For Sale
$1,115,136

129 Nine Foot Rd Newport, NC 28570

High-yield retail pharmacy, strong tenant.

Property records and analytics

Overview

Added:
Dec 11, 2024
Days on market:
137
This exceptional investment opportunity presents a 2,834-square-foot CVS Pharmacy located at 129 Nine Foot Rd, Newport, NC 28570. Built in 2011, this property boasts a strong 6.25% cap rate and a substantial net operating income (NOI) of $69,696. The asking price is $1,115,136. Situated in a thriving retail corridor alongside national brands like Walmart, Food Lion, Subway, First Citizens Bank, Dollar General, and Bojangles, this location benefits from high visibility and significant foot traffic. The pharmacy enjoys a high script count and benefits from limited competition—being the only national brand pharmacy within a 10-mile radius. The property features a favorable option structure with a 10% increase in the next option period, beginning December 1st, 2024. This CVS location represents a secure and profitable investment in a desirable market. The property's strong tenant, CVS, holds a prominent position as the 5th ranked company on the Fortune 500 list, further solidifying its financial stability and long-term viability.

Highlights

  • 2,834 SF CVS Pharmacy in high-traffic retail corridor with Walmart, Food Lion, and other national tenants.
  • Investment-grade tenant: CVS, ranked #5 on the Fortune 500.
  • Lease extension begins December 1, 2024, with a 10% rent increase.
  • Favorable option structure with 10% rent increases in subsequent option periods.
  • High-volume pharmacy with limited competition (only national brand pharmacy within 10 miles).
  • Strong cap rate of 6.25% and NOI of $69,696.

Property Details for 129 Nine Foot Rd

Property type
Retail properties, Drug stores
Square Feet
2,834 SF
Year Built
2011

Location Insight

City
Newport
County
Carteret
State
North Carolina
Latitude
34.788966176695
Longitude
-76.877245504755

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FAQs

What type of property is this?
Retail property - High-yield retail pharmacy, strong tenant.
Where is the retail property located?
The property is located at 129 Nine Foot Rd Newport, NC.
What is the asking price?
The asking price for this property is $1,115,136.
What are key features of this property?
This property features: 2,834 SF CVS Pharmacy in high-traffic retail corridor with Walmart, Food Lion, and other national tenants.; Investment-grade tenant: CVS, ranked #5 on the Fortune 500.; Lease extension begins December 1, 2024, with a 10% rent increase.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I access a private listing?
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Contacts

Josh Ein
Josh Ein
Ricky Cole
Ricky Cole
Visit Broker Website

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Nine Foot Rd
Newport, NC 28570

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Nine Foot Rd
Newport, NC 28570

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We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.

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129 Nine Foot Rd
  • Josh Ein
    Josh Ein
  • Ricky Cole
    Ricky Cole
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