402 S Main St - Drug Store FOR SALE


Rolesville, NC 27571
$5,200,000 USD
212-430-5180
402 S Main St, Rolesville, NC for Sale
$5,200,000 USD
Drug Store - FOR SALE
1/5
null | 5.93% Cap Rate

402 S Main St
Rolesville, NC 27571


HIGHLIGHTS

  • CVS/pharmacy at the Four-Way Signalized Intersection of S Main Steet and Rogers Road (+/- 25,000 Vehicles Per Day)
  • Rolesville, NC was the Fastest Growing Town in the State Per 2020 Census Data; Currently Has 2,400+ Dwelling Units Under Construction
  • Explosive Historical Growth (150% from 2010 to 2020) with Robust 12% Growth Projected Between 2023 and 2028
  • Strong Surrounding Retail Synergies with Publix, 7-Eleven, and Bojangles Currently Under Construction
  • Long Term NNN Lease Featuring Over 12 Years of Term Providing Maximum Security
  • Corporate Guarantee from CVS, the 6th Ranked Company on the Fortune 500 w/ an S&P Credit Rating of BBB

OVERVIEW

-NNN CVS/pharmacy with No Landlord Responsibilities: CVS/pharmacy Located at the Highly Trafficked Signalized Intersection of S Main Street (15,000 Vehicles Per Day (VPD)) and Rogers Road (9,000 VPD) in Rolesville, NC in the Raleigh-Durham-Cary MSA -Rapid/Growth Development Area in the Greater Research Triangle: Located in Rolesville, NC, the Fastest Growing Town in North Carolina with Populations Over 5,000 According to the 2020 US Census with Over 2,400 Homes/Apartments Currently Under Development -Explosive Historical and Projected Population Growth: Rolesville Grew More Than 150 Percent Between 2010 and 2020 According to the US Census with Population Growth Projected at Nearly 12 Percent Within a 3-Mile Radius of This CVS Between 2023 and 2028 -Long Term Lease with Rare Base Term Rent Increase Offering Maximum Security: CVS/pharmacy's Lease Base Term Currently Features Over 12 Years and Several 5-Year Tenant Extension Options Along with a Rare Base Term Rent Increase Providing an Ideal 1031 Investment -Strong Surrounding Retail Synergies: Surrounded by a Host of the Nation’s Most Successful Retailers Including Food Lion, McDonald’s, Auto- Zone, Dollar General, and Sonic Along with with Publix, 7-Eleven, and Bojangles Under Construction -Investment Grade Credit / Fortune 500 Company: Lease Corporately Guaranteed by CVS Health, the 6th Ranked Company in the Fortune 500 with an S&P Credit Rating of BBB and Over $358 Billion in Total Revenue (2023)

FOR SALE DETAILS

PRICE

$5,200,000 USD

PRICE/SF

$376 USD /SF

CAP RATE

5.93%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CVS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

71

LAND DETAILS

CROSS STREETS

Rogers Road

LAND ACRES

1.74 AC

LAND SF

75,794 SF

ZONING

Special Use Commercial

APN/PARCEL ID

1758.08-89-2738-000

ASK ABOUT THIS PROPERTY

Christopher PappasMarcus & MillichapMore Info
212-430-5180

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Christopher PappasMarcus & MillichapMore Info
212-430-5180

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