Rite Aid

Tenant

Rite Aid

Location

Conway , PA

Price

$2,750,000

CAP Rate

10.11%

NOI

$278,142

Lease Term

3.8 Years Remaining

Occupancy

100%

Building Size

10,908 Sq. Ft.

Property Type

Single Tenant

Year Built

1999

Lot Size

1.11 acres

Status

Available

Property Contacts:

Karly Iacono

Vice President

(201) 742-6119 | Email

JC Corr

Associate

(201) 742-6181 | Email

  • NNN Lease
  • Corporate Guarantee
  • High Traffic Location | 24,578 VPD
  • Recent Lease Extension through 2023
  • Excellent Demographics | Over 74k People in 5 Miles
  • Long Term Historical Occupancy | Rite Aid has Operated at this Location since 1999

Marcus and Millichap is pleased to exclusively present a Rite Aid in Conway, PA. The property is subject to a NNN corporately guaranteed lease. There are 3.8 years remaining on the base term. Rite Aid recently extended their lease through 2023. Rite Aid has been operating at this location since 1999.

Rite Aid operates a chain of 2,500 retail drugstores across 19 US states. The company operates through two segments, Retail Pharmacy and Pharmacy Services. Retail Pharmacy and Pharmacy Services. The Retail Pharmacy segment sells prescription drugs and an assortment of other merchandise, including over-the-counter medications, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise and other every day and convenience products. It also operates retail clinics that provide treatment for common conditions; and provides preventative services, such as screenings, medical tests, immunizations and basic physical exams. Rite Aid is currently ranked number 107 on the Fortune 500 list.

The subject property is located on a heavily trafficked road with more than 24k vehicles per day. There are many national and local tenants nearby. National tenants nearby include Walmart, Taco Bell, Burger King, Dollar Tree, and more. Additionally, the property is located near the Norfolk Southern Conway Railyard. Norfolk Southern is one of the nation’s premier transportation companies. They operate approximately 19,500 route miles in 22 states and the District of Columbia, serve every major container port in the eastern United States, and provides efficient connections to other rail carriers. Conway is a suburb of Pittsburgh and has more than 74k people residing in 5 miles.