431 Commons Dr - Drug Store FOR SALE


Du Bois, PA 15801
$2,735,000 USD
310-691-1350
431 Commons Dr, Du Bois, PA for Sale
$2,735,000 USD
Drug Store - FOR SALE
1/8
null | 8.5% Cap Rate

431 Commons Dr
Du Bois, PA 15801


HIGHLIGHTS

  • 100% Absolute NNN Lease with ± 8 Years Remaining
  • Attractive 24% Rent Growth in Base Term (10% in 2026, 14% in 2028) - 10.68% Cap Rate in 2028
  • Signalized Hard-Corner Location - Outparcel to Lowe's Anchored Center (TJ Maxx, Petco, Hobby Lobby, & ALDI)
  • Directly Adjacent to High-Foot-Traffic Walmart Supercenter – Recording 3.1M Visits a Year and Ranked in Top 20th Percentile Nationwide (Placer.ai)
  • Situated off I-80, 2nd Longest Interstate in the USA, Carrying ± 30,000 VPD
  • Over 20-Year Operating History at this Location

OVERVIEW

Pegasus Investments Real Estate Advisory Inc. and ParaSell, Inc., as exclusive advisors to seller, are pleased to present the opportunity to acquire a single-tenant Rite Aid secured by a 100% absolute NNN lease located in DuBois, Pennsylvania (the “Property”). Rite Aid has operated for over 20 years at the location and exercised a 10-year lease extension in early 2022. As part of Rite Aid’s recent emergence from bankruptcy, the tenant has affirmed this lease, inclusive of extremely attractive modifications to the lease, which include a base term through 2033 and extremely attractive increases to base rent through the remaining term. The lease includes a 10% rent increase in 2026 and a 14% rent increase in 2028, and to the extent the tenant exercises its options, an 11% rent increase in the first option period and then $0.50 PSF increases in the second option. The 25% increase to rent in the base term, effectuates to an impressive 10.63% cap rate for the final 5 years of the term, with the possibly to improve even further if Rite Aid exercises their renewal option. Most notably, speaking to Rite Aid’s dedication to remain at the Property, the Property survived significant restructuring and cost cutting measures as a result of Rite Aid’s bankruptcy procedures which saw 684 store closures. Overall, investors will benefit from the ownership of one of the best pieces of real estate in DuBois, Pennsylvania, leased to a tenant with long-term occupancy and outsized base term rent growth relative to typical national pharmacy net lease structures. The Property is situated on a large 1.76-acre parcel at a prominent signalized hard-corner intersection in DuBois, which sees over 14,000 vehicles per day on average. Located within DuBois’ primary retail corridor serving Clearfield County, the Property is surrounded by the area’s primary shopping locations, including the only Walmart within 30 miles (ranked in the top 20th percentile nationwide), Lowe’s, MARTIN’S, Hobby Lobby, Michaels, Petco, Big Lots and Staples. Located along E DuBois Ave / PA-255 halfway between Interstate 80 and downtown DuBois, the Property benefits from its high-visibility location along one of only two points of access from the city center to the interstate. DuBois is situated approximately 2 hours / 100 miles from Pittsburgh and is the largest city in Clearfield County.

FOR SALE DETAILS

PRICE

$2,735,000 USD

PRICE/SF

$198 USD /SF

CAP RATE

8.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Absolute NNN Rite Aid with ±8 Years Remaining

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Convenience Store, Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2003

SPRINKLERS

-

PARKING SPACES

72

LAND DETAILS

LAND ACRES

1.76 AC

LAND SF

76,666 SF

ZONING

C

APN/PARCEL ID

1280-C03-653-00074-97286

ASK ABOUT THIS PROPERTY

David ChasinPegasus InvestmentsMore Info
310-691-1350

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

David ChasinPegasus InvestmentsMore Info
310-691-1350

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