Start a SearchRite Aid Pharmacy 6.75% CAP | 13,813 SF | WELLSBORO, PA | Absolute Net (NNN)

Rite Aid Pharmacy 6.75% CAP | 13,813 SF | WELLSBORO, PA | Absolute Net (NNN)

24 East Avenue, Wellsboro, PA 16901

Last Updated: 07/04/2017
Property Type:Retail
Year Built:2003
Class:B
Size:13,813 SF
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24 East Avenue, Wellsboro, PA 16901

Building Overview

Building Description

Marcus & Millichap is pleased to present for sale this Net-Leased Rite Aid located at 24 East Avenue, Wellsboro, Pennsylvania in Tioga County, just a two hours drive North of Harrisburg, PA and a two hours drive South of Buffalo, NY. The subject property consists of 13,813 square feet that is situated on a large 1.46 acre parcel of land with two, 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 East Avenue and Grant Street with a traffic count over 11,000 vehicles per day and day time population with an average household income exceeding $58,000, annually. There is no direct Walgreen’s competition in the area; the closest Walgreen’s is 42 miles away in Corning, PA. There are 6.5 years remaining on an original 20-year, Absolute-Net Lease (NNN) where the landlord has no responsibilities to the property. The offering provides a flat initial term with two percent increases in each of the two five-year option periods. The property is situated at a signalized intersection and has excellent ingress and egress through three different access points. This Rite Aid is within a mile of the University of Pittsburgh Medical Center And Susquehanna Soldiers plus Sailors Hospital. Investment Highlights - Corporately Guaranteed By Rite Aid (NYSE: RAD) - S&P B Credit Rating - Over 6.5 Years Remaining On The Initial Term - Rite Aid Wellness Clinic Within The Store - Signalized Intersection - Over 11,000 Vehicles Per Day

Building Details

Property Type:Retail
Year Built:2003
Class:B
Size:13,813 SF
Subtype:Freestanding
Build Status:Existing
Tenancy:Single Tenant
Lot Size:1.5 Acres

Location

24 East Avenue, Wellsboro, PA 16901

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