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Rite Aid

1700 Pine Hollow Rd, McKees Rocks, PA 15136, USA
$7,405,000

Price:
$7,405,000
Cap Rate
6.00 %
NOI
$ 444,304
Development Type
Retail
Lot Area
1.602 acre
Price Per SF
661$
Tenancy
Single
LEAD LISTING AGENT
Jesse Limon

Jesse Limon

ASSOCIATE


License No. NY 10401271892, IN RB14048415

Broker of Record

Sean Beuche License: PA RM424190

PROPERTY CONTENT

6.00% CAP | 11,186 SF | MCKEES ROCKS, PA


OPPORTUNITY

Rite Aid Corporation (Nyse: Rad) is one of the nation’s leading drugstore chains and ranked 107 on Fortune 500’s Largest U.S. Corporations, with fiscal 2018 annual revenues of $21.6 billion and a current credit rating of B3. Rite Aid is one of the largest drugstore chains on the East Coast, with approximately 2,466 stores in 19 states, employing more than 48,000 associates across the country.

Rite Aid began in 1962 as a single store opened in Scranton, Pennsylvania named Thrift D Discount Center. After several years of growth, Rite Aid adopted its current name and debuted as a public company in 1968. In 2018, Walgreens Boots Alliance acquired 1,932 Rite Aid stores for $4.38 billion.

In June 2019, Amazon announced the launch of an Online purchase pick-up service at designated counters inside more than 1,500 Rite Aid stores across the U.S. Also in June, Rite Aid announced a new partnership with Adobe to combine personalized health and wellness expertise with digital operational support, seamlessly connecting the pharmacy, retail stores and Online customer experience. Rite Aid will also partner with UNFI to introduce natural and organic items in-store. Rite Aid is extending their partnership with GNC Health through 2021.

Beyond their stores, Rite Aid brings the company’s mission to life through the efforts of The Rite Aid Foundation. Through their long-standing support of Children’s Miracle Network Hospitals and other Rite Aid Foundation efforts, the company has raised and donated over $100 million to kids and their families.


PROPERTY HIGHLIGHTS


1700 Pine Hollow Rd, McKees Rocks, PA 15136, USA

LEAD LISTING AGENT
Jesse Limon

Jesse Limon

ASSOCIATE


License No. NY 10401271892, IN RB14048415