Rite Aid

3230 West Elm Street, Lima, OH 45805

$4,176,000

Cap Rate 7.50%

Views: 104 DOM: 528 Updated: 07.16.24 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 7.6	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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Key Features

Signalized intersection
Hard corner intersection
Roof guarantee
Near major nationals
Strategically located
Long operation history
Favorable NN+ lease
Top performing store
Traded and rated company
Corporate Guarantee

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Links

Rite Aid Wikipedia Rite Aid Wikipedia Lima, Ohio Zip Code 45805 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 :	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

Eric Carlton

Colliers NNN Group

Contact

160 Listings
13730 Views
52 Sold

Jereme Snyder

Colliers NNN Group

Contact

147 Listings
12662 Views
49 Sold

Eric Carlton

Eric Carlton serves as Executive Vice President within the Retail Capital Markets Group of Greater Los Angeles, Partner of the Colliers NNN Group, and Co-Founder of the Snyder/Carlton Team for Colliers International nationwide. The Colliers Retail Services Group is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting i

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Jereme Snyder

Jereme S. Snyder is a Executive Vice President within the Retail Services Group in Greater Los Angeles and a Director of Colliers NNN Group for Colliers International nationwide. The Colliers Retail Services Team is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting in debt solutions. Colliers NNN Group is a national

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