Priced To Sell: Rite Aid | 10.5 Years Remaining | 7.75 CAP | Absolute NNN | Year End Closing Preferred

Agent Info

Brandon Hanna

248.702.0290
bhanna@encorereis.com

Ryan Vinco

248.702.0299
ryan@encorereis.com

Brent Hanna

248.702.0293
brent@encorereis.com

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Offering Information

338 E Allegheny Ave
Philadelphia, PA 19134

  • Price: $2,270,300
  • Cap. Rate: 7.75%
  • NOI: $175,950
  • Building Size: 11,180SF
  • Lot Size: .72 AC

Investment Highlights

  • Absolute Net Lease Structure | Zero Landlord Responsibilities
  • 10+ Years Remaining on Initial 20 Year Lease Term
  • Corporate Guarantee by Rite Aid Corp. | S&P Credit Rating “B”
  • Strategically Located Near Temple University Hospital and St. Chris-topher’s Hospital for Children - Both are Located 1/2 Mile from Site
  • Located on the Hard Corner Signalized Intersection
  • Ingress and Egress from Both C St & E Allegheny Ave
  • Traffic Counts Boast 18,000 + Vehicles Per Day
  • Population within a 5 Mile Radius of Subject Property Exceeds 978,708
  • Average Household Income Within 5 Miles is $60,799
  • National Tenants in the Immediate Area Include: Family Dollar, Taco Bell, KFC, Dunkin Donuts, Wells Fargo, Bank of America, Advance Auto Parts, Subway and Many More