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Drug Store

Rite Aid

100 Conhocton St, Corning, NY 14830

Listing Price: $4,575,612

Cap Rate
6.00%
Tenant Name
Rite Aid
Years Remaining On Lease
8.2
Guarantor
Corporate Guarantee
Rentable SF
13,813
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$19.88

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Rite Aid located at 100 Conhocton Street, Corning, NY 14830. The site consists of roughly 13,813 rentable square feet of building space on estimated 2.10-acre parcel of land. Rite Aid is subject to a 7.5-year absolute triple-net (NNN) lease, which commenced October 23rd, 2003. The current annual rent is $274,536 and is scheduled to increase by 21.77%, 2.07%, 2.02%, and 1.98% throughout each of the four (4), five (5)-year tenant renewal option periods.

Investment Highlights

  • Passive Income –Over 7.5 Years Remaining on an Absolute Triple-Net (NNN) Lease with Four (4) –Five (5) Year Tenant Renewal Option Periods Bringing Potential Lease Term up to More Than 27 Years
  • Attractive Rental Increases Throughout Option Periods
  • Corporate Guarantee –Lease Corporately Guaranteed by Rite Aid, the 3rdLargest Retail Pharmacy, Health and Daily Living Destination in the U.S.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

  • Judson Kauffman

    Licensed Real Estate Salesperson

    (212) 430-5204

    Email Judson

    License(s): NY: 40KA1034273, NY: 10401296108

    Manhattan

Listing Price: $4,575,612

Cap Rate
6.00%
Tenant Name
Rite Aid
Years Remaining On Lease
8.2
Guarantor
Corporate Guarantee
Rentable SF
13,813
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$19.88

Investment Highlights

  • Passive Income –Over 7.5 Years Remaining on an Absolute Triple-Net (NNN) Lease with Four (4) –Five (5) Year Tenant Renewal Option Periods Bringing Potential Lease Term up to More Than 27 Years
  • Attractive Rental Increases Throughout Option Periods
  • 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 100 Conhocton Street, Corning, NY 14830. The site consists of roughly 13,813 rentable square feet of building space on estimated 2.10-acre parcel of land. Rite Aid is subject to a 7.5-year absolute triple-net (NNN) lease, which commenced October 23rd, 2003. The current annual rent is $274,536 and is scheduled to increase by 21.77%, 2.07%, 2.02%, and 1.98% throughout each of the four (4), five (5)-year tenant renewal option periods.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

  • Judson Kauffman

    Licensed Real Estate Salesperson

    (212) 430-5204

    Email Judson

    License(s): NY: 40KA1034273, NY: 10401296108

    Manhattan

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