CVS Pharmacy

CVS Pharmacy – Apex, NC (Raleigh–Durham MSA)
This CVS Pharmacy property in Apex, North Carolina—part of the booming Raleigh–Durham metropolitan statistical area—is secured by a long-term absolute triple-net (NNN) lease with CVS Health, a Fortune 500, investment-grade tenant. The offering represents a premier net lease investment in an affluent, high-growth suburban node known for its strong demographics and dynamic real estate fundamentals.

Credit Tenant Overview
CVS Pharmacy is a wholly owned subsidiary of CVS Health (NYSE: CVS), one of America’s most trusted healthcare brands, operating over 9,000 locations nationwide. The store delivers high-frequency, essential services, including:

• Prescription medications and refill services
• Flu shots, travel immunizations, and wellness screenings
• Retail health services through MinuteClinics
• Over-the-counter pharmaceutical and health products
• Convenience retail—personal care, snacks, basic grocery, and seasonal items

As CVS continues expanding its integrated healthcare model—telehealth, insurance integration, and walk-in care—its relevance and value in suburban communities continue to grow.

Lease Structure – Absolute NNN
This asset operates under an absolute triple-net lease, meaning CVS is responsible for real estate taxes, insurance, maintenance, and capital expenditures including roof and structure. The arrangement offers true passive income, with zero landlord duty. Long lease terms with built-in rent escalations and structured renewal options make it ideal for 1031-exchange buyers, private investors, and institutional accounts seeking long-duration, inflation-protected cash flow.

Apex Market Overview
Apex is consistently ranked among the best places to live in the U.S. due to its highly rated public schools, safe neighborhoods, and high quality of life. Located just 16 miles from Raleigh and 25 miles from Durham, Apex benefits from strong residential and commercial growth within the Research Triangle, driven by tech, healthcare, and education sectors. The town’s population exceeds 60,000 and continues to expand, supporting a robust demand for retail, pharmacy, and primary care services.

Demographics & Demand Drivers
Apex’s demographic profile strengthens CVS’s market position:

• Median household income well above state and national averages
• High homeownership rates and low rental vacancy
• Educated, dual-income families and professionals
• Significant recent and ongoing residential development

These trends support repeat pharmacy traffic, immunization demand, and front-end sales, underpinning the property’s long-term performance.

Strategic Retail Location
This CVS Pharmacy benefits from excellent visibility and access, positioned along a major retail corridor with strong daily traffic counts. As a neighborhood anchor, it forms part of a cohesive retail cluster that may include national grocers, medical offices, and convenience stores. Visibility, accessibility, and proximity to residential catchments contribute to consistent operations and tenant performance.

Investment Highlights

• Absolute NNN Lease: Fully passive ownership with zero landlord obligations
• Credit Tenant: Lease backed by CVS Health, an investment-grade, Fortune 500 company
• High-Growth Suburb: Apex is among the fastest-growing, highest-income exurbs in Raleigh–Durham
• Demographic Strength: Growing population, strong household income, and residential stability
• Retail Fundamentals: High-traffic location, corner signal position, and complementary co-tenancy
• Long-Term Stability: Lease term with escalations and renewal options supports reliable income
• Ideal for 1031 Exchange: Corporate-backed net lease in a premier market

Conclusion
The CVS Pharmacy in Apex, NC represents a best-in-class single-tenant net lease investment—combining a corporate-guaranteed absolute NNN lease, essential healthcare/retail tenancy, and prime exposure to the high-demand Raleigh–Durham suburban market. With long-term, passive income and strong demographic support, this asset is ready for institutional allocation, private portfolio diversification, or 1031 exchange deployment.