1201 Blair St - Drug Store FOR SALE


Hollidaysburg, PA 16648
$1,085,000 USD
1201 Blair St, Hollidaysburg, PA for Sale
$1,085,000 USD
Drug Store - FOR SALE
1/5
null | 7% Cap Rate

1201 Blair St
Hollidaysburg, PA 16648


HIGHLIGHTS

  • Giant Eagle Pharmacy conversion with corporate credit, strong demand, and rent 50% below replacement
  • Corporate-Guaranteed Stability Backed by Giant Eagle, Inc.—a $11.5B Top 50 private company—providing predictable, credit-backed income.
  • Re-Tenanting & Repositioning Optionality Drive-through pad and low rent create flexible long-term upside for healthcare, QSR, or service retail.
  • Strong Prescription Demand & Market-Exclusive Position Only full-service pharmacy in Hollidaysburg; inherited strong Rite Aid script volume.
  • Drive-Through Healthcare Prototype Freestanding 7,124 SF building with drive-through, visibility, and dedicated parking.
  • 10% Structured Rent Growth Every three years, including both options; income growth supported by strong tenant economics.

OVERVIEW

A rare Giant Eagle Pharmacy conversion — one of only two former Rite Aid sites selected statewide — located in the heart of the Altoona/Hollidaysburg daily-needs corridor. Giant Eagle took over a high-volume prescription business, reaffirming the strength of this location and its dominant healthcare position in the market. The asset delivers corporate-guaranteed stability, a true drive-through prototype, and an exceptionally low rent structure (±$10.67/SF)—less than half of comparable healthcare retail—providing both intrinsic downside protection and long-term re-tenanting leverage. At an all-in basis near 50% below replacement cost, the deal is underpinned by real estate fundamentals that are almost impossible to replicate today. Surrounded by Walmart, Lowe’s, Sheetz, Dunkin’, and UPMC Altoona, the site benefits from strong prescription demand, daily traffic, and an affluent, stable consumer base. With 10% built-in rent bumps and clear repositioning potential, this offering combines credit-backed income, proven sales, and meaningful upside—a compelling play for investors seeking durable healthcare retail with below-market rent and long-term value creation.

FOR SALE DETAILS

PRICE

$1,085,000 USD

PRICE/SF

$152 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Giant Eagle Pharmacy

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1984

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.43 AC

LAND SF

18,731 SF

ZONING

Commerical

APN/PARCEL ID

11-00014512

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