Rite Aid

Highlights

• NNN RITE AID (DARK) | 7.8 YEARS REMAINING
• MINIMAL LANDLORD RESPONSIBILITIES | LOW-RISK INVESTMENT
• RITE AID (NYSE: RAD) CORPORATE GUARANTEE | 2,400+ LOCATIONS
• ATTRACTIVE ASSUMABLE LOAN | 3.93% INTEREST | NEAR 15% CASH-ON-CASH RETURN
• MULTIPLE POINTS OF INGRESS/EGRESS ACCESS TO SITE
• DEVELOPMENT OPPORTUNITY | 2.2 ACRES EXCESS LAND
• EXCESS DEVELOPMENT LAND ZONED RESIDENTIAL (R-20)
• COMBINED VPD AT INTERSECTIONS IS OVER 16,000 VPD
• STRONG AND GROWING DEMOS | 221k PEOPLE IN 5-MILE RADIUS
• ABOVE AVERAGE INCOME | $82K IN 5-MILE RADIUS
• RETAILERS IN IMMEDIATE VICINITY INCLUDE: HOME DEPOT, TJ MAXX, TARGET, BJ’S WHOLESALE, BEST BUY, CHICK-FIL-A, DUNKIN’, MCDONALD’S, DOLLAR TREE, FIVE BELOW AND MANY MORE.
• 8-MINUTE DRIVE TO YALE UNIVERSITY | PREMIER IVY LEAGUE
• LESS THAN 10 MILES TO DOWNTOWN NEW HAVEN
• MINUTES FROM YALE NEW HAVEN HOSPITAL | TOP HOSPITAL IN USA
• NORTH HAVEN CONSISTENTLY RANKED “BEST PLACES TO LIVE”

Description

Jonna Group at Colliers International has been selected to exclusively represent the sale of Rite Aid (Dark) located in North Haven, Connecticut. The subject site features Rite Aid operating on a NNN lease. This fee simple is asset is 14,490-square feet and has 7.8 years remaining on the base term of the lease. The investment also includes additional income from the 1,500-square foot Sing Hee Restaurant located on the parcel. The property is situated on a massive 4.23-acre lot with excess development potential of over 2.2 acres. The excess land is zoned residential for uses that include multi-family.

The subject property is situated along Middletown Avenue in North Haven. The property features excellent demographics of 221,000 people within a five-mile radius and an average household income of over $82,000. The subject property is located in a dense retail pocket that includes Home Depot, Verizon Wireless, TJ Maxx, Target, Best Buy, BJ’s Wholesale, Chick-fil-A, Dunkin’, McDonald’s, Dollar Tree, Five Below, Olive Garden and many more.

New Haven MSA