1650 Main St - Drug Store FOR SALE


Olyphant, PA 18447
$1,933,333 USD
619-297-0055
1650 Main St, Olyphant, PA for Sale
$1,933,333 USD
Drug Store - FOR SALE
1/3
null | 9% Cap Rate

1650 Main St
Olyphant, PA 18447


HIGHLIGHTS

  • Rite Aid is currently paying $15.60/sf in rent, which aligns with local retail market rates.
  • Rite Aid's rent will increase by 37% in the 1st option period.
  • Rite Aid recently restructured its lease, extending its commitment to the property.
  • 2 Amazon Fulfillment Centers & Canpack have opened up new facilities in the last 4 years bringing over 900 jobs to the Olyphant economy.
  • Rite Aid has operated successfully at this location since 1999, marking over 26 years of continuous operation.
  • Positioned at an intersection with over 26,000 vehicles per day, ensuring consistent traffic and exposure.

OVERVIEW

Introducing a prime investment opportunity in RITE AID | 1650 MAIN STREET | OLYPHANT, PA 18447. This absolute net-leased property boasts strong underlying real estate fundamentals and a promising future. Rite Aid, a longstanding tenant since 1999, pays market-aligned rent with a 37% increase expected in the 1st option period, affirming their commitment to this preferred location. Benefiting from a high-traffic intersection and recent local economic growth due to Amazon Fulfillment Center and Canpack, this property offers stability and potential for long-term gains. With a current CAP rate of 8.00% and NOI of $174,000, this ±11,153 SF building on a ±1.14-acre lot presents a lucrative opportunity for investors. Listed in conjunction with Brian Brockman, Bang Realty, 513-898-1551, wg@bangrealty.com, PA DRE Lic. 423816

FOR SALE DETAILS

PRICE

$1,933,333 USD

PRICE/SF

$173 USD /SF

CAP RATE

9%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Rite Aid

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1999

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

1.07 AC

LAND SF

46,609 SF

ZONING

-

APN/PARCEL ID

11410070044

ASK ABOUT THIS PROPERTY

Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

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Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.