21287 Highway 421
Hyden, KY 41749
Retail Property For Sale

Marcus & Millichap is pleased to present this 14,600-square foot Rite Aid in Hyden, Kentucky. Located approximately 60 miles northwest of Kingsport, Tennessee, this Rite Aid sits on a 0.82 acre plot on U.S. Route 421. Rite Aid has 11 years remaining on a triple-net (NNN) lease with four, five-year renewal options. The lease calls for 10 percent rental escalations every 10 years, including in the option periods. The lease is corporately guaranteed by Rite Aid Corporation, a publicly traded company (NYSE: RAD) that is ranked #107 in the Fortune 500. This highly visible Rite Aid sits on U.S. Route 421 which runs from Indiana to North Carolina and goes through the cities of Indianapolis, Indiana, Lexington, Kentucky, Richmond, Kentucky, Boone, North Carolina, and many more. Major tenants in the vicinity include Dollar General, Advance Auto Parts, Save a Lot, IGA Grocery, Dairy Queen, Exxon, Hardee' s, and USPS. Rite Aid is located approximately one mile from Mary Breckinridge ARH Hospital, a 25- bed critical access hospital known for its long and rich history of innovative medical care. Much like the Appalachian Regional Healthcare system, Mary Breckinridge Hospital has a colorful history that has shaped medical care in Eastern Kentucky. The hospital was originally opened by midwife Mary Breckinridge who founded the Frontier Nursing Service in Leslie County to provide healthcare for mothers and babies in remote rural areas. Rite Aid benefits from being the closest major freestanding pharmacy to Mary Breckenridge Hospital, as the next closest is a CVS nearly 20 miles away.