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Drug Store

Rite Aid | 13+ Years Remaining | Wilmington, DE MSA | Replicable Rental Rate

501 E Basin Rd, New Castle, DE 19720

Listing Price: $2,283,465

Cap Rate
6.35%
Tenant Name
Rite Aid
Years Remaining On Lease
13.4
Guarantor
Corporate Guarantee
Rentable SF
10,760
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$13.48

Investment Overview

Originally operated as an Eckerd, which Rite Aid acquired in 2006, Rite Aid executed a sale leaseback on this location in November 2021. There are more than 13 years remaining on the 15-year absolute NNN lease that features rental increases of 5% every five years during the base term and nine, five-year option periods*. This is a mature location operating here since 1987, and geofencing data from Placer.ai supports that this is a high-performing store. It ranks in the 74th percentile of stores in Delaware with 99.1 thousand annual customer visits.

Investment Highlights

  • Established Location with 35-Year Operating History
  • 13+ Years Remaining
  • Mature Population of 48,084 Within 3-Miles

Exclusively Listed By

  • Josh Ein

    First Vice President Investments

    (202) 536-3726

    Email Josh

    License(s): DC: SP98371724, MD: 643676, VA: 0225242141

    Washington, D.C.

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

    License(s): MD: 665335, VA: 0225239201

    Washington, D.C.

  • David S. Crotts

    First Vice President Investments

    (202) 536-3757

    Email David

    License(s): MD: 652010, VA: 0225208906, DC: SP98374073

    Washington, D.C.

Broker of Record

  • Sean Beuche

    Vice President/Regional Manager

    (215) 531-7000

    License(s) DE: RB-0031090

    Delaware

Financing By

  • Jared Cassidy

    First Vice President, Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Drug Store

Rite Aid | 13+ Years Remaining | Wilmington, DE MSA | Replicable Rental Rate

Listing Price: $2,283,465

Cap Rate
6.35%
Tenant Name
Rite Aid
Years Remaining On Lease
13.4
Guarantor
Corporate Guarantee
Rentable SF
10,760
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$13.48

Investment Highlights

  • Established Location with 35-Year Operating History
  • 13+ Years Remaining
  • Mature Population of 48,084 Within 3-Miles

Investment Overview

Originally operated as an Eckerd, which Rite Aid acquired in 2006, Rite Aid executed a sale leaseback on this location in November 2021. There are more than 13 years remaining on the 15-year absolute NNN lease that features rental increases of 5% every five years during the base term and nine, five-year option periods*. This is a mature location operating here since 1987, and geofencing data from Placer.ai supports that this is a high-performing store. It ranks in the 74th percentile of stores in Delaware with 99.1 thousand annual customer visits.

Exclusively Listed By

  • Josh Ein

    First Vice President Investments

    (202) 536-3726

    Email Josh

    License(s): DC: SP98371724, MD: 643676, VA: 0225242141

    Washington, D.C.

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

    License(s): MD: 665335, VA: 0225239201

    Washington, D.C.

  • David S. Crotts

    First Vice President Investments

    (202) 536-3757

    Email David

    License(s): MD: 652010, VA: 0225208906, DC: SP98374073

    Washington, D.C.

Broker of Record

  • Sean Beuche

    Vice President/Regional Manager

    (215) 531-7000

    License(s): DE: RB-0031090

    Delaware

Financing By

  • Jared Cassidy

    First Vice President, Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

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