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Off Market
1/1

Rite Aid
Florence, OR 97439


HIGHLIGHTS

  • Proven Single Tenant (9 Yrs. Left) Absolute NNN Corp Lease by Rite Aid, Inc. (NYSE: RAD) - Fee Simple
  • RARE Coastal City Location on Historic Hwy 101- Blocks to Pacific Ocean- High Barriers to Entry
  • 10% Rent Bumps every 5 Yrs. plus Options- Larger 1.47 Acre Hard Corner Site- Tall Monument Signage
  • Zero Landlord Duties- Valuable Underlying Dirt- Limited Pharmacy Competition in Trade Area
  • “2nd Best Small Town in the Northwest” by Trip Advisors- Historic and Scenic Coastal Community
  • Recent Modern Prototype Remodel- Double Drive Thru- Adjacent to Siuslaw H.S. / Florence Golf Links

OVERVIEW

We are pleased to offer to qualified investors an opportunity to purchase a single tenant absolute NNN leased investment that is fully occupied by Rite Aid with approximately 8.7 years fixed remaining on the base term. Located in Florence, OR the subject property comprises a 17,272 square feet building on a 1.47 acre signalized hard corner lot. Positioned on the main North/South corridor of Florence, OR (Hwy 101) the subject property has excellent visibility and easy access and is the only Rite Aid/Walgreens or CVS Pharmacy location within a 40+ mile radius (1 hour drive-time) making this a strategic corporate location. This is an excellent opportunity to purchase an absolute NNN leased investment, with minimal pharmacy competition in the market, located on the main North/South thoroughfare, with 8.7 years remaining and zero landlord responsibilities.

FOR SALE DETAILS

PRICE

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CAP RATE

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% LEASED

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TENANCY

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BUILDING DETAILS

PROPERTY NAME

True NNN- RARE Costal Hard Corner Site

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Drug Store

TOTAL BUILDING SIZE

17272

STORIES

1

YEAR BUILT

2008

SPRINKLERS

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PARKING SPACES

55

LAND DETAILS

LAND ACRES

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LAND SF

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ZONING

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APN/PARCEL ID

0785087