an average household income of $100,609 within a 5-mile radius.
  • Signalized corner with heavy combined traffic count on N Sharon Amity and Monroe Road of over 43,000 vehicles per day.
  • Near major regional hospitals Novant Health Presbyterian Medical Center, Atrium Health Carolinas Medical Center and Atrium Health Mercy.

OVERVIEW

Pharma Property Group is pleased to market for sale the CVS store located at 2035 North Sharon Amity Road in Charlotte, North Carolina (the "Property"). CVS has had a long successful operating history at this site (±25 years) and recently agreed to a 10 year extension showing their commitment to this location. CVS recently closed down their location 3.5 miles to the south located at 2324 Village Lake Drive and transferred their prescription files to the Property's pharmacy. This store on North Sharon Amity Road is now the prominent CVS location in southern Charlotte and benefits from its position on Monroe Road which is a main thoroughfare heading south to Matthews. The Property allows for an investor to achieve a higher yield for a CVS asset in the tax friendly state of North Carolina. This property has minimal lease renewal risk considering with the long operating history, recent lease renewal, and assumed uptick in sales revenue from its growing prescription base. Additionally, there is only one other competing CVS property within a 3-mile radius located to the northeast and no other CVS for over 5.5 miles to the south. This signalized hard corner location benefits from traffic counts of over 43,000 vehicles per day which is expected to grow exponentially as Southern Charlotte continues on its upward growth trajectory. There are also several major hospitals located in the surrounding area which combined account for over 1,650 beds with plans for additional 450 beds to be completed in the next few years. Listed in conjunction with Brian Brockman, Bang Realty, 513.898.1551, wg@bangrealty.com, NC DRE Lic #298998.

FOR SALE DETAILS

PRICE

$2,807,520 USD

PRICE/SF

$277 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CVS 7.5 CAP 10.5 Yr No Rent Holiday $2.8M

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Convenience Store, Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1999

SPRINKLERS

-

PARKING SPACES

54

LAND DETAILS

LAND ACRES

0.69 AC

LAND SF

30,056 SF

ZONING

B1

APN/PARCEL ID

161-107-12

ASK ABOUT THIS PROPERTY

Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

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Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.