Drug Store
Rite Aid
3071 South Park Ave, Buffalo, NY 14218
Listing Price: $2,612,000
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for a freestanding, triple net (NNN) Rite Aid Pharmacy located at 3071-3085 South Park Avenue in Lackawanna (Buffalo), New York. The site consists of a 10,386-square-foot building on an estimated 0.92-acre parcel of land. Rite Aid is subject to an original 20-year NNN lease, which commenced in 1997 and expires in February of 2029. The lease has three, five-year option periods remaining with rent increases of approximately 5 percent during each option period. The current annual rent is $189,342.
Rite Aid
Investment Highlights
- Freestanding 10,386 SF Rite Aid
- NNN Lease
- Tenant Exercised Second Option Early, Demonstrating Strong Commitment To the Location
- Signalized Entrance
- Attractive 5% Rental Increase For Each Option
- Tenant Renewal Options: Three (3) Periods of Five (5) Years
- Corporate Guaranty
- Double Drive Through Window
Listing Price: $2,612,000
Investment Highlights
- Freestanding 10,386 SF Rite Aid
- NNN Lease
- Tenant Exercised Second Option Early, Demonstrating Strong Commitment To the Location
- Signalized Entrance
- Attractive 5% Rental Increase For Each Option
- Tenant Renewal Options: Three (3) Periods of Five (5) Years
- Corporate Guaranty
- Double Drive Through Window
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for a freestanding, triple net (NNN) Rite Aid Pharmacy located at 3071-3085 South Park Avenue in Lackawanna (Buffalo), New York. The site consists of a 10,386-square-foot building on an estimated 0.92-acre parcel of land. Rite Aid is subject to an original 20-year NNN lease, which commenced in 1997 and expires in February of 2029. The lease has three, five-year option periods remaining with rent increases of approximately 5 percent during each option period. The current annual rent is $189,342.
