Equity Retail Brokers is pleased to offer for sale a portfolio of Rite Aid Pharmacies located in upstate New York. All subject properties are 100% leased to Rite Aid and are operating under recently extended NN leases. The portfolio is being sold as a package, with the in-place financing.
- Price: $17,232,046
- CAP Rate: 6.50%
- Portfolio includes four Rite Aid locations between Buffalo, NY and Rochester, NY.
- Each location has approximately eight years of lease term remaining, followed by four 5-year options.
- Average rent per square foot is $23.58, which is significantly lower than comparable drug store locations.
- All locations are at signalized corners in dense markets, on roads with high traffic counts.
- Properties are cross-collateralized with an attractive loan that is well below current market interest rates | Investors will receive double digit cash-on-cash returns.
- Ideal for 1031 exchange buyers looking to leverage proceeds into multiple strong performing assets.