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Rite Aid

38169 Dupont Blvd, Selbyville, DE 19975

$8,900,000

Cap Rate 7.58%

Views: 139 DOM: 553 Updated: 10.21.24 Posted: 05.18.23 Status: Active

Summary

Price $8,900,000
Built/Renov 2008
Tenant Rite Aid
Cap Rate 7.58%
Lease Type Abs NNN
Guarantor Corp Traded
Size/SF 14,673
Lease Start 06-11-2008
#Units 1,690
Price/SF $606.56
Expiration 05-31-2030
Tenant Type Pharmacy
NOI $674,291
R. Term 5.6
Ownership Fee Simple
Rent/SF $45.95
Increases 10.0%/7/yrs
Pop 5Mi 8,193
Lot/AC 1.92
Options 6/5yrs/10%
AHHI 5Mi $70,511

Eric Carlton
Colliers NNN Group
Contact

Jereme Snyder
Colliers NNN Group
Contact

Lease Highlights

  • Rite Aid has been operating in this location since 2008
  • The tenant has 5 years remaining on the current lease term with 6 (5-year) options to extend
  • Lease features 10% rental increases every 10 years throughout the initial term and during each option period
  • Absolute NNN lease featuring zero landlord responsibilities
  • Corporate guarantee by Rite Aid Corp. (NYSE: RAD)

Location Description

Positioned on a hard corner, signalized intersection with over 20,000 VPD, the subject property is comprised of a 14,673 SF building with a double drive-thru lane and is positioned on a large 1.92 acre lot. The property sits in close proximity to a grocery anchored shopping center anchored by Food Lion with a McDonald’s outparcel providing strong retail synergies. Additionally, the property is...

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Key Features

  • Signalized intersection

  • Hard corner intersection

  • In location for years

  • Major thoroughfare

  • Near major nationals

  • Major MSA

  • Long operation history

  • Absolute NNN

  • Traded and rated company

  • Corporate Guarantee

    • ...

Links

Rite Aid Wikipedia Rite Aid Wikipedia Selbyville, Delaware Zip Code 19975 Broker Site Page

Documents

Download OM

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 : 1,712 4,611 9,822
2023 Total Population : 1,785 4,706 9,810
2023 Employed Civilian Pop : 829 2,141 4,755
2023 Total Businesses : 173 258 476
2023 Average Household Income : $ 78,819 $ 103,965 $ 109,306
2023 Total Consumer Spending : $ 44 M $ 161 M $ 370 M
2023 Median Age : 38 41 44
2023 Total Households : 650 1,788 3,912
2023 Pop Age 25+: Bachelor's Degree : 89 392 928
2023 Average Home Value : $ 289,949 $ 378,923 $ 425,414
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Rd 377 2003 1,649 0.04 mi
Rd 377 Dupont Blvd 2018 1,332 0.13 mi
SR54 CEMETERY ROAD W Railroad Ave 2020 2,833 0.23 mi
Cemetery Road Main St 2016 1,205 0.23 mi
SR54 CEMETERY ROAD Main St 2020 1,096 0.23 mi
US113 DUPONT BOULEVA Rd 60 2020 15,483 0.25 mi
Blueberry Farm Road 2003 103 0.27 mi
Gumboro Road Rd 379 2019 954 0.32 mi
GUMBORO ROAD Rd 379 2020 758 0.32 mi
Dupont Boulevard Rd 60 2016 19,410 0.35 mi

Listing Broker

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