Rite Aid

160 East Antelope Avenue, Woodlake, CA 93286

$3,468,000

Cap Rate 8.00%

Views: 57 DOM: 102 Updated: 10.14.24 Posted: 07.08.24 Status: Active 07.08.24

Summary

Price $3,468,000	Built/Renov 2015	Tenant Rite Aid
Cap Rate 8.00%	Lease Type Abs NNN	Guarantor Corp Traded
Size/SF 14,673	Lease Start 04-22-2016	#Units 1,690
Price/SF $236.35	Expiration 02-25-2036	Tenant Type Pharmacy
NOI $277,515	R. Term 11.4	Ownership Fee Simple
Rent/SF $18.91	Increases 10.0%/3/yrs	Pop 5Mi 10,670
Lot/AC 0.95	Options 20/6yrs/6%	AHHI 5Mi $75,857

Lease Highlights

Rite Aid has 11+ years remaining on their initial term with 6 (5-year) options to extend
Lease features an increase of 10% in 2026 (year 10)
Absolute NNN lease | Zero landlord responsibilities
Corporate guarantee by Rite Aid Corp (NYSE: RAD)

Location Description

The subject property has great visibility at the signalized, hard corner intersection of Magnolia Street and Antelope Avenue. The site has complete market share, with the closest national drug store being over 11 miles away. The parcel is on the edge of mountains leading into Sequoia national parks and is 1 block away from beautiful Bravo Lake. Very close proximity to Valencia House Senior...

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Key Features

Signalized intersection
Hard corner intersection
Highway close
Top 100 MSA
Population increase trend
Absolute NNN
Long 10+ yr lease
Limited competition
Traded and rated company
Corporate Guarantee

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Links

Rite Aid Wikipedia Rite Aid WIkipedia Woodlake California Zip Code 93286 Broker Site Page Drone Video

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
2028 Total Population :	8,080	9,362	11,237
2023 Total Population :	7,813	9,058	10,895
2023 Employed Civilian Pop :	2,742	3,213	4,044
2023 Total Businesses :	160	202	260
2023 Average Household Income :	$ 66,967	$ 68,740	$ 78,010
2023 Total Consumer Spending :	$ 129 M	$ 157 M	$ 220 M
2023 Median Age :	28	30	31
2023 Total Households :	2,235	2,651	3,261
2023 Pop Age 25+: Bachelor's Degree :	271	375	582
2023 Average Home Value :	$ 336,738	$ 369,827	$ 385,178

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
N Valencia Blvd	E Antelope Ave	2017	6,700	0.05 mi
216		2018	5,300	0.11 mi
		2021	5,350	0.17 mi
		2021	5,650	0.17 mi
N Valencia Blvd	W Whitney Ave	2011	5,680	0.18 mi
E Whitney Ave	N Magnolia St	2011	860	0.21 mi
W Whitney Ave	N Valencia Blvd	2011	2,660	0.22 mi
216		2018	4,600	0.23 mi
N Valencia Blvd	W Whitney Ave	2011	4,480	0.25 mi
216		2018	2,500	0.44 mi

Listing Broker

David McNevin

CBRE: NLPG Newport

Contact

7 Listings
603 Views
1 Sold

Ian Schroeder

CBRE: NLPG Newport

Contact

18 Listings
2157 Views
2 Sold

David McNevin

David McNevin is an Associate for CBRE’s Net Lease Property Group in Newport Beach, California. The team specializes in the acquisition and disposition of single tenant net leased retail assets. David assists the team in outreach of new business development opportunities within the private client, merchant developer, and institutional space. David is passionate about the needs and goals of his client’s portfolios, delivering exceptional work ethic and attention to detail throughout the sales

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Ian Schroeder

Ian Schroeder joined CBRE in July 2013 as Senior Vice President, specializing in the sale and disposition of NNN single-tenant properties and arranging sale leaseback transactions throughout the United States. Schroeder's expertise includes working with a wide spectrum of major national real estate developers, institutions and private clients in the disposition of their real estate assets. He maintains intimate knowledge of national market trends and valuations, and is a highly-skilled negotiat

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Melissa Ley Marshall

CBRE: NLPG Newport

Contact

18 Listings
2157 Views
2 Sold

Melissa Ley Marshall

Melissa Ley Marshall is First Vice President and Partner of CBRE’s Net Lease Property Group in Newport Beach, California. She specializes in the acquisition and disposition of NNN single-tenant retail properties throughout the United States and has closed $1 Billion in investment volume throughout her career. Melissa manages the entire sales process, from underwriting and valuation to offer negotiations, working relentlessly to deliver best results for her private and institutional clients.

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