Rite Aid

Tenant

Rite Aid

Location

Charleroi, PA

Price

$1,250,000

CAP Rate

6.78%

NOI

$84,700

Lease Term

2.7 Years Remaining

Occupancy

100%

Building Size

13,000 Sq. Ft.

Property Type

Single Tenant

Year Built

1999

Lot Size

1.20 acres

Status

Under Contract

Property Contacts:

Karly Iacono

Vice President

(201) 742-6119 | Email

JC Corr

Associate

(201) 742-6181 | Email

  • NNN Lease
  • Corporate Guarantee
  • Below Market Rent
  • Rite Aid has already Exercised 2 of 6 Available Options
  • Located on a Hard Corner and Signalized Intersection
  • 10% Rent Increases in each Option

Marcus and Millichap is pleased to present a Rite Aid in Charleroi, PA. The property is subject to a NNN corporately guaranteed lease. There are 2.7 years remaining on the base term and four 5 year option periods available. Rite Aid has already exercised two of their six available option periods demonstrating a strong commitment to the location. The lease calls for rental increases of 10% in each option period.

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 in the Downtown area of Charleroi. National tenants nearby include McDonald’s, Subway, Citizens Bank, Dollar General and more. In addition, there are many local retailers. Rite Aid is ideally positioned near three bus stops. There are over 48,000 people residing within 5 miles.