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Rite Aid
420 Hamilton Street, Geneva, NY 14456
$6,740,286
Cap Rate 8.75%
Summary
| Price $6,740,286 | Built/Renov 2009 | Tenant Rite Aid |
| Cap Rate 8.75% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
14,873
| Lease Start
03-06-2009
| #Units
2,309
|
| Price/SF $453.19 | Expiration
03-31-2029
| Tenant Type Pharmacy |
| NOI $589,775 | R. Term 5.3 | Ownership Fee Simple |
| Rent/SF
$39.65
| Increases 10.0%/6/yrs | Pop 5Mi 145,472 |
| Lot/AC 1.73 | Options 5/5yrs/10% | AHHI 5Mi $56,034 |
| | |
Lease Highlights
- Rite Aid has been operating in this location since 2009
- Tenant has 5+ years remaining on its current lease term with 5 (5-year) options to extend and 1 (3-year, 11 months)
- Rental escalations throughout the renewal options
- Absolute NNN lease with zero landlord responsibilities
- Corporate guarantee from Rite Aid Corp.
Location Description
This single tenant net leased Rite Aid property is positioned at the signalized intersection along Hamilton Street, which is the area’s retail corridor and experiences more than 19,560 vehicles per day. There are a number of nationally recognized tenants that support the immediate retail area, those of which include Walmart Supercenter, Wegmans, Tractor Supply Company, Big Lots, McDonald’s and...
...Features
-
Signalized intersection
-
Dense retail corridor
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Near major nationals
-
Highway location
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Top 100 MSA
-
Long operation history
-
Absolute NNN
-
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 : | 6,997 | 16,194 | 19,853 |
| 2023 Total Population : | 7,039 | 16,079 | 19,762 |
| 2023 Employed Civilian Pop : | 3,325 | 7,931 | 9,813 |
| 2023 Total Businesses : | 230 | 776 | 896 |
| 2023 Average Household Income : | $ 86,265 | $ 83,796 | $ 86,891 |
| 2023 Total Consumer Spending : | $ 191 M | $ 483 M | $ 616 M |
| 2023 Median Age : | 32 | 38 | 40 |
| 2023 Total Households : | 2,546 | 6,610 | 8,131 |
| 2023 Pop Age 25+: Bachelor's Degree : | 869 | 2,138 | 2,599 |
| 2023 Average Home Value : | $ 203,508 | $ 210,741 | $ 212,532 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| Cross St | 2021 | 598 | 0.12 mi | |
| Cross St | 2021 | 1,662 | 0.24 mi | |
| Washington St | Norwood Ave | 2019 | 4,164 | 0.26 mi |
| Washington Street | Monroe St | 2021 | 3,872 | 0.26 mi |
| Reed Street | W Washington St | 2021 | 1,366 | 0.33 mi |
| West Washington Street | Pre Emption Rd | 2021 | 2,737 | 0.39 mi |
| Pre Emption Rd | Lenox Rd | 2019 | 2,943 | 0.39 mi |
| Hamilton Street | Reed St | 2021 | 20,324 | 0.40 mi |
| Washington St | 2021 | 156 | 0.42 mi | |
| Division St | 2021 | 148 | 0.50 mi |
