2992 Patterson Rd
Grand Junction, CO 81504
Rite Aid | NNN | 8.39% CAP | $2.7M · Retail Property For Sale

Pharma Property Group has been exclusively retained by ownership to present for sale the opportunity to acquire the Rite Aid property located in Grand Junction, Colorado. The lease has approximately 2 years remaining before the two (5-year) options to follow and operates on an absolute net lease basis with no landlord responsibilities. Income guaranteed by Rite Aid corporate (S&P B) Fortune 500 Company with over 2,500 locations. Rite Aid retained this location in its sale of 1,900 locations to Walgreens in 2018 showing commitment to the site. The store has a successful operating history of 20+ years at this location. The Subject Property is located on the signalized corner of 30 Road and Patterson Road which is one of the main arterials between downtown Grand Junction to the west and Fruitvale and Clifton to the east. This property is one of only three Rite Aid locations serving Grand Junction and Clifton with the next nearest location over 3.5 Miles away. St. Mary’s Medical Center, West Springs Hospital and The Grand Junction VA Medical Center are all located within a 4 mile radius of the subject property providing a large and consistent customer base. Rite Aid is located just 4.0 miles northeast of Downtown Grand Junction and is surrounded by a mix of infill residential and retail. The property benefits from population of over 57,555 residents in a 3-mile radius and 98,124 residents in a 5-mile radius. Grand Junction is a city in and the county seat of Mesa County Colorado. It is the principal city of the Grand Junction Metropolitan Statistical Area, which had a population of 146,723 in 2010 census. The city is positioned along the Colorado river on Colorado’s western slope. The Colorado National Monument, a series of unique canyons and mesas, overlooks the city on the west.