- 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.
Pharma Property Group is pleased to exclusively market for sale a single tenant Rite Aid property located in Rockwood, Michigan. Rite Aid has been operating at this location for 15+ years and just agreed to add an additional 5 years of term through July of 2033, which further demonstrates their commitment to the site. There are rental increases in both the primary lease term and extension options.
The store benefits from limited competition as it is the only Rite Aid, Walgreens or CVS in a 3-mile radius. Within the immediate 1.5-miles this it is the only freestanding national brand drugstore servicing over 2,000 households.
The 11,180 square foot building is located one block from Interstate 75 (61,000 VPD) which is the main thoroughfare to Detroit. It is also positioned just three miles south of 2,900,000 square foot Ford Flat Rock Assembly Plant with over 3,500 employees. Other nearby national retailers include Subway, Save-a-lot, Dollar General, and Exxon.