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Freestanding For Sale • 12,400 SF
We are pleased to offer to qualified investors an opportunity to purchase two single tenant absolute NNN leased investments fully occupied by Rite Aid with approximately 6.5 years fixed remaining on the base term for each location. Offered as a portfolio, this is an excellent opportunity to purchase two single tenant drug stores on absolute NNN leases, that provides a 10.05% cash-on-cash return year 1 and zero landlord obligations.
| Proven Portfolio of Absolute NNN Corporate Leases by Rite Aid, Inc. (NYSE: RAD) - 7+ Yrs. plus Options |
| Geographically Diversified Portfolio - RARE Northeast/Pacific Northwest NNN Assets - Strong Sales |
| Double Digit Year 1 Leveraged Cash on Cash Return of 10.21% - Attractive in-place Loan (Market Terms) |
| Fee Simple & Leasehold Combination Ownership - Depreciable Assets - Zero LL Duties - 10% Rent Bumps |
| Excellent Signalized Hard Corner Locations - Large Parcel Size (2.16 acres/1.67 acres) - Hyper Dense Sites |
| Cap Rate: | 7.81 % |
| Tenant | SF Occupied | Lease End Date |
|---|---|---|
| Rite Aid | 14,654 SF |
| Commuter Rail | Drive | Walk | Distance |
|---|---|---|---|
| Atco (Atlantic City Line - NJ Transit Commuter Rail (NJ Transit)) | 3 min | - | 1.6 mi |
| Lindenwold (Njt) (Atlantic City Line - NJ Transit Commuter Rail (NJ Transit)) | 10 min | - | 7.7 mi |
| Airport | Drive | Walk | Distance |
| Philadelphia International | 40 min | - | 26.4 mi |
| Atlantic City International | 59 min | - | 31.5 mi |
| Parking Available: | Yes |
| Reserved: | No |
| Spaces Provided: | 54 |
| Type: | Surface |
| Included in Rent: | Yes |
Eric Carlton
Colliers
Eric Carlton
Colliers
