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Drug Store

Rite Aid - Menifee, CA (Golf Course & Lakeside Community Location)

28995 Newport Road, Menifee, CA 92584

Listing Price: $9,300,000

Cap Rate
4.57%
Tenant Name
Rite Aid
Years Remaining On Lease
15.2
Guarantor
Corporate Guarantee
Rentable SF
17,185
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$24.73

Investment Overview

Rare Drug Store Investment Opportunity with Increases Over 15 Years Remaining on Corporate Guaranteed NNN Lease with Rite Aid Below Market Rent of Only $2.06/SF & 5% Increases Every 10 Years Surrounded By Menifee Lakeside Communities and Menifee Lakes Country Club and Golf Resort Excellent Retail Location Located Directly in the Path of New Development in Menifee, CA (6th Fastest Growing City in California) Corporate Guaranteed Lease | Strong Brand Recognition | Strategic Location Above Average Store Sales (Please Contact Agent for More Details) Corporate Guaranteed NNN Lease with Minimal Landlord Responsibilities Prominent Signalized, Corner Location with Excellent Signage and Exposure on Both Newport Road and Menifee Road (±40,200 Cars Per Day) Strong Brand Recognition and Strategic Location – Rite Aid has Over 2,400 Locations Nationwide | Strong Location Near a Number of Residential Communities Provides for a Consistent Customer Base Strong Real Estate Fundamentals Multiple Points of Ingress and Egress on Both Newport Road and Menifee Road Menifee, CA is the Fastest Growing City in Southwest Riverside County and the 6th Fastest Growing City in all of California – Menifee is Poised for Strong Future Growth with a Number of Retail and Residential Developments Currently Underway Located Across from Menifee Lakes Country Club and Less Than 1 Mile from the Newport Road Entrance to the 215 Freeway - Menifee Road and Newport Road are the Main Corridors for Access to the Freeway from Neighboring Communities Excellent Demographics & Strong Surrounding Credit Tenant Presence Strong Immediate Credit Tenant Presence Provides for Consistent Daily Traffic – Nearby Credit Tenants Include Stater Bros., McDonald’s, Del Taco, Arco, Starbucks, CVS, Archibald’s, Ralph’s, Ross, Living Spaces and Many More Other Major Nearby Centers Include Menifee Countryside Marketplace (Anchored by Target, Lowe’s, Kohl’s, Michael’s and Best Buy) and Town Center Marketplace, Which Includes a ±95,000 New Construction Center, Menifee’s New Location for City Hall, a County Courthouse, and ±850 Residential Dwellings Strong Average Household Income of $89,635 Within Five Miles | Dense, Infill Area with Population Counts Exceeding 112,000 Residents Within Five Miles – Population is Expected to Grow by 10% By 2025

Investment Highlights

  • Over 15 Years Remaining on Corporate Guaranteed NNN Lease with Rite Aid
  • Below Market Rent of Only $2.06/SF & 5% Increases Every 10 Years
  • Surrounded By Menifee Lakeside Communities and Menifee Lakes Country Club and Golf Resort

Exclusively Listed By

Drug Store

Rite Aid - Menifee, CA (Golf Course & Lakeside Community Location)

Listing Price: $9,300,000

Cap Rate
4.57%
Tenant Name
Rite Aid
Years Remaining On Lease
15.2
Guarantor
Corporate Guarantee
Rentable SF
17,185
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$24.73

Investment Highlights

  • Over 15 Years Remaining on Corporate Guaranteed NNN Lease with Rite Aid
  • Below Market Rent of Only $2.06/SF & 5% Increases Every 10 Years
  • Surrounded By Menifee Lakeside Communities and Menifee Lakes Country Club and Golf Resort

Investment Overview

Rare Drug Store Investment Opportunity with Increases Over 15 Years Remaining on Corporate Guaranteed NNN Lease with Rite Aid Below Market Rent of Only $2.06/SF & 5% Increases Every 10 Years Surrounded By Menifee Lakeside Communities and Menifee Lakes Country Club and Golf Resort Excellent Retail Location Located Directly in the Path of New Development in Menifee, CA (6th Fastest Growing City in California) Corporate Guaranteed Lease | Strong Brand Recognition | Strategic Location Above Average Store Sales (Please Contact Agent for More Details) Corporate Guaranteed NNN Lease with Minimal Landlord Responsibilities Prominent Signalized, Corner Location with Excellent Signage and Exposure on Both Newport Road and Menifee Road (±40,200 Cars Per Day) Strong Brand Recognition and Strategic Location – Rite Aid has Over 2,400 Locations Nationwide | Strong Location Near a Number of Residential Communities Provides for a Consistent Customer Base Strong Real Estate Fundamentals Multiple Points of Ingress and Egress on Both Newport Road and Menifee Road Menifee, CA is the Fastest Growing City in Southwest Riverside County and the 6th Fastest Growing City in all of California – Menifee is Poised for Strong Future Growth with a Number of Retail and Residential Developments Currently Underway Located Across from Menifee Lakes Country Club and Less Than 1 Mile from the Newport Road Entrance to the 215 Freeway - Menifee Road and Newport Road are the Main Corridors for Access to the Freeway from Neighboring Communities Excellent Demographics & Strong Surrounding Credit Tenant Presence Strong Immediate Credit Tenant Presence Provides for Consistent Daily Traffic – Nearby Credit Tenants Include Stater Bros., McDonald’s, Del Taco, Arco, Starbucks, CVS, Archibald’s, Ralph’s, Ross, Living Spaces and Many More Other Major Nearby Centers Include Menifee Countryside Marketplace (Anchored by Target, Lowe’s, Kohl’s, Michael’s and Best Buy) and Town Center Marketplace, Which Includes a ±95,000 New Construction Center, Menifee’s New Location for City Hall, a County Courthouse, and ±850 Residential Dwellings Strong Average Household Income of $89,635 Within Five Miles | Dense, Infill Area with Population Counts Exceeding 112,000 Residents Within Five Miles – Population is Expected to Grow by 10% By 2025

Exclusively Listed By

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