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Drug Store

Rite Aid

5751 Clarkston Rd, Clarkston, MI 48348

Listing Price: $5,550,000

Cap Rate
7.58%
Tenant Name
Rite Aid
Years Remaining On Lease
4.6
Gross SF
11,180
Guarantor
Corporate Guarantee
Rentable SF
11,180
Price/Gross SF
$496.42
Lease Type
Double Net
Rent Per Square Feet
$37.64

Investment Overview

Rite Aid occupies the 11,180 SqFt building on a corporately guaranteed double-net (NN) lease. Rite Aid of Michigan Inc. is the guarantor of the lease Rite Aid’s initial term is set to expire on January 31st, 2027. Rite Aid has four (4) five-year extension options with an average 2.56% rental increase per option.

Investment Highlights

  • 4.5+ Years Remaining on Corporately Guaranteed Lease
  • Strong Real Estate Fundamentals - Drive Thru Location
  • Affluent Demographics - Clarkston, Michigan
  • Proximity to Interstate-75 and Various Attractions

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s) MI: 6502387903

    Michigan

Listing Price: $5,550,000

Cap Rate
7.58%
Tenant Name
Rite Aid
Years Remaining On Lease
4.6
Gross SF
11,180
Guarantor
Corporate Guarantee
Rentable SF
11,180
Price/Gross SF
$496.42
Lease Type
Double Net
Rent Per Square Feet
$37.64

Investment Highlights

  • 4.5+ Years Remaining on Corporately Guaranteed Lease
  • Strong Real Estate Fundamentals - Drive Thru Location
  • Affluent Demographics - Clarkston, Michigan
  • Proximity to Interstate-75 and Various Attractions

Investment Overview

Rite Aid occupies the 11,180 SqFt building on a corporately guaranteed double-net (NN) lease. Rite Aid of Michigan Inc. is the guarantor of the lease Rite Aid’s initial term is set to expire on January 31st, 2027. Rite Aid has four (4) five-year extension options with an average 2.56% rental increase per option.

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s): MI: 6502387903

    Michigan

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