Rite Aid

Seller/Broker: John  Donaldson
Capital Development Company
Ph: (360) 491-6850

114 E. Lebanon Street  • Mount Airy, NC   27030


Investment Highlights

Status: Available

Price: $2,119,350 Last Updated 8/16/2010
Cap Rate: 11.2%  
Price/sf: $194.29  
Current Annual Rent: $238,035  
Rent/sf: $21.82  
Lease Term Remaining: 10  
Existing financing? Yes  
Commission Split:  
     
Additional Info:    
New Price, Bring All Offers!

The subject property is located at the signalized intersection of N Main Street and E Lebanon Street in Mt. Airy, North Carolina. N Main Street is a major north/south thoroughfare. AADT on N Main Street on the south side of the intersection was 11,000 for 2008.

Lease & Property Information

Lease Type: NN
Lease Commencement: 1/25/2000
Lease Expiration: 1/24/2020
Rent Increases: In option period
Options: Four 5 year options
Property Type: Retail
Building Size: 10,908      
Lot Size: 1.7 acres Acres
   
Landlord Responsibilities:  
Roof and Structure

Market & Tenant Information


Market Area

The city of Mt. Airy, is located in northern North Carolina in Surry County. Surry County lies at the center of the East Coast, halfway between New York and Miami. I-77 and I-74 run through the county and I-40, I-85 and I-81 are within a one-hour drive. Ideal for distribution and logistics, the network of interstates puts businesses on a corridor that connects the entire Atlantic sea-board. Manufacturers and distributors located in Surry County can get their products to over half the US population in one day or less by truck.


Tenant Information

Rite Aid Corporation is one of the nations leading drugstore chains with more than 4,900 stores in 31 states and the District of Columbia, with a strong presence on both the East and West coasts, and 109,000 associates. Rite Aid is the largest drug-store chain on the East Coast and the third largest drugstore chain in the U.S. The company is publicly traded on the New York Stock Exchange under the ticker RAD.

Rite Aid stores fill prescriptions (two-thirds of sales) and sell health and beauty aids, convenience foods, greeting cards, and other items, including some 3,300 private label products.


Broker and Principal Contact Information


John Donaldson - 

 
Capital Development Company Phone: (360) 491-6850
Olympia  WA 


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