94 June Dr
Roaring Spring, PA 16673
Rite Aid/DaVita · Retail Property For Sale

CBRE is pleased to exclusively present for sale this Rite Aid and DaVita Dialysis property located on June Drive in Roaring Spring, Pennsylvania. The approximately 12,563 square foot building was recently renovated to add DaVita Dialysis which has over nine years remaining on its lease and a 7% rental increase in year 6. Rite Aid makes up 57% of the building and has 3 years remaining on its lease with two, three year options to renew. Both tenants are on corporately backed, double net leases with all CAM, taxes, and insurance expenses reimbursed by the tenants. This is a high yield investment with an 8.5% capitalization rate at list price with rental increases that will push yield even higher over the hold period. Rite Aid and DaVita Dialysis are located at the intersection of June Drive and Nason Drive which see approximately 8,900 vehicles passing by daily. There is minimal drug store competition within the market with the closest Rite Aid located 8.5 miles away. National tenants in close proximity to the site include McDonald’s, M&T Bank, Burger King, Verizon, Giant Eagle, First National Bank, Advance Auto Parts, Dollar General, Turkey Hill, H&R Block and True Value Hardware. The subject property is also ideally situated across from the Conemaugh Nason Medical Center, the area's largest hospital with 45 beds, and 24/7 emergency care, creating a good co-tenancy based on the services they provide. Rite Aid and DaVita sit on a large 3.22 acre parcel which allows for numerous redevelopment opportunities in the future if necessary.