1605 S San Jacinto Ave
San Jacinto, CA 92583
Rite Aid | San Jacinto, CA | $5M | 6 Yr Lease · Retail Property For Sale

Pharma Property Group has been retained as exclusive agent and is pleased to offer investors the opportunity to acquire a Rite Aid in San Jacinto, CA. There are currently 7 years remaining on a double net lease with six (5-year) options. This lease allows for five percent (5%) rental increases every five (5) years in the options In June of 2015, with the initial lease term expiring in April 2019, Rite Aid extended its initial lease term to April 2025 and agreed to increase its rent by 22% showing long term commitment to this location. Property to be delivered free and clear of debt or may be purchased by assuming the existing financing. The current loan balance is $2,800,000 requiring a down payment of $2,342,102 at full asking price. The interest rate is 6.26% with a 25-year fully amortizing loan due in April 2032. A new buyer will clear $79,984 after debt service equaling a cash on cash return of 3.4%. The subject property is located on the main retail corridor of San Jacinto with the nearest signalized intersection having over ±37,319 cars per day. San Jacinto is a growing master-planned community adjacent to Hemet and just 36 miles east of San Bernardino, California. Located at the base of the San Jacinto mountains and adjacent to the San Jacinto River, the city of San Jacinto is the oldest incorporated city in Riverside County. The employment in the region is based in manufacturing and agriculture.