Rite Aid | Brand New 20 Year NNN Lease w/ Zero Landlord Obligations!
1900 Ocean Street
Marshfield, MA 2050
| For Sale | $3,034,110 |
| Status | New |
| Kase Abusharkh | 925-348-1844 |
Property Overview
| Land SF/$ Per | 130,244 / $23.30 |
| Acres/$ Per | 2.99 / $1,014,755.62 |
| Property Use | Investment |
| Zoning | - |
| Parcel Number | - |
| T, R, S | -, -, - |
| Land Size | 130,244 sf |
| Bld SF/$ Per | 13,876 / $218.66 |
| # of Buildings | 1 |
| # of Stories | 1 |
| Cap Rate | 8.15% |
| Vacancy | - |
Property Description
This offering is the rare opportunity for an investor to acquire an absolute net leased Rite Aid asset with a brand new 20 year lease. The lease term is 20 years with a 10% bump every 10 years. The lease is net and provides for zero landlord responsibilities. The lease provides for eight five year options.
Area Description
Marshfield is a town in Plymouth County, Massachusetts. The population was 24,324 at the 2000 census. Marshfield shows high income demographics and is known to be an affluent community. The median income for a household in the town was $125,508, and the median income for a family was $142,541. Males had a median income of $92,600 and $72,975 for females. The per capita income for the town was $118,768.
Property Features
- Rite Aid (NYSE: RAD)
- Zero Landlord Responsibilities
- Submit All Offers!
- New 20 Year Absolute Net Lease
- Excellent Sales History
- Awesome Opportunity- Boston Metro
- Rite Aid Corp. (NYSE: RAD) upgraded to “Outperform” by Raymond James Financial
- Rite Aid shares up over 225% since April 2009
- Rite Aid Corp. has experienced an upward trend in stock since mid-March 2009
- Rite Aid Corp. reported Same Store Sales increase for May 2009
Financial Overview
| List Price | $3,034,110 |
| Down Payment | $1,517,055 |
| Cap Rate | 8.15% |
| Cash on Cash | 10.30% |
| Financial Terms | - |
| Consider Exchange | No |
Cash Flow
| CF Type | Proposed |
| Year | 2009 |
| Scheduled Gross | $247,280.00 |
| Reimbursement | - |
| Vacancy | - |
| Effective Gross | $247,280.00 |
| Operating Expenses | - |
| Operating Income | $247,280.00 |
| Debt Service | $91,023.00 |
| Capital Costs | - |
| Cash Flow (pre-tax) | $156,257.00 |
Debt Information
| Debt Type | Proposed |
| Debt Service | $91,023.00 |
| Principal | $1,517,055.00 |
| Interest Rate | 6.0% |
| Amortization | - |
| Due | - |
| Loan Description | - |
General Property Information
| Property Use | Investment |
| Land SF | 130,244 sf |
| Land Acres | 2.990 acres |
| Building SF | 13,876 |
| Bld SF/$ Per | 13,876 / $218.66 |
| # of Buildings | 1 |
| # of Stories | 1 |
| Free Standing | Yes |
| Year Built | 1997 |
| Built Yet | Yes |
| Building Class | A |
| Zoning | - |
| Parcel Number | - |
| # Grade Dock Doors | - |
| # Dock High Doors | - |
| Parking Description | - |
| Broadband | N/A or Unknown |
| Gas | N/A or Unknown |
| Water | N/A or Unknown |
| Electric | N/A or Unknown |
Tenant Information
| 1. Rite Aid (NYSE: RAD) | 13,876 sf | Exp: 6/1/2028 |
Listing Agent
Kase Abusharkh
Managing Director
Sperry Van Ness | The Kase Group
925-348-1844
925-736-8480 (Fax)
www.TheKaseGroup.com