262 Connellsville St - Drug Store FOR SALE


Uniontown, PA 15401
$955,513 USD
619-297-0055
262 Connellsville St, Uniontown, PA for Sale
$955,513 USD
Drug Store - FOR SALE
1/2
null | 8% Cap Rate

262 Connellsville St
Uniontown, PA 15401


HIGHLIGHTS

  • Rite Aid is currently paying $9.45 /sf in rental rate, which aligns with the local retail rent of $9.50/sf.
  • The subject property supports a rent-to-sales ratio of 1.35%.
  • Rite Aid restructured its lease, effective November 1, 2023, to remain open and operational throughout the Chapter 11 proceedings.
  • Rite Aid has two 5-year options to extend their lease, each with 10% rental increases.
  • Rite Aid has operated successfully at this location since 1988, marking over 36 years of continuous operation.

OVERVIEW

We are pleased to offer for sale the Rite Aid property located at 262 Connellsville St, Uniontown, Pennsylvania ("The Property"). Rite Aid has operated successfully at this location since 1988, marking over 36 years of continuous operation. Recently, Rite Aid restructured its lease, effective November 1, 2023, to remain open and operational throughout the Chapter 11 proceedings, underscoring its long-term commitment to the site. After the recent restructuring, Rite Aid has 3 years remaining on the primary term, with 2 (5-year) options to extend, with 10% increases in the rent. Rite Aid is currently paying $9.45 /sf in rental rate, which aligns with the local retail rent of $9.50 /sf. This provides investors the unique opportunity to acquire a high-yield, national drugstore tenant with replaceable rental rates. The next 10% increase is January 1st, 2028. The Subject Property supports a rent-to-sales ratio of 1.35%, which is healthy for drugstore properties. Listed in conjunction with Brian Brockman, Bang Realty, 513-898-1551, wg@bangrealty.com, PA DRE Lic. 423816

FOR SALE DETAILS

PRICE

$955,513 USD

PRICE/SF

$106 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Low Price Point Rite Aid | Replaceable Rents

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1988

SPRINKLERS

-

PARKING SPACES

46

LAND DETAILS

LAND ACRES

0.81 AC

LAND SF

35,284 SF

ZONING

-

APN/PARCEL ID

38-13-0225

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.