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Views: 81 Updated: 12.27.23 Posted: 05.03.23 Status: Inactive

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 4.8
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,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

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...


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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
*ESRI data is presented for informational purposes only

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

Listing Broker

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