Rite Aid

7225 Airport Hwy, Holland, OH 43528

$6,502,000

Cap Rate 8.00%

Views: 143 DOM: 793 Updated: 10.06.24 Posted: 09.20.22 Status: Active

Summary

Price $6,502,000	Built/Renov 2008	Tenant Rite Aid
Cap Rate 8.00%	Lease Type Abs NNN	Guarantor Corp Traded
Size/SF 14,564	Lease Start 01-30-2008	#Units 1,690
Price/SF $446.44	Expiration 01-31-2028	Tenant Type Pharmacy
NOI $520,182	R. Term 3.2	Ownership Fee Simple
Rent/SF $35.72	Increases 10.0%/6/yrs	Pop 5Mi 112,092
Lot/AC 2.70	Options 6/5yrs/10%	AHHI 5Mi $77,879

Lease Highlights

The tenant has approximately 3 years remaining on their current lease term with 6 (5-year) options to extend
The lease features 10% rental increases with options 1 & 3, and FMV thereafter
Corporate guaranteed by Rite Aid Corp.

Location Description

Rite Aid is well positioned at a hard corner signalized intersection of Airport Hwy., and Holloway Rd., providing excellent visibility and access to more than 31,599 vehicles per day. The subject property comprises a 14,564 SF building with a drive-thru and is positioned on a large 2.70-acre lot with multiple points of ingress/egress. It sits adjacent to a Kroger anchored shopping center...

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Key Features

Signalized intersection
Hard corner intersection
Near major nationals
Freeway close
Strong tenant synergy
Dense 100M+ pop 5 mi
Top 100 MSA
Absolute NNN
Traded and rated company
Corporate Guarantee

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Links

Rite Aid Wikipedia Rite Aid Wikipedia Holland, Ohio Zip Code 43528 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Rite Aid
Guarantor:Corp Traded
Company:Rite Aid Corporation
# Units:1,690
Stock: OTC: RADCQ

About Tenant

Rite Aid Corporation (OTC: RADCQ) is a leading American drugstore chain. Rite Aid stores offer an array of health products as well as basic healthcare services. It was founded in 1962 in...

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Demographics

	1 Miles	3 Miles	5 Miles
2027 Total Population :	6,094	44,756	114,115
2022 Total Population :	6,196	45,182	115,058
2022 Employed Civilian Pop :	3,271	22,450	56,525
2022 Total Businesses :	419	2,022	4,846
2022 Average Household Income :	$ 99,671	$ 90,922	$ 86,811
2022 Total Consumer Spending :	$ 224 M	$ 1497 M	$ 3825 M
2022 Median Age :	44	41	41
2022 Total Households :	2,629	19,201	51,278
2022 Pop Age 25+: Bachelor's Degree :	1,090	7,189	17,924
2022 Average Home Value :	$ 212,630	$ 230,297	$ 223,123

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Airport Hwy	Fairborne Dr	2017	20,419	0.20 mi
Holloway Rd	Spring Meadows Dr W	2014	5,032	0.25 mi
SR-2	Habbler Ave	2020	20,489	0.28 mi
HOLLOWAY RD	Pilliod Rd	2020	7,770	0.38 mi
Holloway Rd	Front St	2017	4,660	0.52 mi
Airport Hwy	Connecticut Blvd	2003	22,630	0.54 mi
FRONT ST	Holloway Rd	2020	4,318	0.54 mi
PERRYSBURG HOLLAND RD	Wolfridge Dr	2020	9,952	0.65 mi
PILLIOD	Pilliod Rd	2020	929	0.68 mi
APPLE BLOSSOM DR	Apple Blossom Dr	2020	139	0.68 mi

Listing Broker

Eric Carlton

Colliers NNN Group

Contact

180 Listings
23624 Views
62 Sold

Jereme Snyder

Colliers NNN Group

Contact

168 Listings
22003 Views
58 Sold

Eric Carlton

Eric Carlton serves as Executive Vice President within the Retail Capital Markets Group of Greater Los Angeles, Partner of the Colliers NNN Group, and Co-Founder of the Snyder/Carlton Team for Colliers International nationwide. The Colliers Retail Services Group is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting i

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Jereme Snyder

Jereme S. Snyder is a Executive Vice President within the Retail Services Group in Greater Los Angeles and a Director of Colliers NNN Group for Colliers International nationwide. The Colliers Retail Services Team is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting in debt solutions. Colliers NNN Group is a national

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