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Rite Aid
147 West Liberty Street, Hubbard, OH 44425
$2,369,709
Cap Rate 8.25%
Summary
| Price $2,369,709 | Built/Renov 1996 | Tenant Rite Aid |
| Cap Rate 8.25% | Lease Type
Double NN | Guarantor Corp T and Rated |
| Size/SF
11,325
| Lease Start
04-01-1996
| #Units
2,309
|
| Price/SF $209.25 | Expiration
03-31-2029
| Tenant Type Pharmacy |
| NOI $195,501 | R. Term 5.3 | Ownership Fee Simple |
| Rent/SF
$17.26
| Increases 5.0%/5/yrs | Pop 5Mi 40,824 |
| Lot/AC 1.11 | Options 5/5yrs/5% | AHHI 5Mi $43,418 |
| | |
Lease Highlights
- Rite Aid has been operating in this location since 1996
- Tenant has over 5 years remaining in the current lease term with 5 (5-year) options to extend
- Lease features 5% rental increases every 5 years throughout the initial term and at each option
- Corporate guarantee by Rite Aid Corp. (Rite Aid Corp.)
Location Description
This single tenant net leased Rite Aid property is positioned along Liberty Street which experiences over 11,500 vehicles per day, and is also within proximity to Interstate 80 (34,400 VPD). This Rite Aid has been operating successfully at this location since it was constructed in 1996. There are several nationally recognized tenants that neighbor the property, including O’Reilly Auto Parts,...
...Features
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New prototype
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Hard corner intersection
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Near major nationals
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Highway location
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Strong tenant synergy
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Major MSA
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Long operation history
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Traded and rated company
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Over 2000 units backed
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Corporate Guarantee
...
Maps
Tenant
- Tenant: Rite Aid
- Guarantor:Corp T and Rated
- Company:Rite Aid Corp.
- # Units:2,309
- Tenant S&P: CCC+
- Moody’s: Caa2
- Stock:NYSE: RAD
About Tenant
Rite Aid Corporation is one of the leading drugstore chains in the United States. It was founded in 1962 in Scranton, PA under the name Thrift D Discount Center. Rite Aid adopted its current name...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 6,524 | 13,614 | 40,406 |
| 2023 Total Population : | 6,613 | 13,782 | 40,888 |
| 2023 Employed Civilian Pop : | 3,242 | 6,388 | 16,254 |
| 2023 Total Businesses : | 241 | 432 | 1,248 |
| 2023 Average Household Income : | $ 77,264 | $ 74,401 | $ 65,619 |
| 2023 Total Consumer Spending : | $ 212 M | $ 404 M | $ 1012 M |
| 2023 Median Age : | 46 | 47 | 45 |
| 2023 Total Households : | 3,141 | 6,192 | 17,558 |
| 2023 Pop Age 25+: Bachelor's Degree : | 820 | 1,634 | 4,288 |
| 2023 Average Home Value : | $ 137,281 | $ 153,120 | $ 156,167 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| S Main St | Church St | 2002 | 10,280 | 0.14 mi |
| N Main St | Orchard Ave SE | 2015 | 9,437 | 0.16 mi |
| East Liberty Street | Mackey St SE | 2021 | 7,916 | 0.19 mi |
| North Main Street | E Water St | 2021 | 11,977 | 0.24 mi |
| South Main Street | Clingan St | 2021 | 6,538 | 0.27 mi |
| Stewart St SE | Furlen Ct SE | 2012 | 1,341 | 0.30 mi |
| West Liberty Street | Viola Ave | 2021 | 12,021 | 0.31 mi |
| Rebecca Ave SE | School St SE | 2012 | 1,223 | 0.43 mi |
| N Main St | Mock St SE | 2008 | 13,700 | 0.44 mi |
| Caroline Ave | School St SE | 2012 | 1,342 | 0.53 mi |
