Rite Aid Portfolio

Four Properties in New York
Offering MemorandumInvestment Flyer

Rite Aid Portfolio

Free Standing Drug Store Properties

Property Details

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.

Investment Highlights

  • 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.

Contact

Ken Yanni

484.417.2223
kyanni@equityretailbrokers.com

Shane Dolan

484.482.2544
sdolan@equityretailbrokers.com

Heights Properties

NY License #37KA0902779

Ed Ginn

484.417.2201
eginn@equityretailbrokers.com

Bart Delfiner

484.417.2217
bdelfiner@equityretailbrokers.com