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Views: 40 DOM: 41 Updated: 07.12.24 Posted: 06.01.24 Status: Active

Summary

Price $4,352,000
Built/Renov 2006
Tenant Rite Aid (GL)
Cap Rate 8.00%
Lease Type Abs NNN
Guarantor Corp Traded
Size/SF 14,584
Lease Start 07-31-2006
#Units 1,690
Price/SF $298.41
Expiration 08-31-2031
Tenant Type Pharmacy
NOI $348,125
R. Term 7.1
Ownership Ground Lease
Rent/SF $23.87
Increases 0.0%/0/yrs
Pop 5Mi 22,206
Lot/AC 2.39
Options 7/5yrs
AHHI 5Mi $104,315

Lease Highlights

  • Rite Aid has been operating in this location since 2006
  • The tenant has 7+ years remaining on the current ground lease term with 7 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and the start of the first 3 options, 15% or FMV escalations at the start of each remaining option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Rite Aid is strategically located at the signalized, hard corner intersection of West Street and W High Street, with access to a combined daily traffic count of 1,370 vehicles. The property is almost directly adjacent to the Gettysburg Recreation Sports Park, which features numerous sports and recreational facilities. This prime location is further enhanced as the next closest Rite Aid is 11...

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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 Scranton,...


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Listing Broker

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