Rite Aid |
Seller/Broker: John Donaldson |
114 E. Lebanon Street • Mount Airy, NC 27030 |
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Investment Highlights |
Status: Available |
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| 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. |
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Lease & Property Information |
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| 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 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.
John Donaldson - |
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| Capital Development Company | Phone: (360) 491-6850 |
| Olympia WA |