Rite Aid

10 West National Road, Vandalia, OH 45377

$2,817,637

Cap Rate 7.45%

Views: 179 DOM: 625 Updated: 09.12.24 Posted: 04.06.23 Status: Active

Summary

Price $2,817,637	Built/Renov 1997	Tenant Rite Aid
Cap Rate 7.45%	Lease Type NN+	Guarantor Corp Traded
Size/SF 11,180	Lease Start 07-07-1997	#Units 1,690
Price/SF $252.02	Expiration 07-06-2027	Tenant Type Pharmacy
NOI $209,914	R. Term 2.6	Ownership Fee Simple
Rent/SF $18.78	Increases 2.0%/4/yrs	Pop 5Mi 8,420
Lot/AC 1.43	Options 6/5yrs/2%	AHHI 5Mi $72,251

Lease Highlights

Rite Aid has been operating in this location for 26+ years
The tenant has over 4 years remaining on the current lease term with 6 (5-year) options to extend
Lease features 6% rental increases at each option period
Favorable NN+ lease with landlord responsibilites limited to roof and structure
Corporate guarantee by Rite Aid Corp. (NYSE: RAD)

Location Description

Rite Aid is strategically located at the signalized, hard corner intersection of West National Road and South Dixie Drive which sees a combined 30,265 vehicles passing per day and is near an I-75 freeway exit. Located along a major regional thoroughfare, nearby major national tenants include McDonald’s, Taco Bell, Arby’s, Wendy’s, Waffle House, Chipotle, Napa, Kroger, The Home Depot, Lowe’s,...

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Key Features

Signalized intersection
Hard corner intersection
In location for years
Major thoroughfare
Strategically located
Freeway close
Long operation history
Favorable NN+ lease
Traded and rated company
Over 2000 units backed

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Links

Rite Aid Wikipedia Rite Aid Wikipedia Vandalia, Ohio Zip Code 45377 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 :	6,080	20,001	72,673
2023 Total Population :	6,191	20,428	72,816
2023 Employed Civilian Pop :	3,451	11,127	36,533
2023 Total Businesses :	286	1,043	2,603
2023 Average Household Income :	$ 82,674	$ 95,362	$ 94,189
2023 Total Consumer Spending :	$ 207 M	$ 738 M	$ 2446 M
2023 Median Age :	41	45	44
2023 Total Households :	2,897	8,986	30,087
2023 Pop Age 25+: Bachelor's Degree :	847	2,971	9,852
2023 Average Home Value :	$ 172,769	$ 227,218	$ 219,133

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
National Road	Long St	2021	17,634	0.03 mi
N Dixie Dr	Orchard Ln	2006	13,500	0.13 mi
E National Rd	Maple St	2018	18,390	0.15 mi
S Dixie Dr	Scott Ave	2018	12,020	0.24 mi
East National Road	James Bohanan Dr	2021	17,768	0.32 mi
East National Road		2019	18,309	0.32 mi
North Dixie Drive		2019	14,275	0.33 mi
N DIXIE DR	Skyview Dr	2020	13,219	0.33 mi
E National Rd	Ranch View Dr	2006	24,300	0.41 mi
N Dixie Dr	Inverness Ave	2008	13,100	0.50 mi

Listing Broker

Brandon Hanna

ENCORE Real Estate Investment Services

Contact

38 Listings
5955 Views
9 Sold

Deno Bistolarides

ENCORE Real Estate Investment Services

Contact

78 Listings
10194 Views
31 Sold

Brandon Hanna

Brandon Hanna is a founding member and Managing Partner of Encore Real Estate Investment Services. Alongside his partners Deno Bistolarides and Ryan Vinco, Brandon oversees a team of seasoned investment professionals that focus on advising clients in the acquisition and disposition of net leased and multi-tenant retail assets throughout the United States. Throughout his investment brokerage career, Brandon has broken price per square foot records and cap rate records in nearly every market whic

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Deno Bistolarides

Deno Bistolarides is a founding member and Managing Partner of Encore Real Estate Investment Services. Along with his partners Brandon Hanna and Ryan Vinco, Deno oversees a team of seasoned investment professionals that focus on advising clients in the acquisition and disposition of net leased and multi-tenant retail assets throughout the United States. In his career, which has spanned over a decade, Deno has advised private clients, developers, institutions and has completed over 400 transacti

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