Drug Store
Pittsburgh Rite Aid Portfolio
1804 Golden Mile Hwy, Pittsburgh, PA 15239
Listing Price: $6,850,000
Investment Overview
Marcus & Millichap is pleased to present for sale the fee simple purchase of two Rite Aid properties located in the Pittsburgh MSA. Both properties have had long term and proven success at their respective locations. Rite Aid has recently committed to exercise early 2-5 Year Options at the Irwin location demonstrating commitment to the site. The properties must be purchased as a portfolio. There is attractive assumable debt in place on the properties. Below market rent along with strong store sales make this offering attractive for any passive investor.
Pittsburgh Rite Aid Portfolio
Investment Highlights
- 9%+ Cash-on-Cash Return in Year One If Buyer Assumes Debt
- Recent Early Exercise of 2- 5 Year Options Providing 11+ Years of Base Term Remaining at Irwin Location
- Absolute Net Leases - Zero Landlord Responsibility
- Immediate Rent Bump in 2024 Increasing Cap Rate & Cash-on-Cash
- Strong Rent-to-Sales at Both Locations
- Minimal Competition at Both Locations
- Strong Real Estate Fundamentals at Both Locations- Strong Demographics
- 20 Year+ History at Both Locations in Rite Aid Regional Stronghold
Exclusively Listed By
Financing By
Listing Price: $6,850,000
Investment Highlights
- 9%+ Cash-on-Cash Return in Year One If Buyer Assumes Debt
- Recent Early Exercise of 2- 5 Year Options Providing 11+ Years of Base Term Remaining at Irwin Location
- Absolute Net Leases - Zero Landlord Responsibility
- Immediate Rent Bump in 2024 Increasing Cap Rate & Cash-on-Cash
- Strong Rent-to-Sales at Both Locations
- Minimal Competition at Both Locations
- Strong Real Estate Fundamentals at Both Locations- Strong Demographics
- 20 Year+ History at Both Locations in Rite Aid Regional Stronghold
Investment Overview
Marcus & Millichap is pleased to present for sale the fee simple purchase of two Rite Aid properties located in the Pittsburgh MSA. Both properties have had long term and proven success at their respective locations. Rite Aid has recently committed to exercise early 2-5 Year Options at the Irwin location demonstrating commitment to the site. The properties must be purchased as a portfolio. There is attractive assumable debt in place on the properties. Below market rent along with strong store sales make this offering attractive for any passive investor.
Exclusively Listed By
Financing By
