- Rite Aid is currently paying $9.45 /sf in rental rate, which aligns with the local retail rent of $9.50/sf.
- The subject property supports a rent-to-sales ratio of 1.35%.
- Rite Aid restructured its lease, effective November 1, 2023, to remain open and operational throughout the Chapter 11 proceedings.
- Rite Aid has two 5-year options to extend their lease, each with 10% rental increases.
- Rite Aid has operated successfully at this location since 1988, marking over 36 years of continuous operation.
Rite Aid For Sale properties
Rite Aid
Hanford, CA
$ 4,173,228
6.35 CAP
- Rite Aid added 10 years additional firm lease term in 2022.
- Absolute net lease with 18+ year operating history.
- 12 years remaining with 10% rental increases in first, third and fifth options.
- Located on one of the main intersections in Hanford with over 39,000 vehicles per day.
- Strategically located across the street from CVS.
- One mile west of 142-bed Adventists Health Hanford Hospital with over 4,000 employees.
- Across from Hanford Towne Center (222,000 SF) with Smart & Final, Staples and 99 Cents Only.
Rite Aid
Saint Marys, OH
$ 2,941,312
8.00 CAP
- Rite Aid recently executed a 5-year lease extension taking the lease out to 7+ years with rental increases in the primary term and extension options, including a 9.3% increase at the first extension option.
- Only national brand drugstore within 8-mile radius and only Rite Aid location in a 16-mile radius.
- Across from ±348,000 square feet of retail space, adjacent to Grande Lake Healthcare Center with 45 beds and 3 miles from Grand Lake JTD Memorial Hospital with 140 beds.
Rite Aid
Rockwood, MI
$ 4,967,012
8.00 CAP
- Rite Aid recently executed a 5-year lease extension taking the lease out to 10 years with rental increases in the primary term and the options with minimal landlord responsibilities.
- Only national brand drugstore within 3-mile radius and Placer ranks it the busiest Rite Aid of 6 locations in a 15-mile radius.
- 15 years of operating history with strong customer base including the 3,500 employees of the Ford Flat Rock Assembly Plant located just 3 miles south.
Rite Aid
Hayes, VA
$ 3,764,177
7.65 CAP
- Rite Aid recently executed a 10-year lease extension with increases in the primary term and extension options, including a 11.7%increase at the first extension option.
- This is an absolute net lease with no landlord responsibilities whatsoever and 20 years of operating history with strong customer base.
- Across from Walgreens making this a strategic location and directly on George Washington Memorial Highway, the only thoroughfare connecting to Norfolk-Virginia Beach-Newport News MSA, one of the strongest military bases in the country.
Rite Aid
Burton, MI
$ 3,066,900
8.00 CAP
- Rite Aid recently executed a 10-year lease extension with rental increases in the primary term and extension options, including a 13.3% increase at the first extension option.
- 25 years of operations with strong customer base. No other standalone national retail pharmacies within a 3-mile radius.
- Solid employment base within a 7-mile radius including General Motors, University of Michigan, Hurley Medical Center and Mott Community College.
Rite Aid
Manchester, NH
$ 8,575,000
7.75 CAP
- Absolute net lease with 10% increases every 10 years in the options, located 3.5 mi NW of Downtown Manchester and is the 2nd busiest Rite Aid in a 15-mi radius.
- One block from Shaw's Plaza anchored by Big Lots, Dollar Tree and Planet Fitness. Major employers in the area include Catholic Medical Center and Saint Anselm College.
- Area demos include 133,768 residents with a median HH income of $67,149 within a 5-mi radius.
- One of the best performing Rite Aid stores in the Midwest.
- Rite Aid added 10 years to the initial lease term in June of 2015 with six (5 year) options and increases.
- Roof was replaced in 2015 with a 20-year transferable warranty. Building exterior was also renovated.
