Rite Aid (GL)

231 West Street, Gettysburg, PA 17325

$4,352,000

Cap Rate 8.00%

Views: 72 DOM: 98 Updated: 09.04.24 Posted: 06.01.24 Status: Active

Summary

Price $4,352,000	Built/Renov 2006	Tenant Rite Aid (GL)
Cap Rate 8.00%	Lease Type Abs NNN	Guarantor Corp Traded
Size/SF 14,584	Lease Start 07-31-2006	#Units 1,690
Price/SF $298.41	Expiration 08-31-2031	Tenant Type Pharmacy
NOI $348,125	R. Term 6.11	Ownership Ground Lease
Rent/SF $23.87	Increases 0.0%/0/yrs	Pop 5Mi 22,206
Lot/AC 2.39	Options 7/5yrs	AHHI 5Mi $104,315

Lease Highlights

Rite Aid has been operating in this location since 2006
The tenant has 7+ years remaining on the current ground lease term with 7 (5-year) options to extend
The lease features 10% rental escalations throughout the initial term and the start of the first 3 options, 15% or FMV escalations at the start of each remaining option period
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Rite Aid is strategically located at the signalized, hard corner intersection of West Street and W High Street, with access to a combined daily traffic count of 1,370 vehicles. The property is almost directly adjacent to the Gettysburg Recreation Sports Park, which features numerous sports and recreational facilities. This prime location is further enhanced as the next closest Rite Aid is 11...

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Key Features

Signalized intersection
Hard corner intersection
Near major nationals
Hospital close
Top 100 MSA
Affluent AHHI $100K 5 Mi
Long operation history
Absolute NNN
Corporate Guarantee
Publicly traded company

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Links

Rite Aid Wikipedia Rite Aid Wikipedia Gettysburg, Pennsylvania Zip Code 17325 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 Scranton,...

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Listing Broker

Ian Schroeder

CBRE: NLPG Newport

Contact

18 Listings
1763 Views
0 Sold

Melissa Ley Marshall

CBRE: NLPG Newport

Contact

18 Listings
1763 Views
0 Sold

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

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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