12491 VALLEY VIEW ST Garden Grove CA 92845-2032

Beta Agency is Pleased to Offer for Sale the Former Rite Aid Located at 12491 Valley View Street, Garden Grove, Ca. Although Rite Aid Has Closed the Store, Rite Aid Has a Lease Term Through December 31, 2025. The Subject Building is 27,649 Square Feet and is Situated on 97,400 Square Feet of Land (2.236 Acres). The Building Was Built in 1971 and Was Originally Leased to T.g. & Y Stores Co. The Property Was Later Subleased to Payless Drugstores Northwest, Inc. And Then Assigned to Thrifty Payless Dba Rite Aid. The Offering is Located Within a 88,119 Square Foot Neighborhood Shopping Center Anchored by 99 Cents Only, Bank of America and Chase Bank. The Subject Property is Located in the City of Garden Grove in North Orange County. The Property is Well Positioned Just North of the 22 and 405 Freeway in a Densely Populated, Upscale Residential Neighborhood. The Subject Property Represents a Unique Opportunity for an Owner User or Retail Investor/ Developer to Re-tenant the Former Rite Aid Leased Property. Currently Rite Aid is Subleasing 5,016 Sf of the Total Space to Valley View Wellness Medical Center. The Terms of the Sublease Are Not Available at This Time. The Existing Lease With Rite Aid Provides for a Base Lease Rate of $374,880 Annually. Rite Aid Has Two (2) 5-year Options Remaining After December 31, 2025 With Rental Increases. This Allows for a Rental Income Stream While an Owner User or Investor Obtains City Permits and Approvals Required for Its Intended Reuse of the Property.discussions Have Not Yet Been Made With Rite Aid Regarding the Expiration of Their Lease Early and Will Be Left for a New Buyer to Negotiate. The Terms of That Sublease Are Not Known. Ownership Has the Capacity to Terminate This Sublease at Their Discretion.