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Drug Store

Rite Aid

3071 South Park Ave, Buffalo, NY 14218

Listing Price: $2,612,000

Cap Rate
7.25%
Tenant Name
RITE AID
Years Remaining On Lease
5.7
Gross SF
10,386
Guarantor
Corporate Guarantee
Rentable SF
10,386
Price/Gross SF
$251.49
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$18.23

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.

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

Exclusively Listed By

  • Joseph French Jr.

    Licensed Associate Real Estate Broker

    (914) 220-9740

    Email Joseph

    License(s): PA: AB067393, NY: 10301207036, CT: REB.0239741, NJ: 9210310

    Westchester

  • Kodi Traver

    Licensed Real Estate Salesperson

    (914) 220-9758

    Email Kodi

    License(s): NY: 10401335618

    Westchester

  • Matthew Gault

    Licensed Real Estate Salesperson

    (914) 220-9745

    Email Matthew

    License(s): NY: 10401313423

    Westchester

Financing By

Listing Price: $2,612,000

Cap Rate
7.25%
Tenant Name
RITE AID
Years Remaining On Lease
5.7
Gross SF
10,386
Guarantor
Corporate Guarantee
Rentable SF
10,386
Price/Gross SF
$251.49
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$18.23

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.

Exclusively Listed By

  • Joseph French Jr.

    Licensed Associate Real Estate Broker

    (914) 220-9740

    Email Joseph

    License(s): PA: AB067393, NY: 10301207036, CT: REB.0239741, NJ: 9210310

    Westchester

  • Kodi Traver

    Licensed Real Estate Salesperson

    (914) 220-9758

    Email Kodi

    License(s): NY: 10401335618

    Westchester

  • Matthew Gault

    Licensed Real Estate Salesperson

    (914) 220-9745

    Email Matthew

    License(s): NY: 10401313423

    Westchester

Financing By

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