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Views: 168 DOM: 596 Updated: 09.12.24 Posted: 04.05.23 Status: Active

Summary

Price $3,028,750
Built/Renov 1993
Tenant Rite Aid
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp Traded
Size/SF 12,782
Lease Start 12-16-2022
#Units 1,690
Price/SF $236.95
Expiration 12-15-2037
Tenant Type Pharmacy
NOI $181,725
R. Term 13.0
Ownership Fee Simple
Rent/SF $14.22
Increases 5.0%/4/yrs
Pop 5Mi 90,573
Lot/AC 2.57
Options 9/5yrs/5%
AHHI 5Mi $114,505

Lease Highlights

  • Rite Aid has been operating in this location for 29+ years
  • Brand-new 15-year lease with 9 (5-year) options to extend
  • Lease features 5% rental increases every 5 years throughout the initial term and at each option period
  • Absolute NNN with zero landlord responsibilities
  • Corporate guarantee by Rite Aid Corp. (NYSE: RAD)

Location Description

This Rite Aid is positioned at the signalized intersection of Main Street and Sheridan Drive with traffic counts of over 23,500 vehicles passing per day. Located along a major thoroughfare, the site is near several shopping centers including Eastgate Plaza, Eastern Hills Mall and Clarence Mall. Nearby major national tenants include Walmart, BJ’s, Dollar Tree, JCPenny, Sephora, The Home Depot,...

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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 : 2,647 27,728 91,260
2023 Total Population : 2,507 27,571 91,372
2023 Employed Civilian Pop : 1,403 14,089 46,658
2023 Total Businesses : 187 1,560 4,330
2023 Average Household Income : $ 133,361 $ 144,131 $ 131,671
2023 Total Consumer Spending : $ 117 M $ 1342 M $ 4266 M
2023 Median Age : 48 47 48
2023 Total Households : 1,038 11,064 38,190
2023 Pop Age 25+: Bachelor's Degree : 457 5,305 17,107
2023 Average Home Value : $ 346,511 $ 383,281 $ 330,954
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Main St Thompson Rd 2010 15,191 0.05 mi
Sheridan Dr Shimerville Rd 2011 9,541 0.11 mi
Main St Thompson Rd 2011 14,929 0.21 mi
Sheridan Drive Boncrest Rd 2018 9,029 0.36 mi
Main St Shimerville Rd 2011 14,900 0.60 mi
Thompson Road Roll Rd 2021 4,055 0.64 mi
Thompson Road Main St 2018 3,092 0.64 mi
Sheridan Drive Harris Hill Rd 2021 7,027 0.73 mi
Wehrle Dr Barton Rd 2011 5,435 0.74 mi
Wehrle Drive Barton Rd 2018 6,735 0.74 mi

Listing Broker

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