5692 Rising Sun Avenue, Philadelphia, Pa 19120 Executive Summary
5692 RISING SUN AVENUE, PHILADELPHIA, PA 19120 EXECUTIVE SUMMARY Marcus & Millichap is pleased to present for sale a corporate guaranteed Rite Aid located in Philadelphia, Pennsylvania. Rite Aid is well located at the signalized intersection of Rising Sun Avenue and Adams Avenue. It is located in the neighborhood of Lawncrest, in the lower Northeast section of the city. Rising Sun Avenue is a main artery through Lawncrest, with over 18,000 vehicles passing by the Rite Aid daily. Surrounding national tenants include Dunkin Donuts, Burger King, Forman Mills, McDonald’s, Wells Fargo, Walmart, Ross and Staples. Rite Aid has 8 years left on their lease with eight, five year options. The original lease term was 20 years and is a NNN lease. Rite Aid was constructed in 2006. Rite Aid is one of the nation’s leading drugstore chains and dominates market share in Philadelphia. Rite Aid has over 2,500 stores concentrated on the east and west coasts. It was rated a B2 by Moody’s. The company is publicly traded on the New York stock exchange. PROPERTY INFORMATION PROPERTY OVERVIEW INVESTMENT HIGHLIGHTS AREA HIGHLIGHTS Address 5692 Rising Sun Avenue, Philadelphia, PA 19120 • Rite Aid has 8 years left on their NNN lease • Irreplaceable Philadelphia location Sale Price $5,084,000 • Corporate guaranteed and investment credit with • Well located at the signalized intersection of Rising CAP Rate 6.50% a credit rating of B2 by Moody’s Sun avenue and Adams Avenue Bldg SF 11,211 SF • Rental increases throughout the base term and • Surrounded by national retailers such as Wendy’s, five, five year option periods McDonald’s, Wells Fargo, Dunkin Donuts, Subway, Year Built 2006 Home Depot, Walmart, Dollar Tree, etc.
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