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Drug Store

Rite Aid

7225 Airport Hwy, Holland, OH 43528

Listing Price: $7,495,760

Cap Rate
6.93%
Tenant Name
Rite Aid
Years Remaining On Lease
6.4
Gross SF
14,564
Guarantor
Corporate Guarantee
Rentable SF
14,564
Price/Gross SF
$514.68
Lease Type
Absolute Net
Rent Per Square Feet
$35.72

Investment Overview

Marcus & Millichap is pleased to present for purchase the fee simple interest in a Rite Aid located at 7225 Airport Highway in Holland, Ohio. Rite Aid has 6.75 years remaining on the absolute net lease. The lease features no landlord responsibilities as well as six, five-year options to renew with 10 percent increases in options one and three. Rite Aid in Holland, Ohio is located near numerous national retailers such as Advance Auto Parts, Tim Hortons, Taco Bell, Menards, Starbucks, Pizza Hut, Target, Walmart Supercenter, Best Buy, and more. Springfield Middle and High School are both located less than five minutes from the property. The area has strong demographics of over 112,141 residents within five-mile radius and an average household income of $86,173 within a one-mile radius. The subject property has excellent traffic counts of over 48,600 vehicles per day on Airport Highway and over 63,860 vehicle per day on Holloway Road. Holland, Ohio is a village in Lucas County, Ohio and a suburb of Toledo. Toledo is the fourth-most-populous city in the Ohio. Not only do several Fortune 500 automotive-relative companies have their headquarters in Toledo, but the city is known as the Glass City for its long history of glass manufacturing. Holland, Ohio is home to the J.H. Fentress Antique Popcorn Museum which houses one of the largest and most diverse collections of popcorn-related memorabilia in existence and attracts Ohio residents of all ages. Rite Aid Corporation is one of the nation’s leading drugstore chains with more than more than 2,500 stores in 19 states and the District of Columbia, with a strong presence on both the East and West coasts. Rite Aid is the largest drugstore chain on the East Coast and the third largest drugstore chain in the U.S. The company sells prescription drugs and a range of other merchandise, including over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise, and other every day and convenience products. It also offers health coaching, shared decision making tools, and health care analytics, including health coaching for medical decisions, chronic conditions, wellness, population analytic solutions, and consulting services.

Investment Highlights

  • 6.75 Years Remaining on an Absolute Net Lease
  • Six, Five-Year Options to Renew
  • Assumable Non-Recourse Debt
  • 10 Percent Increases in Option One and Option Three
  • No Landlord Responsibilities
  • Located at Signalized intersection on Hard Corner
  • Excellent Combined Traffic Counts of Over 112,460 Vehicles per Day On Airport Highway and Holloway Road
  • Population of Over 112,141 Within a Five-Mile Radius

Exclusively Listed By

Financing By

Listing Price: $7,495,760

Cap Rate
6.93%
Tenant Name
Rite Aid
Years Remaining On Lease
6.4
Gross SF
14,564
Guarantor
Corporate Guarantee
Rentable SF
14,564
Price/Gross SF
$514.68
Lease Type
Absolute Net
Rent Per Square Feet
$35.72

Investment Highlights

  • 6.75 Years Remaining on an Absolute Net Lease
  • Six, Five-Year Options to Renew
  • Assumable Non-Recourse Debt
  • 10 Percent Increases in Option One and Option Three
  • No Landlord Responsibilities
  • Located at Signalized intersection on Hard Corner
  • Excellent Combined Traffic Counts of Over 112,460 Vehicles per Day On Airport Highway and Holloway Road
  • Population of Over 112,141 Within a Five-Mile Radius

Investment Overview

Marcus & Millichap is pleased to present for purchase the fee simple interest in a Rite Aid located at 7225 Airport Highway in Holland, Ohio. Rite Aid has 6.75 years remaining on the absolute net lease. The lease features no landlord responsibilities as well as six, five-year options to renew with 10 percent increases in options one and three. Rite Aid in Holland, Ohio is located near numerous national retailers such as Advance Auto Parts, Tim Hortons, Taco Bell, Menards, Starbucks, Pizza Hut, Target, Walmart Supercenter, Best Buy, and more. Springfield Middle and High School are both located less than five minutes from the property. The area has strong demographics of over 112,141 residents within five-mile radius and an average household income of $86,173 within a one-mile radius. The subject property has excellent traffic counts of over 48,600 vehicles per day on Airport Highway and over 63,860 vehicle per day on Holloway Road. Holland, Ohio is a village in Lucas County, Ohio and a suburb of Toledo. Toledo is the fourth-most-populous city in the Ohio. Not only do several Fortune 500 automotive-relative companies have their headquarters in Toledo, but the city is known as the Glass City for its long history of glass manufacturing. Holland, Ohio is home to the J.H. Fentress Antique Popcorn Museum which houses one of the largest and most diverse collections of popcorn-related memorabilia in existence and attracts Ohio residents of all ages. Rite Aid Corporation is one of the nation’s leading drugstore chains with more than more than 2,500 stores in 19 states and the District of Columbia, with a strong presence on both the East and West coasts. Rite Aid is the largest drugstore chain on the East Coast and the third largest drugstore chain in the U.S. The company sells prescription drugs and a range of other merchandise, including over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise, and other every day and convenience products. It also offers health coaching, shared decision making tools, and health care analytics, including health coaching for medical decisions, chronic conditions, wellness, population analytic solutions, and consulting services.

Exclusively Listed By

Financing By

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