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Drug Store

Rite Aid | 9 Years Remaining | Reported Stores Sales of Over $9M

3300 E Market St, York, PA 17402

Listing Price: $9,084,067

Cap Rate
6.00%
Tenant Name
Rite Aid
Years Remaining On Lease
8.8
Guarantor
Corporate Guarantee
Rentable SF
14,673
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$37.15

Investment Overview

The Tenant, Rite Aid Corporation, has more than nine years remaining on an absolute NNN lease with six, five-year renewal options. The tenant expressed interest in doing an early extension of the lease, however, with the robust sales, present ownership declined. The purchaser will benefit from rental increases of 15 percent in the first option, 10 percent in the third option and fair market value in the final two options. Rite Aid reports very strong sales which increased nearly five percent over the prior year, and are available from the listing agent. Most recent store sales for 2021 are in excess of $9.368 million, or $638-per-square-foot. Geofencing data from Placer.ai supports that this is a high-performing store. It ranks in the top 10 percent statewide, #14 of 419 stores, with 130 thousand annual customer visits, and is the third best of 40 stores within 30-miles. The 14,673-square-foot store with dual drive-thru has three means of access, which includes rear access and visibility via Eastern Boulevard. This parcel would be highly desired by many commercial users.

Investment Highlights

  • Exceptional, Upward Trending Sales;
  • Ranked Top 10 Percent Statewide by Placer.Ai
  • Prominent 2.28-Acre Signalized Corner Location

Broker of Record

  • Sean Beuche

    Vice President/Regional Manager

    (215) 531-7000

    License(s) PA: RM424190

    Pennsylvania

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Drug Store

Rite Aid | 9 Years Remaining | Reported Stores Sales of Over $9M

Listing Price: $9,084,067

Cap Rate
6.00%
Tenant Name
Rite Aid
Years Remaining On Lease
8.8
Guarantor
Corporate Guarantee
Rentable SF
14,673
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$37.15

Investment Highlights

  • Exceptional, Upward Trending Sales;
  • Ranked Top 10 Percent Statewide by Placer.Ai
  • Prominent 2.28-Acre Signalized Corner Location

Investment Overview

The Tenant, Rite Aid Corporation, has more than nine years remaining on an absolute NNN lease with six, five-year renewal options. The tenant expressed interest in doing an early extension of the lease, however, with the robust sales, present ownership declined. The purchaser will benefit from rental increases of 15 percent in the first option, 10 percent in the third option and fair market value in the final two options. Rite Aid reports very strong sales which increased nearly five percent over the prior year, and are available from the listing agent. Most recent store sales for 2021 are in excess of $9.368 million, or $638-per-square-foot. Geofencing data from Placer.ai supports that this is a high-performing store. It ranks in the top 10 percent statewide, #14 of 419 stores, with 130 thousand annual customer visits, and is the third best of 40 stores within 30-miles. The 14,673-square-foot store with dual drive-thru has three means of access, which includes rear access and visibility via Eastern Boulevard. This parcel would be highly desired by many commercial users.

Broker of Record

  • Sean Beuche

    Vice President/Regional Manager

    (215) 531-7000

    License(s): PA: RM424190

    Pennsylvania

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

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