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Drug Store

Rite Aid - Sturgis

102 N Centerville St, Sturgis, MI 49091

Listing Price: $2,100,000

Cap Rate
7.41%
Tenant Name
Rite Aid
Years Remaining On Lease
5.4
Gross SF
10,167
Guarantor
Corporate Guarantee
Rentable SF
10,167
Price/Gross SF
$206.55
Lease Type
Double Net
Rent Per Square Feet
$15.32

Investment Overview

We are pleased to offer for sale the fee simple interest in a freestanding, single-tenant pharmacy containing Rite Aid Corporation (the “Property” or “Asset”) located in Sturgis, Michigan. Rite Aid is a leader in the pharmaceuticals industry, and is leasing the space for over 5 remaining years on a double net lease. The Property is positioned just west of downtown Sturgis. This offering presents the opportunity to acquire a stabilized, essential asset with a completely passive ownership structure for over 5 years and outstanding security in the value of the underlying real estate. Rite Aid has occupied this premises since 1996 demonstrating their long term commitment to the community.

Investment Highlights

  • Strong store sales with low rent to sales ratio of 3.9%
  • 5.5 Years Remaining
  • Well located on a major road
  • Long term tenant has been in the building since 1996
  • Low price point, well below replacement cost
  • Essential Business
  • Rebranded with new logo and color scheme

Exclusively Listed By

  • Peter Bauman

    Senior Vice President Investments

    (602) 687-6685

    Email Peter

    License(s): AZ: SA647389000, NV: S.0186153

    Phoenix

  • Tivon Moffitt

    Senior Vice President Investments

    (602) 687-6688

    Email Tivon

    License(s): AZ: BR639369000, NV: S.0186027, UT: 11178542-AB00

    Phoenix

  • Cesar A. Talavera

    Vice President Investments

    (702) 215-7132

    Email Cesar

    License(s): NV: BS.0045231

    Las Vegas

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    License(s): MI: 6502387903

    Michigan

Listing Price: $2,100,000

Cap Rate
7.41%
Tenant Name
Rite Aid
Years Remaining On Lease
5.4
Gross SF
10,167
Guarantor
Corporate Guarantee
Rentable SF
10,167
Price/Gross SF
$206.55
Lease Type
Double Net
Rent Per Square Feet
$15.32

Investment Highlights

  • Strong store sales with low rent to sales ratio of 3.9%
  • 5.5 Years Remaining
  • Well located on a major road
  • Long term tenant has been in the building since 1996
  • Low price point, well below replacement cost
  • Essential Business
  • Rebranded with new logo and color scheme

Investment Overview

We are pleased to offer for sale the fee simple interest in a freestanding, single-tenant pharmacy containing Rite Aid Corporation (the “Property” or “Asset”) located in Sturgis, Michigan. Rite Aid is a leader in the pharmaceuticals industry, and is leasing the space for over 5 remaining years on a double net lease. The Property is positioned just west of downtown Sturgis. This offering presents the opportunity to acquire a stabilized, essential asset with a completely passive ownership structure for over 5 years and outstanding security in the value of the underlying real estate. Rite Aid has occupied this premises since 1996 demonstrating their long term commitment to the community.

Exclusively Listed By

  • Peter Bauman

    Senior Vice President Investments

    (602) 687-6685

    Email Peter

    License(s): AZ: SA647389000, NV: S.0186153

    Phoenix

  • Tivon Moffitt

    Senior Vice President Investments

    (602) 687-6688

    Email Tivon

    License(s): AZ: BR639369000, NV: S.0186027, UT: 11178542-AB00

    Phoenix

  • Cesar A. Talavera

    Vice President Investments

    (702) 215-7132

    Email Cesar

    License(s): NV: BS.0045231

    Las Vegas

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    License(s): MI: 6502387903

    Michigan

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