Rite Aid

8310 Sylvania-Metamora Road, Sylvania, OH 43560

$4,207,407

Cap Rate 6.75%

Views: 117 DOM: 191 Updated: 09.10.24 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 5.2	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

Barry Silver

The Silver Group

Contact

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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Key Features

Signalized intersection
Hard corner intersection
Strategically located
Strong tenant synergy
Top 100 MSA
Affluent AHHI $100K 5 Mi
Long operation history
Limited competition
Corporate Guarantee
Publicly traded company

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Links

Rite Aid Wikipedia Rite Aid Wikipedia Sylvania, Ohio Zip Code 43560 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 :	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

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