Northern California Rite Aid (Dark)

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Available $6,600,000 - Retail - Single Tenant
Cap Rate:  9%Size:  2.73 AcresTerm:  10 Print

 Investment Offering & Highlights

  • Triple net lease with over 10 years remaining
  • Tenant is responsible for taxes, insurance, and all maintenance including repairs/replacements to roof, structure and parking lot
  • Lease is guaranteed by Rite Aid Corporation with 2018 revenues of $21.8 billion
  • Excellent demographics with over 192,000 within a 5-mile radius and average household incomes in excess of $113,000 within 1-mile radius
  • Large lot size – 2.73 acres
  • High barriers to entry location on the eastern edge of Old Town Elk Grove historic district
  • Hard corner location on the high traffic signalized intersection of Elk Grove Blvd and Waterman Road
  • Nearby tenants include Bel Air Markets, Starbucks, Panda Express, Subway, Cold Stone Creamery, UPS, Mountain Mike’s Pizza and Jamba Juice, to name a few

Property Description

Cushman & Wakefield Net Lease Group is pleased to offer a 17,340 sq. ft. free-standing retail building with over 10 years remaining on triple net lease guaranteed by Rite Aid Corporation. Completed in 2011, the property is located on the southeast corner of the high traffic, signalized intersection of Elk Grove Boulevard and Waterman road on the eastern edge of Old Town Elk Grove historic district, one of the oldest western settlements in the greater Sacramento region. The property benefits from excellent demographics with average household incomes over $113,000 within one mile and a population over 192,000 within 5 miles.

 

Property Location