This is a NNN leased Rite Aid (Dark) opportunity. The property is vacant however the tenant is subject to a long term lease which began in 1999 and runs
through 2026. The lease is flat in the initial term with a 15% bump in the first option, and 2.5% bumps in each subsequent option. There are four 5-year
renewal options beyond the initial term. The property is well-situated on a major retail corridor surrounded by national retailers.
Asking Price: $1,750,000
Cap Rate: 10.75%
Net Operating Income: $188,230
Square Footage: 11,336 SF
Lot Size: 1.89 Acres
Year Built: 1999
Absolute term NNN Leased Offering
100% Fee simple interest
Zero Landlord obligations
High Yield Return
Nearby retailers include: Dollar Tree, Family Dollar, Dollar General, Food Lion, Piggly Wiggly, etc.