NNN Leased Investments
Credit Enhanced Rite Aid (Ground Lease) |
Philadelphia MSA
Asking Price $5,130,434 | CAP Rate 5.75%
950 E. Baltimore Ave | Upper Darby, PA 19050 [map]
Lease Summary
Net Operating income (NOI) $295,000
Rent/Month $24,583
Rentable SF 14,500+/-
Land Area 1.56+/- acres
Tenant Realty Income Pennsylvania Properties Trust
Credit Rating S&P: BBB
Sub-Tenant Rite Aid, a subsidiary of
Rite Aid Corporation
Websites realtyincome.com
riteaid.com
Ownership
Type Unsubordinated
Ground Lease
Lease Type NNN
Landlord Responsibilities None
Store Open 2007
Lease Term 20 years
Lease Commencement March, 2007
Lease Expiration March, 2027
Increases $10,000 at each option
Options Eight (8), Five (5) year
Highlights
This is a very rare opportunity to obtain a Rite Aid
ground leased property. The tenant is Realty Income Pennsylvania Properties
Trust (wholly owned by Realty Income Corporation (NYSE:O, S&P BBB)) and the
subtenant is Rite Aid. This structure enables an investor to purchase a highly
desirable location, with a very substantial credit enhancement.
•Significantly credit enhanced ground lease
investment
•Hard corner signalized intersection
•Store opened in 2007
•32,000 ADT
•Relocation of successful inline store
•15 years left on lease
•14,500+/- SF store
Location Overview
Contact a
Broker
STAN WYRWICZ
Senior Managing Director
(617) 394-8567
You may visit our website
to view the entire inventory of available properties.
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CALKAIN
REALTY ADVISORS a division of Calkain Companies
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