Drug Store
Rite Aid - Erie
1609 Liberty St, Erie, PA 16502
Listing Price: $2,450,000
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
Listing Price: $2,450,000
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
