For Sale
$2,807,520

2035 Sharon Amity RdCharlotte, NC 28205

High-Yield CVS Pharmacy, 10-Year Lease

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a CVS Pharmacy located at 2035 N Sharon Amity Rd, Charlotte, NC 28205. The property boasts a 7.5% cap rate and a strong 10.2-year remaining lease term expiring January 31, 2035, with rent bumps included. The 0.69-acre lot houses a single-tenant, 100% occupied building constructed in 1999. The property generates a substantial net operating income (NOI) of $210,564 annually, with an asking price of $2,807,520. The location benefits from high traffic counts exceeding 43,000 vehicles daily on a signalized corner, situated on a major thoroughfare. This prime location is further enhanced by its proximity to major hospitals, totaling over 1650 beds, with plans for an additional 450 beds in the near future. The property's strategic position in a rapidly growing area of Charlotte, combined with the tenant's long-term commitment (evidenced by a recent 10-year lease extension and the transfer of prescriptions from a closed nearby location), presents a compelling investment opportunity with minimal lease renewal risk. The lease includes four 5-year options. The property is situated in a tax-friendly state, offering additional investment advantages. The surrounding area has a population of nearly 300,000 residents within a 5-mile radius, boasting an average household income exceeding $100,000.

Highlights

  • CVS recently renewed its lease for 10 years.
  • A nearby CVS closed, transferring its prescriptions to this location, increasing customer traffic.
  • High-traffic Monroe Road connects Charlotte to Matthews and Downtown Charlotte.
  • Densely populated area: ~300,000 residents within 5 miles, average household income $100,069.
  • High-visibility corner lot with over 43,000 vehicles daily.
  • Proximity to major hospitals: Novant Health Presbyterian, Atrium Health Carolinas Medical Center, and Atrium Health Mercy.

Property Details for 2035 Sharon Amity Rd

Property type
Retail properties, Drug stores
Year Built
1999
Lot Size (sq. ft)
30,056 SF

Location Insight

City
Charlotte
County
Mecklenburg
State
North Carolina
Latitude
35.189348976077
Longitude
-80.772939007408
2035 Sharon Amity Rd, Charlotte, North Carolina

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2035 Sharon Amity Rd
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