Listed 09/05/24. Major price cut 11/16/24 to $4.6M (10% further cut). Rite Aid fully assumed this ABSOLUTE NNN lease having come out of bankruptcy and confirmed extension till Dec 31st, 2029, Rite Aid been at location for 35 years already. 5 extensions at CPI for 5 years, but first 2 extensions shall pay 25% increases per lease. Pays currently, a well BELOW MARKET rent of $276,500/year that is only 0.82/sq.ft./month and that reflects in a great deal at $162/sq.ft. (amongst the lowest price/sqft in CA for national store class A property) and yet a great 6.1% CURRENT TRUE cap rate based on absolute NNN lease, going in and with 25% increase in 2030 Jan, that is expected to make it 7.65% TRUE CAP rate when rent recovers to closer to market and greater than 10% cap rate over time. This is an ABSOLUTE NNN lease with CAM managed by neighbor Savemart and Rite Aid reimbursing it. As opposed to many other NNN properties roof capex is also paid by tenant and tenant replaced the roof with new roof in 2016 in a 700K entire store remodel and capital improvements. Buyer to investigate all leases to verify.