130 W Loudon Ave
Lexington, KY 40508
Rite Aid · Retail Property For Sale

Rite Aid | Zero Cash Flow | Corp Abs NNN Lease SRS National Net Lease Group is pleased to present the opportunity to acquire Rite Aid, a corporate guaranteed, absolute NNN leased, investment property located in Lexington, Kentucky. The tenant, Rite Aid, has approximately 4.5 years remaining in their 22-year primary term with 8 (5-year) option periods. The lease features below-market rents and a 5% rent increase in the 3rd and 7th option periods. The property is encumbered by a creative assumable loan package that yields zero cash flow for the fixed lease term. It is an ideal acquisition for an investor looking for a passive, net leased property requiring a minimal equity investment, which provides an immediate tax benefit with substantial long term upside. Rite Aid is located at the signalized, hard corner intersection of W. Loudon Avenue and N. Broadway (25,000 VPD) with excellent visibility and access. Loudon Avenue and Broadway are both main thoroughfares in Lexington. A Subway and Thornton' s gas station are also located at this signalized, hard corner intersection. The asset is situated in a densely populated area with numerous national retailers in close proximity including Dollar Tree, Save-A-Lot, Dollar General, Walmart, McDonald' s and more. The 5-mile trade area is supported by a dense population of 189,700 with an average household income of $59,000.