Rite Aid | 111-113 W Main St
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Rite Aid 111-113 W Main St
13,059 SF 100% Leased Retail Building West Newton, PA 15089 $2,783,250 ($213/SF) 6% Cap Rate
Investment Highlights
- Absolute NNN Lease with Zero Landlord Responsibilities
- Lease Supports Rent Increases of 5% in Years 6 and 11, and in Each Option
- Positioned at a Stand-Alone Corner Location of W Main Street and Collinsburg Road
- New 15-Year Lease Term with Nine, 5-Year Options
- Successful 36+ Years Operating History
Executive Summary
Absolute NNN Lease with Zero Landlord Responsibilities
New 15-Year Lease Term with Nine, 5-Year Options
Lease Supports Rent Increases of 5% in Years 6 and 11, and in Each Option
Successful 36+ Years Operating History
NYSE: RAD | Third Largest Drugstore Chain in the U.S. with Over2,245 Locations
Positioned at a Stand-Alone Corner Location of W Main Street and Collinsburg Road
Easily Accessible with Multiple Points of Access Along W Main Street
New 15-Year Lease Term with Nine, 5-Year Options
Lease Supports Rent Increases of 5% in Years 6 and 11, and in Each Option
Successful 36+ Years Operating History
NYSE: RAD | Third Largest Drugstore Chain in the U.S. with Over2,245 Locations
Positioned at a Stand-Alone Corner Location of W Main Street and Collinsburg Road
Easily Accessible with Multiple Points of Access Along W Main Street
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
13,059 SF
Building Class
B
Year Built
1970
Price
$2,783,250
Price Per SF
$213
Cap Rate
6%
NOI
$166,995
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.24
Lot Size
1.26 AC
Zoning
C
Parking
60 Spaces (4.59 Spaces per 1,000 SF Leased)
Frontage
164 FT on W Main St
Nearby Major Retailers
Contacts
-
Deno Bistolarides -
Brandon Hanna -
Ryan Vinco -
Encore Real Estate Investment Services
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Rite Aid | 111-113 W Main St
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