Rite Aid

693 McCartney Road Youngstown, OH 44405

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FOR SALE Incentives
Property Type:
Power Center
Amount:
$1,900,000
Last Verified:
May 01, 2017

Highlights

  • Triple-net Lease (NNN) with Zero Landlord Responsibilities
  • Lease Guaranteed by Rite Aid Corporation (NYSE: RAD) Providing Strong Investment
  • Modern High-visibility Building Located on Main Traffic Corridor Across From Neighborhood Shopping Center
  • Lease Term Remaining: 4 years Plus Four 5-year options
  • Recent 5-year Lease Renewal Demonstrating Tenant's Commitment To This Location

Description

This property is leased to Rite Aid Drugs and is well located on a main traffic corridor within the city of Campbell, Ohio adjacent to the city of Youngstown, Ohio. Built in 1996, this is a modern high-visibility facility that has been at this location for 22 years and can capture the market for many years to come with its current operator or when a new operation takes over.

With a very competitive rent and a lease term of 4-years plus four 5-year options remaining, this location remains a very appealing site to any future user. Sales are reported to be very strong. The property is located along main business corridor, Interstate Highway 433 and is directly across from Lincoln Knowls Plaza shopping center. Tenants in the immediate area include Dollar General, Citi Trends discount street-ware, Save-a-Lot discount grocers, McDonald’s restaurant and Burger King. The population within a 3-mile radius is 37,723 and the average household income is more than $37,487.

This property is leased to Rite Aid Drugs and is well located on a main traffic corridor within the city of Campbell, Ohio adjacent to the city of Youngstown, Ohio. Built in 1996, this is a modern high-visibility facility that has been at this location for 22 years and can capture the market for many years to come with its current operator or when a new operation takes over.


Year Built: 1996
Building Size: 10376.0sq ft
Lot Size: 1.09 acres

Map of 693 McCartney Road, Youngstown, OH, 44405

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.