| Purchase Price | $6,250,000 |
|---|---|
| Annual Rental Income | $333,750 |
| Cap Rate | 5.34% |
| Lease Term | 14 Years |
| City | Leland |
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CVS Pharmacy – Leland, NC
This CVS Pharmacy property located in Leland, North Carolina is secured by a long-term absolute triple-net (NNN) lease with CVS Health, one of the nation’s most prominent and creditworthy pharmacy retailers. The investment offers passive, reliable income backed by a national tenant providing essential healthcare and retail services in a high-growth coastal market.
Tenant Overview
CVS Pharmacy is a subsidiary of CVS Health (NYSE: CVS), a Fortune 500 company and national leader in retail pharmacy and integrated healthcare services. With over 9,000 locations across the U.S., CVS offers prescription fulfillment, over-the-counter health products, vaccinations, and front-end convenience retail. The company continues to invest in the expansion of in-store medical services and has a proven history of long-term lease performance across suburban and urban markets.
Lease Structure
The property is subject to an absolute NNN lease, with the tenant responsible for all taxes, insurance, maintenance, and capital repairs. This structure offers investors predictable, passive income with no landlord obligations. CVS leases typically include a long primary term and multiple renewal options, providing long-term cash flow security and minimal rollover risk.
Leland Market Overview
Leland is one of the fastest-growing cities in North Carolina, located just across the Cape Fear River from Wilmington. It has experienced explosive residential and commercial development driven by coastal migration, job growth, and a high quality of life. The city’s proximity to Wilmington and its location along key regional thoroughfares make it a strategic hub for both locals and commuters.
Demographics & Consumer Demand
Leland’s population has more than doubled in the last decade, with current estimates exceeding 25,000 residents. The area features a strong mix of young professionals, retirees, and families, supported by rising household incomes and continued housing development. This growing and affluent consumer base creates consistent demand for essential retail and healthcare access, directly supporting CVS’s long-term success at this location.
Community Relevance & Store Traffic
CVS plays a critical role in Leland’s healthcare and retail infrastructure. As a trusted provider of prescriptions, immunizations, and general health items, CVS draws steady, high-frequency traffic. Its convenient location and essential offerings make it a daily destination for both long-time residents and new arrivals, ensuring durable operational performance.
Tenant Strength & Investment Stability
CVS Health is a credit-rated, investment-grade tenant with national brand strength and operational consistency. Its model, which integrates retail, pharmacy, and in-store healthcare services, ensures continued relevance across all market conditions. The corporate-guaranteed lease and NNN structure create a low-risk, passive investment opportunity.
Investment Highlights