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Drug Store

Rite Aid Absolute NNN Lease Latest Prototype

5050 Gratiot Rd, Saginaw, MI 48603

Listing Price: $3,285,714

Cap Rate
7.00%
Tenant Name
Rite Aid of Michigan
Years Remaining On Lease
6.7
Guarantor
Corporate Guarantee
Rentable SF
11,114
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$20.69

Investment Overview

Marcus & Millichap is please to present for sale this Rite Aid Pharmacy store located at 5050 Gratiot Road in Saginaw, Michigan. Saginaw is a city in Mid- Michigan with a population over 190,124 and it is the largest municipality in the Saginaw, Midland, Bay City Metropolitan Area with a population exceeding 377,474. Saginaw has seen recent economic development in the region with comparative advantages in innovation, clean energy and manufacturing exports. Compared to other mid-sized communities, Saginaw has more than 81 times the average US share of jobs in photovoltaic technology research and production. The city continues to have a higher proportion of manufacturing jobs than the average US city. Numerous apartment complexes surround this Rite Aid Pharmacy property including Township Court Apartments with 143 rented units, Camelot Place Apartments with 282 rented units, Birch Hill Apartments with 120 rented units, The Poplars Apartments with 105 rented units, The Heights Apartments with 110 rented units and Olive tree Apartments with 112 rented units. This prime property is also located nearby Ascension St. Mary’s Hospital serving the community with 268 Beds and Saginaw V.A. Medical Center serving over 35,000 Michigan veterans with 93 Beds. Also in close proximity to this property is the Saginaw Children’s Zoo located on 10 acres and hosting hundreds of visitors every year. Rite Aid is an American drugstore chain based in Philadelphia, Pennsylvania founded in 1962. The company is ranked 148 in the Fortune 500 list of largest United States corporations by total revenue. Rite Aid is publicly traded in the New York Stock Exchange under the symbol RAD. In June 2017, Walgreens Boots Alliance announced it would buy roughly half of Rite Aid’s stores for %5.18 Billion and then another 1,932 stores from Rite Aid for $4.38 Billion. As of 2022 there are 2,288 locations and for Fiscal Year Ending 2021 Revenue was US $24.04 Billion.

Investment Highlights

  • Rite Aid Pharmacy Located in Saginaw, MI – The largest Municipality in the Saginaw/Midland/Bay City Metro Area
  • Hard Corner Signalized Intersection | Exposure to More Than 35,500 Vehicles Per Day
  • Average Household Income Exceeds $83,000 in a One Mile Radius
  • Rite Aid Company is ranked 148 out of 500 in Fortune 500 List of Largest United States Corporations
  • Rite Aid Locations Number 2,288 in the United States and as of 2022, US $24.04 Billion Revenue for Fiscal Year Ending 2021

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s) MI: 6502387903

    Michigan

Financing By

Drug Store

Rite Aid Absolute NNN Lease Latest Prototype

Listing Price: $3,285,714

Cap Rate
7.00%
Tenant Name
Rite Aid of Michigan
Years Remaining On Lease
6.7
Guarantor
Corporate Guarantee
Rentable SF
11,114
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$20.69

Investment Highlights

  • Rite Aid Pharmacy Located in Saginaw, MI – The largest Municipality in the Saginaw/Midland/Bay City Metro Area
  • Hard Corner Signalized Intersection | Exposure to More Than 35,500 Vehicles Per Day
  • Average Household Income Exceeds $83,000 in a One Mile Radius
  • Rite Aid Company is ranked 148 out of 500 in Fortune 500 List of Largest United States Corporations
  • Rite Aid Locations Number 2,288 in the United States and as of 2022, US $24.04 Billion Revenue for Fiscal Year Ending 2021

Investment Overview

Marcus & Millichap is please to present for sale this Rite Aid Pharmacy store located at 5050 Gratiot Road in Saginaw, Michigan. Saginaw is a city in Mid- Michigan with a population over 190,124 and it is the largest municipality in the Saginaw, Midland, Bay City Metropolitan Area with a population exceeding 377,474. Saginaw has seen recent economic development in the region with comparative advantages in innovation, clean energy and manufacturing exports. Compared to other mid-sized communities, Saginaw has more than 81 times the average US share of jobs in photovoltaic technology research and production. The city continues to have a higher proportion of manufacturing jobs than the average US city. Numerous apartment complexes surround this Rite Aid Pharmacy property including Township Court Apartments with 143 rented units, Camelot Place Apartments with 282 rented units, Birch Hill Apartments with 120 rented units, The Poplars Apartments with 105 rented units, The Heights Apartments with 110 rented units and Olive tree Apartments with 112 rented units. This prime property is also located nearby Ascension St. Mary’s Hospital serving the community with 268 Beds and Saginaw V.A. Medical Center serving over 35,000 Michigan veterans with 93 Beds. Also in close proximity to this property is the Saginaw Children’s Zoo located on 10 acres and hosting hundreds of visitors every year. Rite Aid is an American drugstore chain based in Philadelphia, Pennsylvania founded in 1962. The company is ranked 148 in the Fortune 500 list of largest United States corporations by total revenue. Rite Aid is publicly traded in the New York Stock Exchange under the symbol RAD. In June 2017, Walgreens Boots Alliance announced it would buy roughly half of Rite Aid’s stores for %5.18 Billion and then another 1,932 stores from Rite Aid for $4.38 Billion. As of 2022 there are 2,288 locations and for Fiscal Year Ending 2021 Revenue was US $24.04 Billion.

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s): MI: 6502387903

    Michigan

Financing By

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