4090 S Amherst Hwy
Madison Heights, VA 24572

Rite Aid (Goodwill Sublease) | 8-Year Corp Abs NNN SRS National Net Lease Group is pleased to present the opportunity to acquire a corporate guaranteed, absolute NNN leased, Rite Aid (Goodwill sublease) investment property located in Madison Heights, Virginia. The tenant, Rite Aid, has approximately 7.5 years remaining in the 20 year initial term, with 4 (5-year) option periods. The option periods feature a 2% rent increase in each. The lease is absolute net lease with zero landlord responsibilities. It is guaranteed by Rite Aid Corporate and is currently subleased to Goodwill. The subject site is located at the signalized, hard corner intersection of Elon Road and Amherst Highway (43,500 combined vehicles per day) with excellent visibility and access from both bordering streets. A grocery anchored shopping center and a Sheetz gas station and convenience store are also located at this signalized, hard corner intersection. Amherst Highway is the area' s major north-south thoroughfare and retail corridor. There are several national/credit tenants in the area such as Food Lion, Dollar General, Walmart, AutoZone, Dollar Tree, Advance Auto Parts, and more. The subject site is part of the Lynchburg MSA, which is the fifth largest MSA in Virginia. The 5-mile trade area is supported by a population of 38,600 with an average household income of $53,400.