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Drug Store

Rite Aid - Erie

1609 Liberty St, Erie, PA 16502

Listing Price: $2,450,000

Cap Rate
6.65%
Tenant Name
Rite Aid
Years Remaining On Lease
10.4
Gross SF
11,325
Guarantor
Corporate Guarantee
Rentable SF
11,325
Price/Gross SF
$216.34
Lease Type
Double Net
Rent Per Square Feet
$14.38

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 Erie, Pennsylvania. Rite Aid is a leader in the pharmaceuticals industry, and is leasing the space for over 10.5 remaining years on a double net lease. The Property is positioned just west of downtown Erie. This offering presents the opportunity to acquire a stabilized, essential asset with a completely passive ownership structure for over 10.5 years and outstanding security in the value of the underlying real estate.

Investment Highlights

  • Strong store sales with low rent to sales ratio of 3.3%
  • Over 10.5 years of lease term remaining
  • Well located on a major road
  • Long term tenant has been in building since 1996
  • Low price point, well below replacement cost
  • Essential Business

Broker of Record

  • Sean Beuche

    Regional Manager

    (215) 531-7000

    License(s) PA: RM424190

    Pennsylvania

Drug Store

Rite Aid - Erie

Listing Price: $2,450,000

Cap Rate
6.65%
Tenant Name
Rite Aid
Years Remaining On Lease
10.4
Gross SF
11,325
Guarantor
Corporate Guarantee
Rentable SF
11,325
Price/Gross SF
$216.34
Lease Type
Double Net
Rent Per Square Feet
$14.38

Investment Highlights

  • Strong store sales with low rent to sales ratio of 3.3%
  • Over 10.5 years of lease term remaining
  • Well located on a major road
  • Long term tenant has been in building since 1996
  • Low price point, well below replacement cost
  • Essential Business

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 Erie, Pennsylvania. Rite Aid is a leader in the pharmaceuticals industry, and is leasing the space for over 10.5 remaining years on a double net lease. The Property is positioned just west of downtown Erie. This offering presents the opportunity to acquire a stabilized, essential asset with a completely passive ownership structure for over 10.5 years and outstanding security in the value of the underlying real estate.

Broker of Record

  • Sean Beuche

    Regional Manager

    (215) 531-7000

    License(s): PA: RM424190

    Pennsylvania

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