Rite Aid

8310 Sylvania-Metamora Road, Sylvania, OH 43560

$4,207,407

Cap Rate 6.75%

Views: 130 DOM: 219 Updated: 10.28.24 Posted: 04.16.24 Status: Active

Summary

Price $4,207,407	Built/Renov 2007	Tenant Rite Aid
Cap Rate 6.75%	Lease Type Abs NNN	Guarantor Corp Traded
Size/SF 14,564	Lease Start 10-18-2007	#Units 1,690
Price/SF $288.89	Expiration 12-31-2029	Tenant Type Pharmacy
NOI $284,000	R. Term 5.1	Ownership Fee Simple
Rent/SF $19.50	Increases 0.0%/0/yrs	Pop 5Mi 59,100
Lot/AC 2.56	Options 6/5yrs/10%	AHHI 5Mi $101,000

Barry Silver

The Silver Group

Contact

Lease Highlights

Rite Aid has been operating in this location since 2007
The tenant has 5+ years remaining on the current lease term with 6 (5-year) options to extend
The lease features 10% rental escalations at the start of every other option period
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Rite Aid is strategically located the hard corner intersection of Sylvania-Metamora Road and Centennial Road, surrounded by Mayberry Village Active Adult Apartments and Mayberry Square Shoppes. The 5-mile trade area is supported by a population of 59,100 residents with an average household income of $101,000. Sylvania is a city in Lucas County, Ohio with a population of approximately 20,000...

...

Key Features

Signalized intersection
Hard corner intersection
Strategically located
Strong tenant synergy
Top 100 MSA
Affluent AHHI $100K 5 Mi
Long operation history
Limited competition
Corporate Guarantee
Publicly traded company

...

Links

Rite Aid Wikipedia Rite Aid Wikipedia Sylvania, Ohio Zip Code 43560 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...

...

Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	5,336	27,154	59,914
2023 Total Population :	5,342	27,371	60,395
2023 Employed Civilian Pop :	2,678	13,505	30,798
2023 Total Businesses :	58	864	2,565
2023 Average Household Income :	$ 165,744	$ 145,291	$ 126,063
2023 Total Consumer Spending :	$ 260 M	$ 1293 M	$ 2685 M
2023 Median Age :	42	42	43
2023 Total Households :	1,884	10,490	24,944
2023 Pop Age 25+: Bachelor's Degree :	1,355	5,891	11,668
2023 Average Home Value :	$ 294,422	$ 292,398	$ 273,376

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Centennial Rd	Doyle Dr	2017	3,015	0.08 mi
Sylvania-Metamora Road	Heidaway Ln	2021	8,956	0.09 mi
North Centennial Road	Doyle Dr	2021	3,584	0.21 mi
SYLVANIA-METAMORA RD	Eagle TrceDr	2020	8,455	0.24 mi
Sylvania-Metamora Road	Smith Farm Rd	2021	6,482	0.51 mi
Fox Hollow Court	Ivywood Ln	2021	143	0.51 mi
North Centennial Road	Little Rd	2021	7,209	0.54 mi
Sylvania-Metamora Road	Settlers Ridge Cir	2021	6,159	0.74 mi
Clark Rd	Yankee Rd	2014	2,168	0.81 mi
North Centennial Road	Little Rd	2021	8,138	0.82 mi

Listing Broker

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT