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Views: 86 DOM: 548 Updated: 06.25.24 Posted: 01.11.23 Status: Active

Summary

Price $4,549,000
Built/Renov 2005
Tenant Rite Aid
Cap Rate 6.50%
Lease Type NN+
Guarantor Corp Traded
Size/SF 11,180
Lease Start 02-27-2006
#Units 1,690
Price/SF $406.89
Expiration 02-28-2034
Tenant Type Pharmacy
NOI $295,685
R. Term 9.7
Ownership Fee Simple
Rent/SF $26.45
Increases 5.0%/6/yrs
Pop 5Mi 97,006
Lot/AC 1.40
Options 6/5yrs/5%
AHHI 5Mi $76,223

Lease Highlights

  • Rite Aid has been operating at this location since 2006
  • Tenant has 11 years remaining in their current term with 6 (5-year) options to extend
  • Lease features a 5% rental increase beginning on March 2029
  • Corporate guarantee by Rite Aid Corp. (NYSE: RAD) 

Location Description

This Rite Aid is positioned at the signalized intersection of Rawsonville Rd. and W Huron River Drive and has excellent visibility and frontage along Rawsonville Rd (35,600+ VPD). It is also located within close proximity to Interstate 94 which boasts over 107,00 VPD. This is an extremely strong performing store with heavy foot traffic at the site. Located less than a mile from the Ford...

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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
2027 Total Population : 2,699 35,803 98,611
2022 Total Population : 2,641 35,303 98,180
2022 Employed Civilian Pop : 1,330 17,698 48,195
2022 Total Businesses : 87 569 2,242
2022 Average Household Income : $ 101,569 $ 87,247 $ 86,526
2022 Total Consumer Spending : $ 98 M $ 1138 M $ 3112 M
2022 Median Age : 44 37 37
2022 Total Households : 1,136 15,082 41,613
2022 Pop Age 25+: Bachelor's Degree : 311 4,632 12,863
2022 Average Home Value : $ 233,193 $ 226,820 $ 235,214
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W Huron River Dr Rawsonville Rd 2009 5,598 0.04 mi
Textile Rd Rawsonville Rd 2012 9,837 0.07 mi
Rawsonville Rd W Huron River Dr 2008 16,511 0.07 mi
Rawsonville Rd W Huron River Dr 2013 20,373 0.16 mi
RAWSONVILLE RD Textile Rd 2020 23,250 0.19 mi
Textile Rd McKean Rd 2015 9,431 0.34 mi
Bog Rd Rawsonville Rd 2008 1,738 0.38 mi
Rawsonville Rd Blackmore Ave 2004 14,636 0.45 mi
Rawsonville Rd Capitol Dr 2011 12,003 0.50 mi
W Huron River Dr Farm Rd 2005 7,303 0.51 mi

Listing Broker

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