Views: 2 DOM: 222 Updated: 11.28.23 Posted: 05.03.23 Status: Active


Price $5,169,758
Built/Renov 2007
Tenant Rite Aid
Cap Rate 8.25%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 14,564
Lease Start 02-01-2007
#Units 2,309
Price/SF $354.97
Expiration 01-31-2028
Tenant Type Pharmacy
NOI $426,505
R. Term 4.1
Ownership Fee Simple
Rent/SF $29.28
Increases 3.0%/4/yrs
Pop 5Mi 184,917
Lot/AC 2.23
Options 6/5yrs/3%
AHHI 5Mi $51,109

Lease Highlights

  • Rite Aid has been operating in this location since 2007
  • Tenant has over 4 years remaining in the current lease term with 6 (5-year) options to extend
  • Lease features 3% rental increases every 5 years throughout the initial term and at each option
  • Corporate guarantee by Rite Aid Corp. (Rite Aid Corp.)

Location Description

This single tenant net leased Rite Aid property benefits from its position along East Avenue, which leads to the center of Tallmadge and experiences more than 112,722 vehicles per day, and its close proximity to Interstate 76 (69,952 VPD). The local trade area is supported by a number of nationally recognized tenants that neighbor the Rite Aid property, including ALDI, Giant Eagle, Save-A-Lot,...



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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 : 5,136 59,465 182,345
2023 Total Population : 5,243 60,267 184,600
2023 Employed Civilian Pop : 2,635 29,598 88,462
2023 Total Businesses : 332 1,789 6,409
2023 Average Household Income : $ 96,903 $ 77,042 $ 73,928
2023 Total Consumer Spending : $ 206 M $ 1766 M $ 5171 M
2023 Median Age : 49 43 40
2023 Total Households : 2,458 26,284 80,158
2023 Pop Age 25+: Bachelor's Degree : 923 7,854 23,824
2023 Average Home Value : $ 224,881 $ 188,574 $ 180,641
*ESRI data is presented for informational purposes only

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