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Drug Store

Rite Aid

24 East Ave, Wellsboro, PA 16901

Listing Price: $4,666,100

Cap Rate
7.00%
Tenant Name
Rite Aid
Years Remaining On Lease
7.5
Guarantor
Corporate Guarantee
Rentable SF
13,813
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$23.65

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Rite Aid located at 24 East Avenue Wellsboro, PA 16901. The site consists of roughly 13,813 rentable square feet of building space on estimated 1.52-acre parcel of land. Rite Aid is subject to an 8.4-year absolute triple-net (NNN) lease, which commenced December 3rd, 2003. The current annual rent is $326,627 and is scheduled to increase by 13.22% and 1.86%, throughout each of the two (2), five (5)-year tenant renewal option periods.

Investment Highlights

  • Passive Income –Over 8 Years Remaining on an Absolute Triple-Net (NNN) Lease With No Landlord Responsibilities
  • Two (2) -Five (5) Year Tenant Renewal Option Periods with Attractive Increases Bringing Potential Lease Term up to over 18 Years
  • Corporate Guarantee –Lease Corporately Guaranteed by Rite Aid, the 3rdLargest Retail Pharmacy, Health and Daily Living Destination in the U.S.

Broker of Record

  • Sean Beuche

    Vice President/Regional Manager

    (215) 531-7000

    License(s) PA: RM424190

    Pennsylvania

Drug Store

Rite Aid

Listing Price: $4,666,100

Cap Rate
7.00%
Tenant Name
Rite Aid
Years Remaining On Lease
7.5
Guarantor
Corporate Guarantee
Rentable SF
13,813
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$23.65

Investment Highlights

  • Passive Income –Over 8 Years Remaining on an Absolute Triple-Net (NNN) Lease With No Landlord Responsibilities
  • Two (2) -Five (5) Year Tenant Renewal Option Periods with Attractive Increases Bringing Potential Lease Term up to over 18 Years
  • Corporate Guarantee –Lease Corporately Guaranteed by Rite Aid, the 3rdLargest Retail Pharmacy, Health and Daily Living Destination in the U.S.

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Rite Aid located at 24 East Avenue Wellsboro, PA 16901. The site consists of roughly 13,813 rentable square feet of building space on estimated 1.52-acre parcel of land. Rite Aid is subject to an 8.4-year absolute triple-net (NNN) lease, which commenced December 3rd, 2003. The current annual rent is $326,627 and is scheduled to increase by 13.22% and 1.86%, throughout each of the two (2), five (5)-year tenant renewal option periods.

Broker of Record

  • Sean Beuche

    Vice President/Regional Manager

    (215) 531-7000

    License(s): PA: RM424190

    Pennsylvania

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