Rite Aid

111 West Main Street, West Newton, PA 15089

$2,783,250

Cap Rate 6.00%

Views: 124 DOM: 530 Updated: 09.12.24 Posted: 04.05.23 Status: Active

Summary

Price $2,783,250	Built/Renov 1970	Tenant Rite Aid
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Corp Traded
Size/SF 13,059	Lease Start 12-16-2022	#Units 1,690
Price/SF $213.13	Expiration 12-15-2037	Tenant Type Pharmacy
NOI $166,995	R. Term 13.3	Ownership Fee Simple
Rent/SF $12.79	Increases 5.0%/6/yrs	Pop 5Mi 23,196
Lot/AC 1.27	Options 9/5yrs/5%	AHHI 5Mi $80,391

Brandon Hanna

ENCORE Real Estate Investment Services

Contact

Lease Highlights

Rite Aid has been operating in this location for 36+ years
Brand-new 15-year lease with 9 (5-year) options to extend
Lease features 5% rental increases in years 6 and 11, and in each option
Absolute NNN with zero landlord responsibilities
Corporate guarantee by Rite Aid Corp. (NYSE: RAD)

Location Description

This Rite Aid is positioned at a stand-alone location at the signalized, hard corner intersection of W Main Street and Collinsburg Rd (17,899 VPD). The property is located within 5 miles of Highway 51, a primary thoroughfare leading directly to Pittsburgh. The site has been successfully operating as a Rite Aid for over 36 years. Nearby retailers include Subway, Dollar General, and Ace...

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Key Features

Signalized intersection
Hard corner intersection
In location for years
Highway location
Top 100 MSA
Absolute NNN
Long 10+ yr lease
Traded and rated company
Corporate Guarantee

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Links

Rite Aid Wikipedia Rite Aid Wikipedia West Newton, Pennsylvania Zip Code 15089 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...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	3,647	9,728	22,177
2023 Total Population :	3,686	9,807	22,455
2023 Employed Civilian Pop :	1,558	4,621	10,762
2023 Total Businesses :	109	310	688
2023 Average Household Income :	$ 69,843	$ 99,535	$ 94,765
2023 Total Consumer Spending :	$ 105 M	$ 367 M	$ 799 M
2023 Median Age :	49	49	49
2023 Total Households :	1,695	4,202	9,662
2023 Pop Age 25+: Bachelor's Degree :	365	1,373	3,016
2023 Average Home Value :	$ 214,415	$ 267,809	$ 258,707

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
West Main Street	Collinsburg Rd	2021	6,850	0.09 mi
Cross Street	Cross St	2020	3,689	0.32 mi
N Water St	Cross St	2017	3,967	0.35 mi
W Main St	Grant St	2017	6,081	0.43 mi
Penn Street	S 6th St	2020	35	0.43 mi
West Main Street	Fisher Ln	2020	5,555	0.48 mi
Vernon Drive	Rolling Farm Dr	2021	1,021	0.52 mi
Vernon Dr	Pemberton Pl	2017	932	0.53 mi
East Main Street	Hill St	2021	6,244	0.69 mi
State Route 3023	Coal Hollow Rd	2021	206	0.71 mi

Listing Broker

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