Property details
Rite Aid Drug Store, Southeast Region
Property Description
Rite Aid Drug Store across the street from a brand new WalMart Supercenter. Growing area, new prototype. new absolute 20yr. NNN with options. Rent increases in place. Rite Aid Corporation, new prototype, absolute NNN lease. Good future outlook.
Tenants other than Rite Aid Drug Store
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Images
Highlights
- Status:
- Available
- Price:
- $4,254,359
- PSF:
- $292
- Cap Rate:
- 7.25%
- Annual Rent:
- $308,441
- Rent Increases:
- Rent Increases from years 11-20, annual rent up $339,285
Property Information
- Building Size:
- 14,564 sq.ft.
- Property Type:
- Net Lease
- Industry Type:
- Drug - Pharmacy
- Units/Spaces:
- 1
- Year Built:
- 2007
- Land Area:
- 1.70 acres
- Purchase Tenure:
- Fee Simple
Lease information
- Tenant:
- Rite Aid
- Lease Type:
- NNN
- Lease Commencement:
- 12/15/2007
- Lease Expiration:
- 12/14/2027
- Lease Term:
- 20 years
- Years Remaining:
- 18 years
- Landlord Responsibilities:
- none
- Options:
- 6 Five year options after 20yr initial term. 10% increase in each option
Existing financing information
- N/A
The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.