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Views: 45 DOM: 87 Updated: 06.10.24 Posted: 04.16.24 Status: Active

Summary

Price $4,207,407
Built/Renov 2007
Tenant Rite Aid
Cap Rate 6.75%
Lease Type Abs NNN
Guarantor Corp Traded
Size/SF 14,564
Lease Start 10-18-2007
#Units 1,690
Price/SF $288.89
Expiration 12-31-2029
Tenant Type Pharmacy
NOI $284,000
R. Term 5.5
Ownership Fee Simple
Rent/SF $19.50
Increases 0.0%/0/yrs
Pop 5Mi 59,100
Lot/AC 2.56
Options 6/5yrs/10%
AHHI 5Mi $101,000

Lease Highlights

  • Rite Aid has been operating in this location since 2007
  • The tenant has 5+ years remaining on the current lease term with 6 (5-year) options to extend
  • The lease features 10% rental escalations at the start of every other option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Rite Aid is strategically located the hard corner intersection of Sylvania-Metamora Road and Centennial Road, surrounded by Mayberry Village Active Adult Apartments and Mayberry Square Shoppes. The 5-mile trade area is supported by a population of 59,100 residents with an average household income of $101,000. Sylvania is a city in Lucas County, Ohio with a population of approximately 20,000...

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Maps

  • 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 : 5,336 27,154 59,914
2023 Total Population : 5,342 27,371 60,395
2023 Employed Civilian Pop : 2,678 13,505 30,798
2023 Total Businesses : 58 864 2,565
2023 Average Household Income : $ 165,744 $ 145,291 $ 126,063
2023 Total Consumer Spending : $ 260 M $ 1293 M $ 2685 M
2023 Median Age : 42 42 43
2023 Total Households : 1,884 10,490 24,944
2023 Pop Age 25+: Bachelor's Degree : 1,355 5,891 11,668
2023 Average Home Value : $ 294,422 $ 292,398 $ 273,376
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Centennial Rd Doyle Dr 2017 3,015 0.08 mi
Sylvania-Metamora Road Heidaway Ln 2021 8,956 0.09 mi
North Centennial Road Doyle Dr 2021 3,584 0.21 mi
SYLVANIA-METAMORA RD Eagle TrceDr 2020 8,455 0.24 mi
Sylvania-Metamora Road Smith Farm Rd 2021 6,482 0.51 mi
Fox Hollow Court Ivywood Ln 2021 143 0.51 mi
North Centennial Road Little Rd 2021 7,209 0.54 mi
Sylvania-Metamora Road Settlers Ridge Cir 2021 6,159 0.74 mi
Clark Rd Yankee Rd 2014 2,168 0.81 mi
North Centennial Road Little Rd 2021 8,138 0.82 mi

Listing Broker

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