409 Stokes Rd
Medford, NJ 08055

CBRE IS PLEASED TO EXCLUSIVELY PRESENT FOR SALE THIS RITE AID PROPERTY located on Stokes Road in Medford, New Jersey. Rite Aid has been operating at this location since 1999 and recently extended its lease an additional 11 years showing commitment to and success at this location. In addition to the 10+ years remaining in the base term of the lease, Rite Aid also has four, five year options to renew with rental increases in each. This double net lease offers minimal landlord responsibilities and is corporately guaranteed by Rite Aid, rated B by Standard & Poor's. This 10,909 square foot Rite Aid sits on a large 2.17 acre parcel, which allows for numerous redevelopment opportunities in the future if necessary. Rite Aid is part of Cross Keys Centre, with additional tenants including KinderCare, Investors Bank, Great Clips and Medford Marketplace. Additional surrounding tenants include Starbucks, Verizon, Sunoco and TD Bank. This is an affluent market with the average household income over $157,000 in the 1 mile ring. There are 2,032 people within 1 mile, 26,194 people within 3 miles and 63,947 people within 5 miles. Medford is a township located in Burlington County, New Jersey. It sits just 30 minutes from the city of Philadelphia and 45 minutes from the Jersey Shore. Minimal landlord responsibilties combined with a 10 year lease and commitment to this location provides a stable investment for the astute investor.