CVS 8765 Highway 52 13,573 SF Retail Building Rockwell, NC 28138 $3,905,430 CAD ($287.74 CAD/SF) 6.15% Cap Rate

The Boulder Group is pleased to exclusively market for sale a single tenant net leased CVS Pharmacy property located within the Charlotte MSA in Rockwell, North Carolina. Successfully operating at this location since its 2008 construction, CVS committed to a long-term lease in 2022 extending through December 2037. The absolute triple-net structure carries zero landlord responsibilities and includes 5% rental escalations in each of the eight 5-year renewal options. The lease is backed by a corporate guaranty from CVS Health Corporation, an investment-grade tenant rated “BBB” by Standard & Poor’s. CVS pays a low absolute rent of $175,000 annually, well below comparable national pharmacy locations.
The 13,573 square-foot building is positioned along US Highway 52, benefiting from traffic counts exceeding 12,500 vehicles per day. The surrounding area supports an average household income exceeding $97,000 within a five-mile radius. Neighboring tenants include Food Lion, McDonald’s, AutoZone, Sonic Drive-In, Ace Hardware, O’Reilly Auto Parts, Dollar General, and several others, providing consistent consumer traffic to the immediate area. Furthermore, Rowan County continues to attract significant economic investment, with recent commitments including Macy’s 1.4-million-square-foot fulfillment center in China Grove (up to 2,800 jobs), a Chewy fulfillment center (1,200 jobs), and Jabil Inc.’s $500+ million manufacturing facility (1,181 new jobs).
CVS Health is an American healthcare company headquartered in Woonsocket, Rhode Island, operating as one of the largest integrated healthcare providers in the United States. Founded in 1963 by brothers Stanley and Sidney Goldstein along with partner Ralph Hoagland in Lowell, Massachusetts, the company began as a chain of health and beauty aid stores before expanding into pharmacy services. Today, CVS Health operates more than 9,000 retail pharmacy locations across the country and provides services through several key business segments, including CVS Pharmacy (retail), Caremark (pharmacy benefits management), and Aetna (health insurance), which it acquired in 2018 for approximately $69 billion. The company employs over 300,000 people and serves millions of customers daily through its retail stores, MinuteClinic walk-in medical clinics, mail-order pharmacy services, and digital health platforms.