Rite Aid, Rocky Mount NC

Rite Aid
Price: $2,689,000 Address: 824 West Raleigh Boulevard City: Rocky Mount Zip: 27803 Year Built: 1998 State: None Country: USA

Full Description:

Rite Aid, Rocky Mount NC

824 West Raleigh Boulevard, Rocky Mount, NC 27803

Asking Price: $2,689,000


Property Type Retail

Lease Type Absolute NNN

Tenant Credit Credit Rated

Tenancy Single

Lease Term 27.2 years

Lease Commencement 01/18/1999

Lease Expiration 03/31/2026

Square Footage 11,480

Price/Sq Ft  $234.23

Cap Rate 7.00%

NOI $188,230

Year Built 1998

Lot Size (acres) 1.89

Ownership Fee Simple

This is a long term NNN leased Rite Aid opportunity. The property is subject to a long term lease which began in 1999 and runs through 2026. The lease is at in the initial term with a 15% bump in the first option, and 2.5% bumps in each subsequent option. There are four 5-year renewal options beyond the initial term. The property is well-situated on a major retail corridor surrounded by national retailers including Family Dollar, Piggly Wiggly, Dollar General, Hardees and Kangaroo Express.


Absolute NNN Lease

Established Tenancy at this Location

Located on a Major Commercial Thoroughfare

Recently Extended Lease

Zero Landlord Obligations

Go to street view!
Courtesy of: WOLFGANG SCHWARZ - Information available through the Multiple Listing Service (MLS) believed accurate is not warranted.

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