NNN Leased Investment
NNN Leased Investment Rite Aid For Sale
NNN Rite Aid West Norriton, PA
Asking Price $5,767,304 | CAP Rate 5.75%
LEASE SUMMARY
NOI $331,620
Rent/Month $27,635
Land Area 1.42
acres
Sub-Tenant Rite
Aid, a subsidiary of
Websites realtyincome.com,
Ownership Type Unsubordinated
Ground Lease
Lease Type NNN
Landlord Responsibilities None
Store Open 2008
Lease Term 20
years
Lease Commencement 2008
Lease Expiration 2028
Increases 8%
in Year 11 and 10%
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.
Fully Signalized Hard Corner Intersection Location
Traffic Count over 25,000
8% Rent Increase in 2018
Store Opened in 2008
14,500sf Store
16+ years left on the lease
Eight (8), Five (5) year options to renew with 10%
bumps each
For More information Contact:
Stan Wyrwicz
Senior Managing Director
(617) 394-8567
You may
visit our website
