Retail Property For Sale - Rite Aid | Available Financing 10% C/C Return!

1500 Martin Luther King Jr., Wilson, NC, 27893

 

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Rite Aid | Available Financing 10% C/C Return!

1500 Martin Luther King Jr., Wilson, NC 27893

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  • $2,486,000
  • 14,765 SF
  • $168.37
  • Retail
  • Free Standing Bldg
  • Net Lease Investment with 10+ years left on lease
  • 8%
  • 100%
  • Single
  • 2003
  • 1.57 AC
  • Find Out More...
Last Verified  11/4/2009 Listing ID  16282617

Highlights

  • Newer Construction, New 20 Year Net Lease- Zero Landlord Obligations
  • Year One Cash on Cash Return is: 10%
  • Rite Aid Corp. upgraded to Outperform by Raymond James Financial
  • Rite Aid (NYSE: RAD) Corporate Lease w/ Scheduled 10% Increases
  • Rite Aid completed refinancing of debt and there is no long term debt due through 2016
  • Rite Aid Corp. shares are up over 225% since April

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.

Rite Aid Corp. (NYSE: RAD) Highlights:

*Rite Aid Corp. upgraded to Outperform by Raymond James

*Rite Aid Corp. shares are up over 225% since April

*Rite Aid Corporation enjoys over $26b in Annual Sales

*Rite Aid Corp. has experienced an upward trend in stock price since mid-March 2009

*Rite Aid Corp. reported Same Store Sales Increase for May 2009

*Recently, Rite Aid (NYSE: RAD) announced that it has successfully completed its previously announced refinancing of the majority of its September 2010 debt maturities, including its $145 million Tranche 1 Term Loan and $1.75 billion senior secured revolving credit facility.

*Standard & Poor's Ratings Service raised the outlook of Rite Aid Corp. to "Stable" July 21 saying the drugstore operator is in a better position after refinancing much of its debt.

Wilson is a city and the county seat of Wilson County in the Coastal Plain region of the U.S. state of North Carolina. The 17th largest city in the state, Wilson had a population of 47,380 at the 2007 census.

Financial Summary

Major Tenant Information

Debt & Equity Information

  • Actual
  • 2009
  • $198,880
  • $124,300

Map of 1500 Martin Luther King Jr., Wilson, NC 27893 (Wilson County)

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Presented by

The Kase Group

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Lindsey Lantis (831) 566-6270
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Created 6/17/2009

Additional Information for 1500 Martin Luther King Jr Parkway Se, Wilson, NC 27893

  • Active For Sale - 1 Listing
  • Active For Lease - 0 Listing
  • Previously Listed - 1 Historic Listing
  • Sales Comparables Available - 0 RecentSales Record

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