Rite Aid

$1,999,000
Closed Single-Tenant
Property type:Single-Tenant Net Lease

The space

  • Price: $1,999,000
  • Rentable Square Feet: 8,052
  • Annual Rent: $150,000
  • Price PSF: $248.26
  • Land Area: 0.88 Acres
  • Year Built: 1997
  • Lease Guarantor: Corporate
  • Lease Type: NNN
  • Option Periods: 3, 5-Year Options
  • Lease Expiration: 3/31/2030

Description

1801 Hull Street
Richmond, VA 23224

Investment Highlights

  • Tenant Recently Extended the Lease Term For 10 Years Reflecting Commitment to the Location
  • NNN Lease With No Landlord Responsibilities
  • Three, Five-Year Renewal Options with Fixed Rent Increases Every Five Years
  • Tenant has Been Operating from This Location for More Than 20 Years
  • Population Over 113,000 Within Three Miles of Subject Property
  • Directly Across the River from Downtown Richmond

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a Rite Aid Pharmacy in Richmond, Virginia. This Rite Aid has a triple net, corporate guarantee lease, with no landlord responsibilities. The tenant has operated from this location for more than 20 years and recently extended the lease term for 10 years, showing a strong commitment to the location. The lease offers three, five-year renewal options with fixed rent increases every five years in option periods. This offering has a low price PSF and a very attractive price point for a drug store listing.

The subject property is located directly across James River from Downtown Richmond. There is a population over 113,000 within a five-mile radius of the Rite Aid. The property is two miles from Hunter Holmes McGuire VA Medical Center, and 2.5 miles from Virginia Commonwealth University, with an undergraduate enrollment of more than 20,000 students. Located just minutes from Downtown, the subject property is also within close proximity to the University of Richmond and Richmond International Airport.


Dawson Rinder

Broker of Record

Lic.# 0225215181

(804) 804-6882

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