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Views: 116 DOM: 506 Updated: 08.06.24 Posted: 04.20.23 Status: Active

Summary

Price $7,971,000
Built/Renov 2009
Tenant Rite Aid
Cap Rate 7.00%
Lease Type Double NN
Guarantor Corp Traded
Size/SF 17,369
Lease Start 05-01-2009
#Units 1,690
Price/SF $458.92
Expiration 04-30-2029
Tenant Type Pharmacy
NOI $557,987
R. Term 4.7
Ownership Fee Simple
Rent/SF $32.13
Increases 11.0%/6/yrs
Pop 5Mi 67,926
Lot/AC 2.24
Options 6/5yrs/11%
AHHI 5Mi $104,673

Lease Highlights

  • Rite Aid has been operating in this location since 2009
  • Tenant has over 6 years remaining on its current lease with 6 (5-year) options to extend
  • Lease features a 11% rental increase at the beginning of options 1 and 3 along with fair market value increases at the start of options 5 and 6
  • Corporate guarantee by Rite Aid Corp. (NYSE: RAD)

Location Description

Rite Aid is strategically located at the hard corner intersection of Bryant Street and Oak Glen Road, which serves over 26,000 vehicles per day. The site is ideally positioned 2 miles northeast of Yucaipa Valley Center, a 168,000 SF community center with notable tenants including Ross, Vons, TJ Maxx, Staples, and more. Other nearby national/credit tenants include Stater Bros, Aldi, Big Lots,...

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Maps

  • 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
2028 Total Population : 10,943 47,013 70,207
2023 Total Population : 10,817 46,004 68,560
2023 Employed Civilian Pop : 5,733 22,300 33,231
2023 Total Businesses : 157 1,055 1,765
2023 Average Household Income : $ 105,790 $ 102,670 $ 106,063
2023 Total Consumer Spending : $ 359 M $ 1452 M $ 2244 M
2023 Median Age : 41 39 41
2023 Total Households : 3,953 16,443 24,579
2023 Pop Age 25+: Bachelor's Degree : 955 4,790 7,974
2023 Average Home Value : $ 451,149 $ 479,989 $ 493,688
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Bryant St Oak Glen Rd 2010 11,993 0.19 mi
Bryant St Beech Ave 2010 9,374 0.85 mi
Oak Glen Rd Stonewood Dr 2010 13,709 0.89 mi
Yucaipa Blvd California St 2010 20,016 1.00 mi
2nd St Yucaipa Blvd 2007 15,824 1.05 mi
Bryant St Ave B 2007 7,131 1.08 mi
Yucaipa Blvd 3rd St 2010 21,697 1.27 mi
Bryant St Ave D 2010 6,929 1.33 mi
Oak Glen Road Casa Blanca Ave 2019 150 1.36 mi
Avenue E 1st St 2010 5,142 1.49 mi

Listing Broker

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