6110 TheplazaCharlotte, NC 28215

Property Details for 6110 Theplaza

Year built

1996

Lot size

1.43 AC

Property size (Sq ft)

12,608 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a freestanding CVS Pharmacy located in Charlotte, North Carolina. The property boasts a substantial 12,608 square feet situated on a 1.43-acre lot at a signalized intersection, ensuring high visibility and accessibility. Currently operating under a Net Lease (NN) agreement with CVS Pharmacy, the property offers a strong, corporate-guaranteed tenancy with a remaining lease term of approximately 1.6 years. The lease commenced April 3, 1995, and expires June 29, 2026, including two 5-year renewal options with 5% rent increases each. A recent 5-year renewal with a 10% increase demonstrates CVS's long-term commitment to this location. The property's Net Operating Income (NOI) is $209,640, resulting in a compelling 6.00% capitalization rate. Built in 1996, this strategically positioned property benefits from its proximity to Cochrane Collegiate Academy, a magnet school serving grades 6-12, contributing to a loyal customer base within a densely populated area (95,611 residents within a three-mile radius). The asking price is $3,523,361. This property is also available as part of a larger nine-property portfolio. The low replaceable rent makes this a particularly attractive investment. The address is 6110 The Plaza, Charlotte, NC 28215.

Location Insight

City

Charlotte

County

Mecklenburg

State

North Carolina

Latitude

35.2475

Longitude

-80.7515

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