Views: 5 DOM: 220 Updated: 11.28.23 Posted: 05.03.23 Status: Active


Price $2,336,871
Built/Renov 1996
Tenant Rite Aid
Cap Rate 8.50%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 11,325
Lease Start 11-01-1996
#Units 2,309
Price/SF $206.35
Expiration 10-25-2026
Tenant Type Pharmacy
NOI $198,634
R. Term 2.10
Ownership Fee Simple
Rent/SF $17.54
Increases 5.0%/3/yrs
Pop 5Mi 103,122
Lot/AC 0.98
Options 4/5yrs/5%
AHHI 5Mi $47,968

Lease Highlights

  • Rite Aid has been operating in this location for over 25 years
  • Tenant has over 3 years remaining in the current lease term with 4 (5-year) options to extend
  • Lease features 5% rental increases every 5 years throughout the initial term and at each option
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee by Rite Aid Corp. (Rite Aid Corp.)

Location Description

This net leased Rite Aid property is strategically located at the signalized, hard corner location along Belmont Ave (17,189 VPD), which is a primary north-south thoroughfare. The property is positioned just off of and can be easily accessed from Interstate 80 (50,096 VPD) and Route 711 (24,979). The nearby trade area benefits from strong tenant synergy, with tenants including Walmart...



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  • Tenant: Rite Aid
  • Guarantor:Corp T and Rated
  • Company:Rite Aid Corp.
  • # Units:2,309
  • Tenant S&P: CCC+
  • Moody’s: Caa2
  • Stock:NYSE: RAD

About Tenant

Rite Aid Corporation is one of the leading drugstore chains in the United States. It was founded in 1962 in Scranton, PA under the name Thrift D Discount Center. Rite Aid adopted its current name...



  1 Miles 3 Miles 5 Miles
2028 Total Population : 5,518 41,357 100,613
2023 Total Population : 5,603 41,872 102,053
2023 Employed Civilian Pop : 2,345 15,232 41,379
2023 Total Businesses : 305 2,061 3,509
2023 Average Household Income : $ 62,692 $ 53,273 $ 56,326
2023 Total Consumer Spending : $ 139 M $ 807 M $ 2180 M
2023 Median Age : 44 40 42
2023 Total Households : 2,522 17,185 43,947
2023 Pop Age 25+: Bachelor's Degree : 631 3,798 9,513
2023 Average Home Value : $ 144,974 $ 134,501 $ 135,761
*ESRI data is presented for informational purposes only


Collection Street Cross Street Year Traffic Vol Distance
Belmont Avenue Crumrine St 2021 16,314 0.04 mi
GYPSY LN Northview Blvd 2020 11,529 0.08 mi
Belmont Ave Granada Ave 2014 16,330 0.10 mi
E Gypsy Ln 2019 13,133 0.10 mi
Belmont Ave Colonial Dr 2018 19,899 0.19 mi
Gypsy Ln Goleta Ave 2019 12,450 0.19 mi
GYPSY LN Crumrine St 2020 11,846 0.19 mi
Roosevelt Dr Northview Blvd 2012 925 0.27 mi
Northview Blvd Roosevelt Dr 2012 849 0.31 mi
FREDERICK ST Colonial Dr 2020 4,316 0.32 mi

Listing Broker

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