520 E Trade St
Dallas, NC 28034
Rite Aid l 9.50 CAP | NNN l $1.8M | Increases · 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 Dallas, NC. There are currently 1 year and 2 months remaining on an absolute net lease with four (5 year) options and increases. Rental increases are ±3% every five years during the options which begin July of 2019. The subject property is the only nationally branded drugstore in the market east of Highway 321. There are only two other freestanding drugstores leased to national tenants (one CVS, one Walgreens) in Dallas. Both are over a mile and half away from the subject property and to the west of Highway 321. Notable area highlights include the Daimler Components and Logistics plant with ±1,300 employees, The Eastridge Mall (±919,557 square feet of retail), Gaston College with 5,000 students enrolled, Charlotte-Douglas International Airport with over 44 million passengers annually, and the Caromont Regional Medical Center with ±4,000 staff and ±500 physicians. Dallas is a suburb of Charlotte and is located just north of Gastonia, which is the county seat of Gaston County, the second largest city in the Charlotte Metropolitan Statistical Area. Dallas is located approximately 23 miles west of Charlotte and located adjacent to Highway 321, which connects to Interstate 85, the main corridor leading west to Atlanta, Georgia and East to Washington, DC.