Rite Aid

9635 William Penn Highway, Huntingdon, PA 16652

$2,185,000

Cap Rate 8.00%

Views: 163 DOM: 156 Updated: 10.14.24 Posted: 06.19.24 Status: Contract 09.25.24

Summary

Price $2,185,000	Built/Renov 2007	Tenant Rite Aid
Cap Rate 8.00%	Lease Type Abs NNN	Guarantor Corp Traded
Size/SF 14,669	Lease Start 11-09-2021	#Units 1,690
Price/SF $148.95	Expiration 11-30-2036	Tenant Type Pharmacy
NOI $174,800	R. Term 12.0	Ownership Fee Simple
Rent/SF $11.92	Increases 10.5%/2/yrs	Pop 5Mi 15,350
Lot/AC 3.31	Options 9/5yrs/5%	AHHI 5Mi $79,622

Lease Highlights

Rite Aid has 12+ years remaining on the current lease term with 9 (5-year) options to extend
The lease features fluctuating increases throughout the initial term and 5% at the start of each option period
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Rite Aid is strategically located at the signalized, hard corner intersection of William Penn Highway and S 4th Street, with access to a combined daily traffic count of 15,835 vehicles. The property is surrounded by well-known national tenants, including Tractor Supply Co., Giant Food Stores, Taco Bell, Family Dollar, Advance Auto Parts, and more. This prime location is further enhanced as the...

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Key Features

Signalized intersection
Hard corner intersection
Near major nationals
Hospital close
Strong tenant synergy
Highway close
Absolute NNN
Long 10+ yr lease
Corporate Guarantee
Publicly traded company

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Links

Rite Aid Wikipedia Rite Aid Wikipedia Huntingdon, Pennsylvania Zip Code 16652 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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Demographics

	1 Miles	3 Miles	5 Miles
2029 Total Population :	3,534	12,705	15,011
2024 Total Population :	3,604	12,847	15,195
2024 Employed Civilian Pop :	1,655	4,485	5,520
2024 Total Businesses :	430	648	709
2024 Average Household Income :	$ 69,338	$ 89,821	$ 91,747
2024 Total Consumer Spending :	$ 110 M	$ 323 M	$ 410 M
2024 Median Age :	40	40	41
2024 Total Households :	1,775	4,055	5,024
2024 Pop Age 25+: Bachelor's Degree :	362	1,286	1,572
2024 Average Home Value :	$ 217,853	$ 277,596	$ 297,648

*ESRI data is presented for informational purposes only

Listing Broker

Ian Schroeder

CBRE: NLPG Newport

Contact

18 Listings
2446 Views
2 Sold

Melissa Ley Marshall

CBRE: NLPG Newport

Contact

18 Listings
2446 Views
2 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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