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Views: 77 DOM: 483 Updated: 05.20.24 Posted: 02.15.23 Status: Active

Summary

Price $4,176,000
Built/Renov 2008
Tenant Rite Aid
Cap Rate 7.50%
Lease Type NN+
Guarantor Corp Traded
Size/SF 14,655
Lease Start 09-24-2007
#Units 1,690
Price/SF $284.95
Expiration 01-31-2032
Tenant Type Pharmacy
NOI $313,216
R. Term 7.7
Ownership Fee Simple
Rent/SF $21.37
Increases 0.0%/9/yrs
Pop 5Mi 68,079
Lot/AC 2.06
Options 6/5yrs
AHHI 5Mi $59,347

Lease Highlights

  • Rite Aid has been operating at this location since 2007
  • Strong store performance - Top 33% in the State; #1 of 5 in the County (CreditIntel)
  • The tenant has over 8.5 years remaining on its current lease term with 6 (5-year) options to extend
  • Lease offers a fixed $14,564 rental increases at each option
  • Corporate guarantee by Rite Aid Corp. (NYSE: RAD)

Location Description

Rite Aid is strategically located at the signalized, hard corner intersection of West Elm Street and S Eastown Road with a combined 22,385 vehicles passing per day. The subject property is within proximity to multiple national/credit tenants including Walmart, Lowe’s, McDonald’s, Hallmark, Dollar Tree, Planet Fitness, Goodwill and many more. Furthermore, the asset is ideally situated near the...

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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 : 4,327 35,106 65,013
2023 Total Population : 4,327 35,283 65,503
2023 Employed Civilian Pop : 2,246 16,488 29,135
2023 Total Businesses : 153 1,399 2,523
2023 Average Household Income : $ 77,275 $ 73,654 $ 69,699
2023 Total Consumer Spending : $ 133 M $ 961 M $ 1632 M
2023 Median Age : 43 40 39
2023 Total Households : 1,982 14,980 26,814
2023 Pop Age 25+: Bachelor's Degree : 496 3,209 5,223
2023 Average Home Value : $ 195,641 $ 167,601 $ 157,782
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
S Eastown Rd S Side Dr 2018 15,356 0.05 mi
W ELM ST S Eastown Rd 2020 7,403 0.06 mi
West Elm Street 2019 7,995 0.06 mi
W Elm St S Eastown Rd 2016 7,661 0.07 mi
S EASTOWN RD S Side Dr 2021 15,006 0.07 mi
S EASTOWN RD 2020 14,319 0.07 mi
West Market Street 2019 134 0.18 mi
W MARKET ST 2020 121 0.18 mi
West Elm Street Eagles Point St W 2021 5,014 0.20 mi
W MARKET ST N Eastown Rd 2020 3,961 0.20 mi

Listing Broker

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