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Rite Aid, Woodlake, CA

Rite Aid

CA, United States

Price $5,440,000
Cap Rate
NOI
Lease Term 20 Years
Lease Type
Rental Increases Rental increases of 10% every 10 years
Year Built 2016
Building Size 14,673 sq. ft.
Lot Size 0.94 Acres (41,076 sq. ft.)
Status Sold
Lead Broker Information Scott Crowle
Senior Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Michael T. Yuras, CCIM
Executive Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Investment Highlights

RARE CALIFORNIA 2016 BUILT-TO-SUIT PHARMACY
» New 20-year NNN lease with 10% increases every 10 years
» Corporate guaranty – NYSE: “RAD”
» No landlord responsibilities, providing an investor with a completely passive investment

MINIMAL PHARMACY COMPETITION
» Nearest Walgreens or CVS more than 14 miles away
» Benefits from exceptionally large trade area
» Future upside through embedded rent increases

GREAT VISIBILITY AND ACCESS IN BUSY CENTRAL LOCATION
» Classic Main & Main hard-corner location across from dominant grocery store, new medical clinics, and walking distance from high school

LATEST RITE AID PROTOTYPE WITH DUAL PRESCRIPTION DRIVE-THRU
» Build to Tenant’s exact specifications and features the latest Rite Aid store design
» Prescription drive-thru lane provides unparalleled customer convenience

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is strategically located in the center of Woodlake, at the hard corner of North Magnolia Street and East Antelope Avenue. The site is located directly across from a shopping center tenanted by national and regional retailers such as Family Dollar, Pizza Factory, and State Foods Supermarket. Additional nearby retailers include Subway, Cricket Wireless, NAPA Auto Parts, and Dollar General. Several schools are within an approximately half-mile radius of the site, including Woodlake High School, Castle Rock Elementary, Woodlake Valley Middle School, and Francis J. White Learning Center. These schools have a combined enrollment of 2,273 students and employ approximately 104 full time teachers. The property is located near a number of large, local employers, such as Dryvit, U.S. Tower Corporation, Bradford Steel Construction, and Fruit Growers Supply Co. Additionally, Monrovia Nursery is less than four and a half miles from the site, and employs approximately 500 people.

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