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Rite Aid

Harrington, Delaware

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About the Investment:

✓ Located One Mile North of Harrington Raceway & Casino | 140,000 SF Gaming Space with 1,800 Slot Machines and 70 Days of Live Racing Annually
✓ Longstanding Tenancy | Property Has Been A Rite Aid for Sixteen Years
✓ High Visibility & Ease of Access off S Dupont Hwy & Strong Traffic Counts |Approximately 28,000 and 12,000 Vehicles Per Day Along S Dupont Hwy and Milford Harrington Hwy, Respectively
✓ Five (5) Option Periods of Five (5) Years Each | Potential for Total Lease Term of Nearly 30 Years
✓ Ten (10%) Percent Rental Increases Every Five (5) Years Throughout Option Periods
✓ Positioned in Dense Retail Corridor | Family Dollar, Dollar General, Food Lion, Royal Farms, McDonald’s, Ace Hardware, Subway, Taco Bell and Many More
✓ Numerous Hospitality Accommodations Located Within a One-Mile Radius | Holiday Inn, Quality Inn, Super 8 By Wyndham
✓ Compelling Location Fundamentals | Located Within a 14-Mile Radius of Dover, DE |Capital and 2nd Largest City in Delaware

About the Tenant/Brand:

✓ Rite Aid Corporation is One of the Nations Leading Drugstore Chains with More than 2,450 Stores in 18 States and the District of Columbia And has Over 51,000 Associates
✓ Rite Aid is the Largest Drugstore Chain on the East Coast and the Third Largest in the U. S
✓ Rite Aid is a Fortune 500 Company and Reported Store Sales of $21.9 Billion in Fiscal Year 2020
✓ Rite Aid The Company is Publicly Traded in the New York Stock Exchange Under the Ticker RAD

Key Details

Price:
$5,112,000
Cap Rate:
8.00%
Annual Rent:
$408,995
Address:
17072 S Dupont Hwy, Harrington, Delaware 19952
Property Type:
Net-Leased Pharmacy
Lease Type:
Double Net (NN)

Lease Commencement:
April 20, 2005
Lease Expiration:
March 31, 2025
Lease Term Remaining:
+/- 4 Years
Rental Increases:
10% Every 5 Years
Lot Size:
+/- 1.92 Acres
Building Size:
14,564 SF
Year Built:
2005
Tenant:
Rite Aid

Broker of record

Donald R. MacLauren Jr.

License: RB-0002461


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