CVS Indian Trail, NC

Property Price: $5,367,000
Property Status: Closed
Property Type: Retail
Cap Rate: 5.35%
Lease Type: Fee Simple
Tenant Type: Single Tenant
NOI: $287,119
Building Size: 13,861 sf
Land Area: 1.648 acres
Remaining Term: 16 years
Expenses: NNN

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Landes Fairmount Properties is pleased to exclusively offer the opportunity to acquire the fee simple CVS (BBB+) property located in Indian Trail, NC. The lease is guaranteed 100% by CVS Caremark Corporation. The subject property opened in February 2006, when CVS began paying rent. CVS operates under bonded twenty-five (25) year lease with approximately sixteen (16) years remaining on the initial lease term. The lease offers ten (10) extension periods, at five (5) years. CVS Caremark Corporation also corporately guarantees the extension periods.

This property is located on the northwest corner of Wesley Chapel Stouts Road and Old Charlotte Highway. Behind the store a Sun N Play child care, Coldwell Banker United Realtor, Papa John’s, Starbucks, and several other stores and shops. At the southwest corner there is a Shell gas station combined with a Pizza Hut. Behind the gas station there is a large shopping plaza. Across the street on the northeast corner there is a series of small stores, shops and restaurants. At the southeast corner is the Sun Valley High School as well as the Church of the Redeemer. With a population of, almost 35,000, based on a 2012 Census, and an estimated median household income of $59,923, in 2011, the subject property is an ideal location for a CVS, providing a viable, long-term investment opportunity.


Agent Contact Information

Justin Grissen
Managing Director

Austin Landes
Investment Advisor

Caleb Landes
Investment Advisor

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