Drug Store
Two Store Rite Aid Portfolio
1804 Golden Mile Hwy, Pittsburgh, PA 15239
Listing Price: $7,985,213
Investment Overview
Marcus & Millichap is pleased to present for sale the fee simple purchase of two Rite Aid properties located in the Pittsburgh MSA. Both properties have had long term and proven success at their respective locations. Rite Aid recently committed to a 10 Year lease extension at the Irwin location demonstrating commitment to the site. The properties must be purchased as a portfolio. Below market rent along with strong store sales make this offering attractive for any passive investor.
Two Store Rite Aid Portfolio
Investment Highlights
- Absolute Net Leases- Zero Landlord Responsibility
- Corporate Guarantee From Rite Aid Corporation (NYSE: RAD)
- Recent 10 Year Lease Extension at Irwin Location Providing a Blended Lease Term of ~9.5 Years Between Both Properties
- 20+ Year Operating History at Both Locations
- Immediate Rent Bump in 2024 | 10% Rental Increases in Option Periods
- Strong Rent-To-Sales Ratio at Both Locations
- Recently Upgraded Branding on Both Store Facades
- Very Minimal Competition | Strong Real Estate Fundamentals
Exclusively Listed By
Financing By
Listing Price: $7,985,213
Investment Highlights
- Absolute Net Leases- Zero Landlord Responsibility
- Corporate Guarantee From Rite Aid Corporation (NYSE: RAD)
- Recent 10 Year Lease Extension at Irwin Location Providing a Blended Lease Term of ~9.5 Years Between Both Properties
- 20+ Year Operating History at Both Locations
- Immediate Rent Bump in 2024 | 10% Rental Increases in Option Periods
- Strong Rent-To-Sales Ratio at Both Locations
- Recently Upgraded Branding on Both Store Facades
- Very Minimal Competition | Strong Real Estate Fundamentals
Investment Overview
Marcus & Millichap is pleased to present for sale the fee simple purchase of two Rite Aid properties located in the Pittsburgh MSA. Both properties have had long term and proven success at their respective locations. Rite Aid recently committed to a 10 Year lease extension at the Irwin location demonstrating commitment to the site. The properties must be purchased as a portfolio. Below market rent along with strong store sales make this offering attractive for any passive investor.
Exclusively Listed By
Financing By
