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Rite Aid NNN in Ellwood City, PA

117 5th St, Ellwood City, PA 16117, USA
$6,813,323

Description

Marcus & Millichap is pleased to present for sale, this Net Leased Rite Aid located at 117 Fifth Street, Ellwood City, Pennsylvania in Beaver County. The subject property consists of 13,824 square feet that is situated on a 1.25 acre parcel of land with a full service pharmacy drive-thru window and a Rite Aid Wellness Clinic within the store. This Rite Aid benefits from the strategic location at the signalized intersection of Spring Avenue and Fifth Street with over 11,000 vehicles per day and immediately off Highway 65 and PA – 288 with over 60,000 vehicles per day. There are over 23,000 full time residents with an average household income exceeding $57,000, annually. There is no direct Walgreen’s competition in the area; the closest Walgreen’s is 10.5 miles away in Zelienople, PA. There are 7.9 years remaining on the original 20-year, Absolute-Net Lease (NNN) where the landlord has no responsibilities to the property. The offering provides a flat initial term with a one and a half percent increase in each of the two five-year option periods. This property caters to a strong downtown Elwood City residential area and is located close to the Elwood City Hospital. The immediate national retailers in the area include; 7 Eleven, McDonald’s and CVS to name a few. Rite Aid ranks third (behind Walgreen’s and CVS) in the US retail drugstore business, with more than 4,600 drugstores in more than 30 states and the District of Columbia. Rite Aid stores generate roughly 70 percent of their sales from filling prescriptions, while the rest comes from selling health and beauty aids, convenience foods, greeting cards, and more, including some 3,500 Rite Aid brand private-label products. More than 60 percent of all Rite Aid stores are freestanding and over half have drive-thru pharmacies. The company was founded in 1962 and is in negotiations of being purchased by pharmacy leader Walgreen’s Boots Alliance.

■ CORPORATELY GUARANTEED BY RITE AID (NYSE: RAD)
■ S&P B CREDIT RATING
■ OVER 7.5 YEARS REMAINING ON THE INITIAL TERM
■ SIGNALIZED INTERSECTION WITH OVER 11,000 VEHICLES PER DAY
■ CLOSEST WALGREENS IS 10.5 MILES AWAY
■ RITE AID WELLNESS CLINIC WITHIN THE STORE

  • Address: 117 5th St
  • City: Ellwood
  • State/county: Pennsylvania
  • Zip/Postal Code: 16117
  • Country: United States

Detail

  • Price: $6,813,323
  • Year Built: 2005

Additional details

  • CAP Rate: 6.50%
  • NOI: $442,866

Features