2401 E Venango St
Philadelphia, PA 19134
Rite Aid | Philadelphia, PA · Retail Property For Sale

This Rite Aid is an Amazon Locker Location. Amazon shoppers can pick up their packages at designated counters inside more than 100 Rite Aid stores, a service that will be available at over 1,500 of the chain’s locations by the end of the year. Rite Aid has been at this location since 1999 and just executed a new 11 year lease term (which commenced July 22, 2019). The lease also features four (4), five (5) year options. The lease structure is double net (NN), with minimal landlord responsibilities. Tenant is responsible for HVAC, maintaining CAM and parking, and payment of all taxes, utilities, and insurances. The lease provides for 10% rental increases at the start of each option period. There are 34,825 residents located in the one (1) mile demographic ring. The average household income in the five (5) mile demographic ring is $60,298. This location is open 24 hours a day and is situated on the hard-signalized corner of E Verango St. & Aramingo Ave. Rite Aid is the largest pharmacy and 7th largest company in Pennsylvania. Rite Aid is headquartered in Camp Hill, PA, which is located 112 miles (110 minutes) away from the subject property. Rite Aid is located just 4.6 miles (8 minutes) from downtown Philadelphia (Center City). It encompasses the city’s busiest and most densely packed cultural, historical and entertaining neighborhoods. Rite Aid is located right off Interstate 95, which reports strong traffic counts of 197,000 cars per day. The subject property is located in a dense retail corridor surrounded by other tenants such as Forman Mills, Taco Bell, Panda Express, AT&T, Jiffy Lube, Walmart Supercenter Target & Lowe’s. Pennsylvania’s largest and principal city is Philadelphia, the most populous city in the state, and sixth-most populous city in the U.S. Eighteen citywide conventions, the most in a decade, and an increase in overseas visitation combined to brought 1.3 million overnight visitors to Philadelphia in 2018. The Philadelphia International Airport is located just 15 miles (20 minutes) from the subject property and serves 31.7 million passengers annually.