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Drug Store

Rite Aid | 13+ Years Remain | Pittsburgh, PA MSA | Top 6% Store Statewide

4111 William Penn Hwy, Monroeville, PA 15146

Listing Price: $7,420,000

Cap Rate
6.00%
Tenant Name
Rite Aid
Years Remaining On Lease
13.5
Guarantor
Corporate Guarantee
Rentable SF
12,738
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$34.96

Investment Overview

The Tenant, Rite Aid Corporation, has more than 13 years remaining on an absolute NNN lease. This store originally opened as an Eckerd in 1999 which was later acquired by Rite Aid. The location has had two previous “blend and extends” completed on it; a testament to the location’s strong sales performance. The lease features a three percent rental increase in the base term and increases of six percent in the first option period and 10 percent in the third and fifth option periods.

Investment Highlights

  • 13+ Year Term NNN Lease with Increase in Base Term
  • Strong Store Sales Reporting Available
  • Long-Standing Store with Two Previous Extensions Completed

Exclusively Listed By

  • Brad Nathanson

    Senior Managing Director Investments

    Email Brad

    License(s): PA: RS278775, NJ: 0674866

    Philadelphia

Broker of Record

  • Sean Beuche

    Regional Manager

    (215) 531-7000

    License(s) PA: RM424190

    Pennsylvania

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Drug Store

Rite Aid | 13+ Years Remain | Pittsburgh, PA MSA | Top 6% Store Statewide

Listing Price: $7,420,000

Cap Rate
6.00%
Tenant Name
Rite Aid
Years Remaining On Lease
13.5
Guarantor
Corporate Guarantee
Rentable SF
12,738
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$34.96

Investment Highlights

  • 13+ Year Term NNN Lease with Increase in Base Term
  • Strong Store Sales Reporting Available
  • Long-Standing Store with Two Previous Extensions Completed

Investment Overview

The Tenant, Rite Aid Corporation, has more than 13 years remaining on an absolute NNN lease. This store originally opened as an Eckerd in 1999 which was later acquired by Rite Aid. The location has had two previous “blend and extends” completed on it; a testament to the location’s strong sales performance. The lease features a three percent rental increase in the base term and increases of six percent in the first option period and 10 percent in the third and fifth option periods.

Exclusively Listed By

  • Brad Nathanson

    Senior Managing Director Investments

    Email Brad

    License(s): PA: RS278775, NJ: 0674866

    Philadelphia

Broker of Record

  • Sean Beuche

    Regional Manager

    (215) 531-7000

    License(s): PA: RM424190

    Pennsylvania

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

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