792 W Main St
Rochester, NY 14611
Walgreens (Converted Store) · Retail Property For Sale

The Tenant, Rite Aid, has occupied this store since 1998, more than 18 years, demonstrating their commitment to this location. Store sales are reported, however have substantial exclusions. A whisper number is available from the listing agent. To the investors benefit, this offering provides a 100% depreciable asset, and a long term, co-terminus lease. It should be noted that the low land rental rate gives excellent coverage and should the Rite Aid renew its first option at contract the rent will increase 13%. With the strength of this location' s store sales, this is a unique high yield opportunity. The Property is exceptionally well-located along Main Street, which averages more than 22,000 vehicles per day. The Tenant is situated upon a highly visible, accessible corner parcel with prominent frontage. The 11,325 sf Rite Aid store is across the street from Bull' s Head Plaza, an 85,600 square-foot Family-Dollar anchored center with other medical oriented services. The store is a mere two-tenths of a mile from St. Mary' s Hospital. Founded in 1857, St. Mary' s was the first hospital established in Rochester. This hospital has a 24 hour urgent care center which treats more than 22,000 patients annually, a dialysis center that performs over 13,000 treatments annually, and Unity Living Center, a 120-bed skilled nursing facility. Without question, this store directly benefits from the continuous traffic generated by the hospital. Aside from these two prominent facilities, there is limited retail in this submarket for essential goods and services making it a strong location for the tenant.